Jessy, Golden Finance
According to Artemis data, the net capital inflow of Ethereum Layer 2 project Base Chain surpassed Solana.
Not only that, the TVL of the Base chain has now firmly topped the Ethereum Layer2 list. According to L2BEAT data, the TVL of the Base chain has grown rapidly in the past three months. Since March 2024, its TVL has increased nearly sixfold, from US$1.3 billion to US$7.6 billion. According to DefiLlama data, as of December 3, 2024, the TVL on the Base chain has exceeded US$3.653 billion.
According to Dune data (@watermeloncrypto), the weekly active addresses on the Base chain have surged from 300,000 in January to 6.57 million in November, an increase of more than 2,000% so far.
The total number of contracts created on the same Base chain has achieved significant growth in the past three months. At the end of September 2023, the total number of contracts exceeded 20 million, and at the beginning of October it exceeded 30 million. By November 29, 2024, the number of contracts created on the chain was 97.5 million, which means that the total number of contracts has increased in the past three months. Over 60%
There is no doubt that Base has become one of the best-developed public chains.
Technically speaking, as the layer 2 of Ethereum, it has the characteristics of faster speed and lower gas. In addition, it is endorsed by the Coinbase brand, so a large number of users are willing to use this chain.
Previously, Base was famous for Meme coin and had many Pixiu disks. Now, Base has become a source of innovation.
Golden Finance summarizes the main protocols and innovations of the Base chain. The continuous inflow of funds and the vigorous development of the on-chain ecology also indicate that a big golden dog will be born on this chain. Paying attention to the Base ecology may also grasp the next wealth code.
The most prominent applications on the Base chain are SocialFi and Meme Coin. It can be seen that Base is a very people-friendly public chain. The reason why it has such a public chain temperament has a lot to do with its backing by Coinbase. And it is precisely because of the seizure of social and Meme Coin that Base has very active real users.
social contact
There are many socialfi products on Base, such as Friend.Tech, Fren Pet, Builder Fi, Aerodrome Finance and other projects, each with its own development focus, some focusing on the combination of social finance, and some creating social tools for developers, etc. Farcaster is currently the hottest social protocol on Base.
Farcaster
This is a decentralized social protocol based on Base. Some Dapps have been developed based on this protocol, the more well-known of which is Warpcast.
At present, in addition to the general decentralized social functions, there are also some new innovations in the protocol, such as the one-click coin issuance function that allows you to issue coins by sending messages.
Users only need to mark Clanker, an AI-driven "Token Bot", on Farcaster clients such as Warpcast or Supercast, tell it the token idea, and it will launch the token on Base. It is this innovation that has ushered in a new explosion in the Base ecosystem in the past month.
Currently, the memes launched through this launch platform are as follows:
Number of issuances: As of November 27, 2024, the number of meme coins issued in the Clanker system has exceeded 4,258.
The top three tokens and their market capitalization: (data source: Coingecko)
Brake Pet
It is a decentralized social platform where users can earn economic rewards through social activities. It uses tokens to incentivize participation and promote community development. The powerful community governance model allows users to contribute ideas and participate in key decisions, building a multi-dimensional and sustainable social ecosystem.
Builder Fi
It focuses on supporting developers and creators to build DApps, providing a comprehensive toolkit for developing and deploying DApps, while creating profit opportunities for developers and content creators, encouraging collaboration and innovation, and promoting the growth of the blockchain ecosystem and user community.
Aerodrome Finance
Combining social networks with financial services provides a decentralized market for social tokens and investments, where users can trade tokens, invest in social projects, and earn rewards based on their social influence, promoting the integrated development of finance and social interaction.
AI
At present, there are various types of AI-related products on Base, which can be divided into infrastructure and development tools (such as AI computing resource network Atoma Network), finance and payment (such as AI Wallets launched by Coinbase), creation and entertainment, games, etc.
Currently, the most popular AI protocol on base is Virtuals Protocol, and Golden Finance focuses on introducing this social protocol.
Virtual Protocol
It is an AI protocol based on Base. Virtuals Protocol has two main product functions: 1) as a co-ownership layer for AI agents, representing the long-term roadmap of the protocol; 2) as an AI agent launchpad, where anyone can easily deploy AI agents, similar to how Pump.fun served as a memecoin launchpad.
A key factor in Virtuals Protocol’s rise is their AI agent Luna (LUNA). Luna is an AI character based on LLM technology. Luna, a virtual idol IP with over 500,000 fans on TikTok, plays a visual virtual character 24 hours a day, communicates with users in real time, and brings a new experience beyond pure text communication through audio-visual stimulation.
Related Token Introduction
In 2024, AI projects on the Base chain will see rapid development. The market value of Virtuals Protocol's token VIRTUAL was about $1.4 billion on December 3; its AI proxy token LUNA also performed well, with a market value of over $60 million on December 3. The popularity of Virtuals Protocol has driven the AI boom in the Base ecosystem, and has also attracted more developers and project parties to pay attention to and enter the AI field of Base.
Atom Network
The decentralized, scalable, and permissionless AI computing resource network provides powerful computing support for AI projects, helping to solve the problem of the need for large amounts of computing resources during AI training and operation.
Covalent
Modular data infrastructure is used to solve the problem of AI verifiability. By providing reliable data sources and verification mechanisms, it ensures the accuracy and credibility of the data used for AI model training and decision-making.
Nani.ooo
An operating system designed specifically for on-chain AI agents and crypto automation, it provides the underlying infrastructure for AI agents to perform on-chain operations and automate cryptocurrency transactions, enabling AI agents to interact with blockchain networks and perform tasks more efficiently.
AI Wallets(Coinbase)
The AI Wallet launched by the Coinbase developer platform provides cryptocurrency wallet capabilities for AI-based autonomous agents, enabling AI agents to transfer value and manage assets, facilitating the application of AI in financial transactions.
Aperture Finance
The intent-based DeFi protocol uses an AI-driven intelligent liquidity management system. Users can express their investment intentions in natural language and automatically complete complex DeFi operations, lowering the threshold for ordinary users to participate in DeFi investment.
Zotto.ai
The intent-driven intelligent agent center integrates the perpetual contract exchange. The AI agent can automatically execute trading strategies, position management, governance voting, and reward collection operations, supports up to 25x leverage, and ensures security through account abstraction technology.
DeFi
At present, the DeFi projects on Base have ushered in a big explosion, especially the rise of projects such as Aerodrome, which has driven the activity and innovation of the entire ecosystem. The DeFi products on Base mainly include the lending protocol Moonwell and the yield aggregator Beefy Finance.
Among them, DEX Aerodrome has the strongest development trend. DefiLlama data shows that Aerodrome is currently at the top of the list, contributing about 43% of the BaseTVL.
Aerodrome
It combines the advantages of Curve, Convex and Uniswap V2 into one AMM. It adopts the Ve(3,3) model, and its Ve(3,3) mechanism is based on Curve's veCRV model and OlympusDAO's 3v3 mechanism, and has been optimized and adjusted to adapt to ecological development. This mechanism provides a unique reward model that promotes the stable development of the ecosystem by incentivizing long-term holders and active governance users. Aerodrome also helps users optimize asset management and participate in liquidity mining activities through efficient liquidity management tools.
Moonwell
It is an open lending DeFi protocol built on Moonbeam, Moonriver and Base, allowing assets within the Polkadot ecosystem to be used as collateral in DeFi applications. It has a rapidly growing user base and a high TVL, providing users with convenient lending services, making assets more productive and combinable with assets from other ecosystems.
Avantis
As a platform with CEFI on the front end and DEFI on the back end, it is a leading market maker covering a variety of assets, allowing traders to use complex financial derivatives such as perpetual contracts and providing leverage up to 1:100. It also innovatively launched loss protection services and cooperated with Chaos Labs to protect liquidity sources and ensure transaction security.
Beefy Finance
It is a multi-chain yield optimizer that helps users get the maximum return on their assets without having to worry about daily harvesting costs and hassles. It automatically finds and participates in high-yield opportunities in various DeFi protocols through smart contracts, optimizes investment portfolios for users, and improves capital utilization efficiency.
SeamlessFi
Focusing on lending business, its governance token SEAM can be used to pay protocol-related fees, etc. The protocol introduces innovative lending solutions including over-collateralized and under-collateralized loans, and integrates the liquidity market to provide users with a variety of lending and payment options.
Payment
In addition to product features such as social and Meme that are very close to users, the Base chain is also actively integrating Web2, which is reflected in its active payment layout.
In September 2023, Circle officially announced its support for the Base chain and issued USDC on the Base chain. On June 27, 2024, Coinbase and payment company Stripe have reached a partnership. Stripe will integrate Base into its cryptocurrency payment products, and Coinbase will use Stripe as a way for its customers to purchase cryptocurrencies in Coinbase wallets using credit cards or Apple Pay.
Additionally, Coinbase customers will be able to use the stablecoin USDC through Base on Stripe to simplify fiat-to-crypto conversions and facilitate money transfers to more than 150 countries.
The cooperation between Coinbase and Stripe mainly revolves around integrating the USDC stablecoin into the Base chain, which will promote the global adoption of cryptocurrencies. Adding support for USDC on the Base chain to Stripe's crypto payment function will enable faster international fund transfers. Coinbase will integrate Stripe's fiat-to-cryptocurrency portal into the Coinbase wallet, further simplifying the user's purchase process. The cooperation between Coinbase and Stripe is conducive to expanding the acceptance and use of USDC worldwide.
PortalPay
The payment service launched by the Web3 gaming platform Portal was officially launched on the Base network on August 16, 2024. It aims to unify the Web3 gaming space by gradually integrating different ecosystems, allowing active users of the Base network to access Web3 games on various blockchains uninterruptedly throughout the year.
Onboard Wallet
The crypto wallet launched by nestcoin allows users to spend, trade, send and exchange crypto assets through bank accounts without relying on centralized exchanges or third-party over-the-counter suppliers. Users can also provide liquidity to the Onboard network as merchants (through KYC) to earn transaction fees. Currently, the wallet can be used for online and in-store payments in more than 160 countries.
Base God
Its native token TYBG can be used for payment within its ecosystem. The project has also launched a metaverse space called "temple" to host various events and serve as a community hub for users to conduct live competitions, interviews, and social interactions. TYBG can also be used to reward community participation and as an investment tool.
