The rise and sustained development of Base has become a hot investment story.
Authored by David C.
Translated by: Luccy, BlockBeats
Editor’s Note: This article explores Base’s prominent position in the on-chain ecosystem and its close integration with Coinbase. Representing a rapid ascent to a significant player within just a year, Base showcases its uniqueness through collaborations with Coinbase, an active developer and user ecosystem, and key partnerships with entities like Stripe.
The article provides an in-depth analysis of how Base leverages its unique advantages, including technological innovation, strategic partnerships, industry-leading status, and Coinbase’s pivotal role in driving its on-chain ecosystem. Highlighting not only Base’s growth trajectory and its potential in the DeFi space, the article also underscores the challenges and opportunities it may face in the future.
Coinbase’s L2 solution, Base, has swiftly become one of the most notable hotspots in the current on-chain landscape, firmly establishing itself as Ethereum’s most innovative corner.
Base’s rise and sustained development have become a compelling investment narrative that cannot be ignored.
Launched in July 2023 and built on OP Stack, Base aims to facilitate cheaper and faster Ethereum transactions, a critical feature contributing to its success. Since its inception, Base has cultivated a vibrant ecosystem spanning DeFi, NFTs, and user-friendly applications, placing it at the forefront of all on-chain trends. Collaborating with Stripe to launch stablecoin services, serving as a hub for launching Layer 3 (L3) solutions, and consistently being the liquidity hub that sparks “Base season,” it has even surpassed Optimism in on-chain TVL.
This article will explore Base’s unique attributes among other L2 platforms and how it gains momentum from Coinbase, including rumored token airdrops, all of which make Base an unmissable destination on-chain. Let’s begin!
What Sets Base Apart?
Base stands out significantly due to its deep integration with the Coinbase ecosystem and its reputation as a consumer chain.
Base’s integration with Coinbase brings the exchange’s vast consumer base closer to the chain, laying the groundwork for builder and user community development.
Initiatives like Onchain Summer have helped focus developers and creators, making the chain a popular gathering place for users. Base continues to demonstrate commitment to creators, fostering an experimental atmosphere that has facilitated many unique activities on-chain, including trading AI music with Crate, private conversations on friend.tech, and competitive engagements in WorldPVP.
Additionally, Coinbase provides rich tools for the chain, making on-chain life more convenient. Most notably, their recently launched smart wallet simplifies the login process, eliminates lengthy recovery phrases, and allows dApp proxies to pay gas fees on behalf of users.
These innovations collectively build a supportive ecosystem that rewards builders experimenting with new things, thereby maintaining user engagement and creating a casual, consumer-friendly atmosphere—a rarity in the cutthroat arena of DeFi.
Can Coinbase Propel Base to the Peak?
Coinbase’s support brings several key advantages that lay the foundation for Base’s success.
Trust: As one of the most well-known and trusted names in the industry, Coinbase adds credibility to the chain, ensuring potential users that the chain operates with integrity. This is crucial not only for attracting Coinbase’s 110 million users but also for providing a friendly and secure on-chain adventure, enabling Base to establish significant partnerships with major partners like Stripe.
Partnerships: Base’s collaboration with this financial services giant will have a dual effect, turning L2 into a high-speed payment highway, potentially competing with Solana, which benefits from large-scale stablecoin transactions this cycle, and demonstrating to other Web2 companies that Base is a reliable place to expand on-chain business. Endorsement by a mature global enterprise provides financial support, enabling Base to continue innovating and offer various services such as cloud access, institutional gateways, and integrated development platforms to its community.
Marketing: Their robust financial reserves also serve as a powerful marketing machine, bringing Base and the entire industry closer to the public, benefiting from regular television advertising campaigns supported by the company, prompting your parents to stop and say, “Oh, I never thought of that.”