“Base is BSC for white people.”
I didn't write that, but it’s hilariously accurate. Someone reposted it in my X feed back in August (who remembers Onchain Summer?) when Base threw its hat into the ETH L2 ring.
A lot of Base's activity since the summer launch has been fueled by friend.tech, shitcoin listings, and speculation that Base will launch a native token (they're publicly denying it). Future $BASE token airdrop or not, with Optimism and Arbitrum dominating the rollups, hype building around the zero-knowledge projects (zkSync, Starknet), and other L2s like Linea and Mantle rolling out airdrop farming campaigns (who’s the one getting farmed? jk), it’s hard to imagine Base gaining traction until Retail Bro rejoins the chat.
As of December 2023, Base is 4th among the L2s with $329,199,519 TVL, 5.9% dominance (behind Arbitrum, Polygon and Optimism). Base’s value in the saturated ETH L2 ecosystem lies in its potential to onboard Coinbase users with less friction than their L2 counterparts. And there’s a lot of them. It can be an intro-level chain that opens new user to other chains, growing the overall user base (no pun intended) for the Etherverse. For that reason alone, Base is worth watching.
Data source: https://www.coingecko.com/en/chains/layer-2 Show Less
