Cryptocurrency exchange Coinbase launched the L2 public chain Base based on Optimism technology. Its developer mainnet was launched on July 13, and Base's mainnet will be officially launched at 9 pm today (9th).

Ranked 5th in TVL in Layey 2

As the cryptocurrency market revolves around the tonality of "speculating on the new, not the old", the Base chain has experienced an explosion in the first two weeks of its ecology, and even created a meme coin that is said to be a thousand times a day and is known as the Bald King$ BALD, and when the developer's mainnet is online, because users can only deposit funds into L2 through the Portal Proxy Contract, but cannot get the funds back to L1, it becomes a constant inflow of funds and The key to the crazy hype of meme coins.

Although there are currently only relatively basic ecological projects and assets on Base, according to L2BEAT data, as of press time, the Base chain ranks fifth among all Layer 2s, and the lock-up volume (TVL) has soared 58.68% again in the past 7 days, breaking through 100 million, reaching $134 million.

The oracle project Chainlink also announced last night that it has completed the price feed connection with Base. Base will be able to interconnect with external DeFi projects, and developers can already transfer existing applications to the Base chain.

Base Founder: Make money through apps

Before the mainnet goes online, Coindesk also held an interview with Base founder Jesse Pollak on Tuesday. Base's strategy, revenue potential, regulatory environment and other issues were discussed. Regarding Base's revenue, Jesse Pollak's imagination is to add more applications and projects.

Base is an investment in innovation, and I can say that Coinbase has always been profitable by making complex cryptocurrency things simple and easy to use, and then charging fees. As the number of things that can be done with cryptocurrencies increases, our view is that this will be very beneficial for Coinbase because the number of customers using the Coinbase interface will also increase, and we will have the opportunity to become profitable!

Regarding bearing the brunt of the SEC's regulatory punch, Jesse Pollak revealed his helplessness in his words, believing that current cryptocurrency companies need to spend too much effort and resources on facing legal and regulatory issues.

The current regulatory environment in many countries around the world is very unclear. If you talk to entrepreneurs who are building at Base, or any of the companies building in this space, what you'll hear is that they spend more money on legal counsel and regulatory defenses than they do on hiring engineers, building the product need more. So at Coinbase, we've been very consistent that this needs to change.