First Solana, Now Base. The Memes Must Flow!

GM, Anon! If you're not bullish on Base, are you even in the crypto game? Coinbase stands as the undisputed juggernaut of the North American crypto market, with a multifaceted approach spanning retail exchange services, groundbreaking development projects like the Base chain, and robust custodial solutions for institutional players. 

With major corporations entrusting their assets to Coinbase and most American users turning to Coinbase, the potential for growth is undeniable. Positioned to dominate both retail and institutional volumes in the world's most crucial crypto market, Coinbase is primed for expansion. 

Moreover, by actively engaging in the political sphere, Coinbase is solidifying its influence and paving the way for itself for a very bright future. With strong political ties, market dominance, and a burgeoning ecosystem, Coinbase could soon overshadow competitors and emerge as the foremost choice for retail crypto use. Watch out, Solana – Coinbase and Base are on the rise!

Coinbase has previously denied they will introduce a Base token however to achieve decentralization, they will inevitably require a token. One which you may eligible for by interacting with the chain (hint hint).

Today, we'll delve into:

• Key metrics on base

• How to benefit from growth on Base

• Explore Base protocols such as Frientech, Warpcast, Avantis and IntentX

Key Highlights of Base's Growth

Base's adoption is skyrocketing, with transaction data and TVL breaking new records. 

Since the end of February, TVL on Base has jumped from $386M to $776M, more than doubling in valuation and $1B in TVL is on the horizon.

Looking at the hottest apps on Base, we can see that Aerodrome is by far the biggest app with $340M TVL, with the top two Dapps being decentralized exchanges. 

Over the last two weeks, the number of new unique addresses entering Base far outpaced their L2 competitors like Arbitrum and Optimism.

These new addresses are not active users. They are busy interacting and making transactions. As a result, the number of transactions on Base has easily outpaced Optimism and Arbitrum.

Let’s look at the revenue generated. 

As you can see, overall revenue generated has crossed $1M, reaching as much as $1.64M on March 20! This is far higher than anything Base has ever generated.

Community and Dapp Engagement

The platform's strategic deployment of features like smart wallets, account abstraction, passkeys, and Wallet-as-a-Service (WaaS) is simplifying on-chain interactions for Coinbase's massive user base, many of whom may not even realize they're engaging with blockchain technology.

• The Base community is pivotal to its growth, with a call to action for developers and contributors to enhance visibility and participation. 

• This community-driven approach is crucial for the long-term vitality of the ecosystem.

• Dapp activity on Base has surged, with a notable 73% increase in Unique Active Wallets and a transaction volume reaching $1.03B, highlighting vibrant engagement and utility within the platform.

Nansen's analysis reveals a positive sentiment among "Smart Money" investors, with strategic buying and selling patterns that provide valuable insights for navigating the memecoin market on Base.

Now that we've established the fundamentals, let's delve deeper into strategies for capitalizing on developments within the Base ecosystem to maximize profits.

A World Of Opportunity

Base is still in its nascent stages, yet the momentum is steadily gaining traction. The recent revelation by CEO Brian Armstrong regarding a complimentary Coinbase NFT mint, coupled with hints of an impending airdrop, has fueled speculation and enthusiasm for the Base ecosystem. 

The outcome of the Dencun upgrade for Base has led to a substantial reduction in transaction fees, significantly enhancing Base's appeal to retail investors. Furthermore, the proliferation of Base-related memes, spanning from established favorites like Toshi and Brett to newcomers like Normie and Boge, highlights the burgeoning excitement surrounding Base. 

Let’s not forget, Base already had its trial run with Bald, which saw a rapid rise to an $80M market capitalization within 24 hours before crashing by 90% due to the developer removing liquidity. Although there's speculation about its ties to Alameda Research, the developer's identity remains a mystery. However, the Bald experience highlights Base's potential for meme-worthy volatility.

Additionally, notable developments such as the upcoming launch of Friendtech v2 by the end of April and the debut of Coinbase's Wallet-as-a-Service (WaaS) on March 8th, signify a pivotal juncture in Base's path towards mainstream adoption. So, how can you seize this opportunity? Let's delve deeper!

Follow The Money

Solana's congestion issues have become increasingly problematic, especially in facilitating the trading and deployment of memecoins. This bottleneck not only affects transaction speed but also hampers the efficient utilization of assets within the network. Moreover, the lack of robust mechanisms to mitigate sniping and whale activities in contracts adds another layer of complexity to Solana's challenges.

In response to these limitations, Base emerges as a promising solution, offering a viable pathway to address these pressing issues. With its innovative features and infrastructure, Base is positioned to attract users seeking a more seamless and efficient trading experience. 

Anticipating the potential of Base, savvy investors have begun strategically accumulating Base memes in recent weeks, recognizing the opportunity presented by its growing ecosystem and the imminent influx of mainstream users.

Furthermore, quantitative data indicates a noticeable shift in investor sentiment, with an increasing number of users transitioning their assets from Solana to Base. 

Get Your Hands Dirty

Some of the best opportunities you'll discover on Base will emerge through thorough due diligence. This can be accomplished in several ways. Utilize Dexscreener to monitor new token releases and those gaining significant traction. Alternatively, consider leveraging Nansen for deeper insights. While some features may require a pro account, users can still explore the platform's capabilities. Check out the post below to educate yourself on effective workflows.

Now, let's explore some immediate opportunities for you to leverage on Base.

Friendtech

Friend.tech operates as a social platform built on blockchain technology, which exploded in short lived popularity last year fueled by influencers. One of its key functionalities is token-gated chats facilitated by tokens known as 'keys,' which users can trade. This unique feature enables users to potentially capitalize on the increasing popularity of content creators within the platform.

• Friend.Tech is gearing up to release V2 of its platform in spring 2024 on Base, promising a host of new features and improvements. 

• While specific details are yet to be disclosed, the focus is on delivering a more streamlined and user-friendly interface. 

• With Friend.Tech's reputation for integrating cutting-edge technologies, users can expect a revitalized platform that meets the evolving needs of the digital landscape. 

• Despite some criticism regarding its performance and anonymity of founders, Friend.Tech has garnered significant attention and investment within the crypto community.

• Sign up below with the invite codes listed.

Invite Codes:

• ft-krk6bkj8

• ft-i2qa0bdq

• ft-lj54ct13

• ft-ilexv0wm

• ft-8o7cb7tl

• ft-qegv1ozo

• ft-j328po6r

• ft-xt8de0vz

• ft-jzdsx749

• ft-zwcy7716

• ft-x8nbzn6w

• ft-kv9xo698

• ft-b77n4tb2

• ft-dj8t98z0

• ft-f10k0vv6

• ft-t290xyse

• ft-sv4ndm4y

• ft-xe8v0row

• ft-c1v6zrmf

• ft-1k2wryc8

Farcaster

Farcaster is a decentralized social media protocol founded by Dan Romero and Varun Srinivasan in 2020. Most of its user activity is generated from Base. 

• Farcaster offers a range of integrated apps, with its most popular one being Warpcast, akin to Twitter, allowing users to post, follow, and interact with other users' content. What sets Farcaster apart is its focus on eliminating bot activity through a $5 sign-up fee and a storage unit system for posting limits. 

• The recent introduction of Frames, a feature allowing users to perform various actions within Farcaster apps without leaving the platform, has led to a surge in popularity,

• Click the button below to sign up to Warpcast to receive 50 Warps!

Avantis

Avantis is a tokenless crypto trading platform which has raised $4M that recently launched its perpetual swaps DEX on the Base network. VC investors is usually a good sign that a token will eventually follow.

• Developed as one of the initial trading protocols natively on Base, Avantis aims to address the challenge of balancing crypto futures markets, particularly appealing to retail traders. 

• Unlike traditional futures contracts, perpetual swaps don't have an expiration date, allowing traders to hold their positions indefinitely as long as they maintain sufficient collateral.

• Avantis differentiates itself by offering a unique approach to market maintenance, providing a guaranteed rebate to traders taking contrarian positions. This strategy aims to incentivize retail traders to participate in the market by mitigating some of the risks associated with leveraged trading. 

• During its two-month testnet run, Avantis saw significant traction, with over $5 billion in trading volume from 50,000 wallets, indicating a strong interest in its offerings.

• Sign up below to get involved with Avantis and position yourself for a potential future airdrop.

IntentX

IntentX is another tokenless cutting-edge OTC derivatives exchange that specializes in perpetual futures trading and has raised $4.3M from investors. At its core, IntentX incorporates advanced technologies like cross-chain communication, account abstraction, and SYMMIO settlement layer to revolutionize on-chain finance. 

• Launched in November 2023, the platform boasts over 250 tradable pairs with deep liquidity. 

• Utilizing an intent-based architecture, IntentX offers a novel approach to trading, allowing traders to express their intentions for execution by external solvers. 

• This innovative model enhances efficiency, liquidity, and scalability in on-chain financial markets, bridging the gap between decentralized security and centralized exchange liquidity. 

• Key features include trading perpetual futures on over 250 top crypto pairs, leverage of up to 60x, trader incentives for xINTX rewards, cross-margin accounts, sub-account support, non-custodial self-custody, permissionless access without KYC, and an intuitive UX with 1-click trading and integrated on/off-ramps.

• Click the button below to get involved with this cutting edge protocol and position yourself for a potential future airdrop.

That's a wrap for today! Stay safe and practice risk management. We hope you found today’s insights valuable and that they lead to profitable outcomes for you on Base. Stay tuned for more updates and strategies to maximize your success in the crypto market. Happy trading!