Solana's marketing potential is very large, and the effect is very good. It seems that it is on par with the Ethereum ecosystem. However, we are going to talk about the Ethereum ecosystem today. Although the current performance of the Ethereum ecosystem is relatively poor, the public chains of Ethereum layer2 seem to be able to perform well now. Speaking of the layer2 track, we have actually talked about it a lot before. What we are going to talk about today is a new one called base BASE. It is a bit late in development. The arbitrum one we are familiar with was launched in August 21, and this op was launched in December 21. This BSC is backed by Binance. In fact, in terms of background, it is more like the protagonist of our story today, BASe, but you have to know that this BSC chain was launched as early as February 22. So you said that our protagonist today, BASe, was only launched in August 23, and it has been less than a year so far, so it is really late.
Well, it’s late, let’s talk about how it developed. Communication with Jiawei; wuq6267 On the first day, on February 30, 2022, Coin Base announced that it would launch Ethereum’s Layer 2 project Base, so the Base Ecosystem Fund was established. After about a year of development and preparation, in February 2023, Coin Base announced the launch of BASe’s test network. The test network ran for half a year. Well, there were no big problems. The main network was also launched in August 2023. What about BASe’s marketing method after the launch? They also tried to promote the market, and they were quite generous. As soon as the official network was launched, they issued a MEME coin called BAlD. It increased by tens of thousands of times in a few days. Now it can almost be used as an active indicator of the BASe chain. With the recent rise in the popularity of the BASe chain, its popularity is also rising.
If you haven't heard of Bald, let's talk about friend.tech. You haven't even heard of it, right? Although this project is almost unfinished now, it was very popular half a year ago. It was officially launched on the basechain on August 10, 2024. Two months later, friend.tech TV l exceeded 50 million US dollars. What is the main purpose of this project? The main gameplay is that various big Vs can settle in their platform with one click and generate their own tokens. Fans can enter the big V's small group by purchasing tokens. At the beginning, various analysts on the whole network said that friend.tech combines fan economy and on-chain gaming, which is the future of socialfi.
Let's review why it was so popular at the beginning. Behind this, it must be that Basechain was quietly supporting and creating a wealth effect and engaging in marketing. Now, not only did friend.tech fail, but a number of other platforms also failed to succeed. So this model is almost at its end now. Although there are many innovations and opportunities in our industry, not all innovations are successful in the end. Well, after the friend.tech boom, Basechain seemed to gradually die down. Until this year's Cancun upgrade, Basechain ushered in a new wave of explosions. The founder of Baselove listed a large number of new projects on Basechain a few days ago, which was a clear sign of support for this. In the project list, friend.tech, which we mentioned before, is also listed. Everyone carefully observe this list. What are the applications written on these lists? Who is behind them? Behind them are a group of big investment institutions, such as paradigm, A16z multicoin dragonfly Variant Funds 1confirmation, etc., a group of well-known VC institutions in the crypto market. These VC institutions also have different investment styles. In the base ecosystem, there are two characteristics. On the one hand, there are gambler culture players headed by paradigm, and on the other hand, there are long-termists headed by A16Z. However, no matter what their investment styles are, they have only one goal, which is to bring more real users to base and build an active and prosperous love ecosystem together.
At present, the TVL of this base chain has also climbed to the 9th place of the mainstream supply chain, surpassing Optimism. Although the performance is good, it still needs to increase 6 times to catch up with Solana. In summary, the performance of this base chain is still good, so does it have real strength? Does it have the hard power to compete with Solana in the future? In fact, Da Piaoliang has studied it carefully, and its ecological logic is still interesting. This model may bring it greater growth space in the future.
Well, let's talk about why? First of all, the first point is that the pattern of this base is very large, so large that almost everything can be open for cooperation. Not only does it uphold the consistent compliance style of Coinbase, only providing services, not lacking any coins, and not cutting any leeks, but it also shares governance and income with ecological partners, and is good at sharing money. As early as when the kitchen network was launched, it jointly announced a governance and income sharing agreement with Optimism. Very early on, this base chain used OP Stack in technology selection. After signing this sharing agreement, this base and OP are also deeply bound at the two levels of intelligence and income, and can even be regarded as a family under the same ecosystem.
At the governance level, the two companies transferred the multi-migration governance rights to a group of independent community members distributed around the world. They formed a council, uh, it has a special name, called the Security Council. This council is not only responsible for the collection of the base network, but also responsible for the OP's blocks. So how do the two companies divide the money? How are they bound? That is, OP needs to pay a maximum of 118 million OPs to base in 6 years, and base will permanently provide income to OP. Why is base willing to do this? Because base thinks that your OP's governance system is already very complete, so I will use it directly. You let OP do the governance, and I will give you money. Do you think the pattern of base is big or not?
In addition to the big picture, it also has a big backer. The biggest difference between the ecosystem of the base chain and other chains is that it is backed by the compliant exchange Coinbase. Although Binance is several times higher than Coinbase, the United States, the actual controller of the world's finance, supports Coinbase much more than B-An. For example, B-An was fined and sanctioned some time ago, while Coinbase is deeply trusted by the SEC. All ETFs applied for by Bitcoin must use Coinbase as a third-party custodian. Every spot Bitcoin ETF has some relationship with Coinbase. So you can see that this is the role of a biological son.
With a strong backer like Coinbase, the foundation of Base is stronger, but the starting point of the applications made on the Base chain is also higher. For example, this project is a liquidity protocol called AERODROME. It is a forked protocol deployed on the Base chain by Velodrome Finance, the head protocol of OP. Its native token is called AERO. On January 25, Coinbase directly added AERO to its online chart. That’s great, you are about to be listed. So on February 27, this project announced that it had received a large round of investment from the BEST Ecological Foundation. The two investors invested real money, and what they got in return was not equity, but the aero token. Tell me, this ecological line is connected. After investing here, it is listed on the other side. This operation is so inspiring. So we can see that the Aero coin has risen 20 times in just one month.
It is not a MEME, it is a business token, and its growth rate is very amazing in this track. Well, this is just an example, but Da Piaoliang still believes that there will be more star projects on the base chain in the future, with Coinbase providing one-stop services for pulling the price. Well, as an exchange, does Binance serve projects on the BSC chain? Yes, but the support is not enough, such as the search. Although the BSc chain is very rich, the Tvl on it is very large, much higher than the base chain, but it still gives people a feeling of being big but not strong. Let's not talk about technical governance. In the past few years of development, the BSC chain has won the title of a dog chain. The B official has almost never supported the projects on their chain like Coinbase. For example, some time ago, a project called ents that was supposed to restore the glory of BSC directly staged a live broadcast of pulling the price and then smashing the price. It was supposed to restore the glory, but it ended up being slapped in the face, which discredited the BSC chain.
Not only that, some serious projects will also be dragged down if they are on the BSC chain. For example, the BIBI community, as an ownerless community initiated by Chinese, is a good project. It has been built from May 2023 to now, and has worked very hard and attentively, but has not achieved any results. Many big Vs say that it is because it is on the BSC chain that the BIBI project has been dragged down. If it were on other chains, BIBI would have taken off long ago. From this point of view, Binance's Bsc really has not built a brand, and this year's competitive environment is even worse. Too many L2 public chains want to seize the market. Therefore, if the Bsc chain does not support its ecological projects in this round, it is possible that the BsC chain will be eliminated.
OK, what about other L2 public chains? For example, Arbitrum Polygon and other old L2 public chains, they don’t have a top backer like Coinbase, so their ability to support their own ecological projects is very limited. Solana still had a backer before, right? After FTX went bankrupt, it didn’t have any backers. Maybe in the future it should find another exchange to bind to its ecosystem. Therefore, from the perspective of competition, at this level, the best performing model of supporting high-performance public chains is base.
At this point, some viewers must have asked, I am still optimistic about the Bitcoin chain and the Ethereum chain. They are so powerful that they don’t need any backing. It’s okay if you are optimistic about them, because I am also optimistic about them. However, there is a disadvantage of these two chains, that is, the performance may be a little worse. It’s okay to issue some assets and speculate on coins, but in the future, our blockchain application ecosystem will explode, and we still have to find some high-performance chains.
Okay, after saying so much, it’s time to focus on the money-making opportunities. First of all, Coinbase’s support for the base ecosystem can be regarded as brand support, so everyone can pay attention to the various head applications of the BEST chain, especially the Twitter of the founder of BEST. Another opportunity is that we predict that B-An may also learn from Coinbase in the future and start to support some star projects on its own chain. If so, there are some conscientious project parties on the BSC chain, and we can still pay attention to them. However, BSC is relatively difficult. After all, there are too many projects with “leek capital” on it, and it is too difficult to screen them. Everyone should keep their eyes open.
Finally, I can't help but sigh that working in our industry is like leaning against a big tree for shade. This base can be said to be born with a golden key. As long as there are high-quality projects on the Bestchain, there is a high probability that they can be listed on Coinbase. We all know that Coinbase itself, the company did not issue coins, but was directly listed on Nasdaq. As an important part of Coinbase's strategy, Bestchain will be forced to support by traditional Wall Street stock investors. I hope everyone can take advantage of Coinbase's support for Bestchain and reap our own wealth. Come on, brothers, pay attention to me, see you next time, bye.
