#PancakeSwap launched the #SpringBoard platform,
#PUMP ecosystem can Make BSC Great Again?
➤ Starting with PUMP
PUMP has gained immense popularity due to its decentralized, transparent, and open form of issuing and trading tokens. PUMP has different characteristics on different blockchains.
❚ Solana
#PUMP itself is an innovation from the Solana ecosystem, so the PUMP ecosystem on Solana was once the hottest.
❚ TRON
#Tron chain #TRON experienced a wave of popularity due to Sun Ge and the explosive success of the Black Wukong game.
Brother Bee has a summary - Trump has a MEME face, Musk carries a MEME flag, and Sun Ge embodies a MEME spirit. #Sun Yuchen
Because aside from Tron USDT, Sun Ge's contributions in terms of product and technological innovation are limited, but he has had a significant impact in generating hotspots. Of course, this influence contributes to the entire crypto industry, but his personality and influence are indeed more suited for the PUMP and #memecoin ecosystems.
On the other hand, the background of the Tron chain is the Huobi exchange, which is also under Sun Ge, creating a high expectation for the tokens on the Tron chain's PUMP platform.
❚ BASE
Recently, the PUMP products on #Base have shown signs of breaking out, with the background being the #Coinbase exchange, thus forming high expectations for the Base ecosystem.
➤ Comparison
Next, let's compare the prospects of the PUMP ecosystem on the above three blockchains with the BSC chain from several perspectives.
❚ Influence Perspective
CZ and He Yi's influence is not inferior to that of Sun Ge. CZ once ranked among the richest Chinese, with hints of four fingers... an inspirational sister from grassroots to success...
On the other hand, Binance has innovations in IEO, ecosystem chains, launch pools, etc., so Binance and BSC will not be labeled as MEME. However, the influence of the BSC ecosystem should be greater than that of the Tron chain.
❚ CEX Listing Perspective
Behind Solana are American institutions, behind the Tron chain is Huobi, behind BSC is Binance, and behind Base is Coinbase.
In comparison, the listing background behind Solana is as strong as that behind BSC. The listing background behind Tron is slightly weaker. However, the listing on Coinbase is likely to need to comply with regulations, which may raise the threshold for MEME listings.
❚ User Perspective
The number of active users on-chain in the last 90 days is shown in the picture:
The number of active users on the Solana chain is the highest, but there is a certain downward trend. Next is the Tron chain, but many of its active users should come from Tron USDT transfers and exchanges, and it's uncertain how many are related to pump products. Ronin is a gaming ecosystem, which is not strongly related to the pump ecosystem.
Comparing the active user numbers of BASE and #BSC, overall, the active user count on the BASE chain shows a certain downward trend, especially a significant decline in the last 10 days. The active user count on the BSC chain has shown a growth trend in recent days.
In 2021, during the peak phase of DeFi, the DeFi ecosystem on the BSC chain was exceptionally active, far surpassing Ethereum.
❚ Developer Perspective
The developer perspective is often overlooked. The consistent viewpoint of Brother Bee is that the market is not driven by demand, but rather by the supply side, which continues to innovate under the motivation to earn money, guiding the market.
Essentially, developers are users of public chains; they develop applications, and the end users are the users of these applications.
Comparing from the developer's perspective, BSC, Tron chain, and Base are all EVM compatible, which is the most suitable development environment for the current mature and largest developer community.
Solana is not developer-friendly, which is a consensus in the Web3 developer community. This is why Brother Bee has a long-term bearish outlook on the Solana ecosystem (there's no problem with Solana this round).
There's no point in saying more; let's look at the data. The number of developers developing smart contracts on various blockchains is shown in the picture.
In the last 90 days, the ecosystem with the most contract developers is the Base chain, followed by the BSC chain. In the last 10 days, the number of contract developers on the Base chain has decreased, while the number of developers on the BSC chain has significantly increased in October and November.
I believe there are not only this new product from PancakeSwap, @bakery_swap has also just launched a new AI Agent project IDO a few days ago.
As for the number of contract developers on the Solana and Tron chains, they did not make it into the top 5.
❚ Capital Flow Perspective
Statistics of cross-chain capital data from #Wormhole, #DeBridge, and #Axelar, calculating the capital flow for the last 20 days:
It is evident that Solana's net capital inflow has decreased and entered a net outflow phase. The capital flow performance of the Base and BSC chains shows a synchronous trend, but in the last two days, the capital inflow to the BSC chain has significantly increased, forming a complementary situation with the Base chain.
Wormhole has no data for the last 24 hours, and both Wormhole and Axelar have partnerships with the PancakeSwap platform, so only DeBridge's data for the last 24 hours is considered.
In the last 24 hours, in the DeBridge cross-chain protocol, the Base chain has a capital flow of $443,400 towards BSC, while the capital flow from BSC to the Base chain is only $241,900.
➤ Final Thoughts
The PUMP products on Solana may have entered a bottleneck period in competition due to being less developer-friendly. From the data, the Base and BSC ecosystems may have significant advantages in terms of innovative PUMP products.
In terms of influence and CEX background, BSC is clearly ahead, while Base is slightly behind due to regulatory factors.
In terms of on-chain active user engagement, the temporary status of Base and BSC is one of mutual rise and fall, standing against each other. However, the BSC chain had a prosperous DeFi phase in 2021, which may provide a better user base.
Observing the flow of on-chain funds, capital is flowing from the Base chain to the BSC.
Based on the analysis from the above perspectives, only the Base chain can compete with BSC. However, considering Coinbase's compliance and Binance's scale along with BSC's user base, while Base may compete with BSC in other products, BSC should have a clear advantage in the PUMP ecosystem.
Statement of Related Interests: I hold a significant position in #BNB
The data sources in this article will be specified in the comments.
