Author: David C

Translation: Luccy, BlockBeats

Editor's Note:

This article explores the significant position of Base in the on-chain ecosystem and its close integration with Coinbase. As a representative that has rapidly grown into an important participant within just one year, Base demonstrates its uniqueness through its collaboration with Coinbase, active developer and user ecosystem, and key partnerships with partners such as Stripe.

The article delves into how Base leverages its unique advantages, including technological innovation, strategic partnerships, and industry-leading position, as well as Coinbase's crucial role in driving its key role in the on-chain ecosystem. This article not only highlights Base's growth trajectory and its potential in the DeFi field, but also emphasizes the challenges and opportunities it may face in the future.

Base, the L2 solution under Coinbase, has quickly become one of the most eye-catching hotspots in the current on-chain landscape, firmly establishing itself as one of the most innovative aspects of Ethereum.

The rise and continuous development of Base has become a hot investment story that is hard to ignore.

Launched in July 2023, Base is built on the OP Stack and aims to achieve cheaper and faster Ethereum transactions, a key feature that has driven its success. Since its launch, Base has built a vibrant ecosystem covering DeFi, NFTs, and user-friendly applications, placing it at the forefront of all on-chain trends. It has partnered with Stripe to launch stablecoin services, becoming a hub for launching third-layer (L3) solutions, and has always been at the center of the liquidity rotation that constantly triggers the "Base season," even surpassing Optimism in on-chain TVL!

This article will explore the uniqueness of Base among other L2 platforms, how it gains momentum from Coinbase, and the rumored token airdrop, all of which make Base an unmissable destination on-chain.

What Makes Base Stand Out?

Base stands out due to its deep integration with the Coinbase ecosystem and its reputation as a consumer chain.

The integration of Base with Coinbase brings the exchange's large consumer base closer to the chain, laying the foundation for the construction of the builder and user community.

Ecosystem initiatives like Onchain Summer have helped developers and creators focus, making the chain a popular gathering place for users. Base continues to demonstrate its commitment to creators and fosters an experimental atmosphere, leading to many unique activities on-chain, including trading AI music with Crate, private conversations on friend.tech, and competitive activities in WorldPVP.

In addition, Coinbase provides rich tools for the chain, making on-chain life more convenient, with the most notable being their recently launched smart wallet, which simplifies the login process, eliminates lengthy recovery phrases, and allows dApps to pay gas fees on behalf of users.

These innovations collectively build a supportive ecosystem, rewarding builders who are trying new things, thereby maintaining user engagement and creating a casual, consumer-friendly atmosphere—something extremely rare in the life-and-death arena of DeFi.

Can Coinbase Propel Base to the Top?

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, aiming to ensure that potential users will operate on the chain with integrity. This is crucial not only for attracting Coinbase's 110 million users, providing a friendly and secure on-chain adventure, but also for enabling Base to establish important partnerships with major partners such as Stripe.

Partnerships: Base's collaboration with this financial services giant will have a dual effect, making L2 a high-speed payment highway, potentially competing with Solana, which benefits from large-scale stablecoin trading in this cycle, and showing other Web2 companies that Base is a reliable place to extend on-chain business. Endorsement by a mature global enterprise provides financial support, enabling Base to continue innovating and providing a variety of services to its community, such as cloud access, institutional portals, and an integrated development platform.

Marketing: Their strong financial reserves also serve as a powerful marketing machine, bringing Base and the entire industry closer to the public, benefiting from the company's regular television advertising support, making your parents stop and say, "Oh, I've never thought of it that way."

Political Power: Finally, no company is as actively engaged in developing relationships with regulators as Coinbase, to promote clear and effective regulation. From funding the "Support Crypto" initiative to regular meetings with senators and congressmen, this exchange continues to represent the entire industry. Although they are currently facing lawsuits themselves, the reputation they gain from this may become a barrier for Base when facing legal complexities. Additionally, this also means that the chain will be committed to enhancing security and compliance as an additional protective measure in case of issues.

In summary, the collaboration between Coinbase and Base not only provides credibility and financial support, but also enhances its potential with major partners, regulatory support, and broad market coverage, making it a strong competitor on-chain.

What Is the Situation with Base's Token?

Despite Base's rapid growth and success, it is still under development.

The platform's anti-fraud system is still in progress, meaning that Base is not fully decentralized yet. However, the team is actively pushing for the decentralization process.

Unlike other major L2 chains, Base currently does not have its own token and has not released any official announcements indicating that it will launch a token in the future. Nevertheless, many still believe that the chain will find a way to launch a token. While this currently means that there is no direct way to invest in the current success of the network, the potential for the future makes using the chain more attractive. Additionally, more direct incentives may come from the next retroactive airdrop from Optimism, considering that the previous airdrop rewarded creators across Superchain, including Base.

Until then, investing in tokens launched on L2 may provide an alternative way to be exposed to the Base ecosystem.

Advantages of Base

In just one year, Base has rapidly grown into an important on-chain participant with its integration with Coinbase, active developer and user ecosystem, and key partnerships with partners such as Stripe.

Coinbase's support not only provides credibility, financial support, and regulatory support for Base, which is crucial for its growth and stability, but also enables it to operate initiatives like Onchain Summer, rewarding on-chain activities and experiments, ensuring that there is always something new to do on the network.

Furthermore, the potential launch of tokens by Coinbase in the future also adds momentum to operating on Base, an experience that is increasingly simplified with the introduction of features such as the smart wallet.

With Base's expansion and innovation, its user-centric approach, advanced technology, and strategic partnerships supported by Coinbase make it one of the preferred destinations on-chain, and possibly the most significant one.

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