How can Base chain without tokens start Onchain Summer?

How can a tokenless base chain launch Onchain Summer?

Author: Alex Wacy, Crypto KOL

Translation: Felix, LianGuaiNews

The competition for Layer2 is becoming more intense, and Base currently maintains a leading position. But there is a “secret weapon” here: no need to rely on the BASE token. This article takes you deep into the reasons and how to profit from it.

Leading Layer2 usually has tokens, and many users who are not familiar with on-chain analysis mainly rely on the price of tokens to measure. When the token price falls, most users shift their attention to growing things.

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But Base doesn’t need tokens. Base’s main goal is to get the next billion users on-chain. Base is currently hosting the Onchain Summer Event, which has caused quite a stir on-chain.

Advantages of not issuing tokens:

• No need to worry about token utility or distribution issues

• Focus on technical and financial ecosystem development

• No need to worry about US government regulatory issues

• Distinguish Base from other L2

For investors interested in becoming Base investors, there is also an “opportunity for speculation”, with its developer Coinbase being listed on the US stock market and having its own stock COIN, which has fluctuated greatly in the past. In July, COIN rose by 120%, while the ARB token only rose by 18%.

Revenue

Within 14 days, Base generated about $1.8 million in revenue. Given that the chain is still in its early stages of development, revenue may continue to remain at a high level. As a comparison, the revenue of other Layer2s in early August was:

• Optimism: $342,000
• Arbitrum: $341,000

Active Address Number

The number of active addresses continues to grow, surpassing Optimism and Avalanche, and is now approaching Arbitrum. Market enthusiasm has not diminished. The new blockchain has brought countless opportunities, especially from industry giant Coinbase.

TVL

According to DefiLlama statistics, Base’s TVL reached over $100 million within 14 days. With the launch and expansion of numerous protocols on Base, TVL is likely to continue to grow.

Binance is Coinbase’s main competitor. BNB Chain started to explode at the beginning of the previous bull market when BTC broke through $20,000. Now, a similar situation is that the market has been in a bear market cycle for nearly two years. Therefore, there are potential opportunities to make money in the future.

But first, here’s a tip: to save on fees, you can use Orbiter Finance to send ETH to Base. This is the cheapest way to transfer from Arbitrum. Sending from Ethereum is also cheaper than using the official cross-chain bridge.

Velodrome

Velodrome is a leading ve (3,3) DeFi protocol, and its built DEX platform Aerodrome is about to be deployed on Base. The launch parameters of Aerodrome have been strategically designed to incentivize early adopters while ensuring a viable long-term path. The initial supply of 500 million AERO tokens will include 450 million (90%) veAERO tokens, which are securely locked to ensure stability and balance.

DackieSwap

DackieSwap is the first native DEX on Base. Its main feature is StableSwap, which provides users with optimized trading routes. In addition, the project includes a comprehensive ecosystem that includes NFT and LaunchLianGuaid. The project was created entirely from scratch by the community and has a highly loyal reward system and various activities where participants can win DACKIE tokens. Overall, the development of the project highlights the underestimated power of the community.

Base Swap

Base is the native DEX on the Base chain. Developed by the Based team for Based People. Base Swap has everything from simple to advanced features, including DEX, LP, Yield Farming, and Vaults.

The current trading price of the BSWAP token is about 10 times the IDO price. There is a certain level of risk in investing at this time. However, considering that BaseSwap occupies the top position in the ecosystem’s TVL ($48 million), it is worth paying attention to this token.

RocketSwap

RocketSwap is one of the early projects launched on BASE before its official release. RocketSwap has become a top DEX on the BASE chain with a certain user base and has launched various Meme tokens through its platform.

NFT

Base has the potential to become an excellent NFT chain. The on-chain summer event kicked off with NFT minting, including works from Deekay Motion. The new minting event from the card game “LianGuairallel” has also started. There are more partners coming up to issue NFTs, including Coca-Cola. There are already multiple projects in the community aiming to grab market share.

Users can now create their personal Coinbase profile for free using Coinbase Wallet. After installing the wallet, you will be prompted to create a profile immediately.

Considering the influence of various factors, Base has tremendous potential. It is worth paying continuous attention to how it will develop in the future.

Related reading: An inventory of projects and opportunities worth paying attention to in the Base chain ecosystem.

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