Overview of Base’s ecological landscape: traffic fission carnival and inventory of 100+ projects
Original author: Karen, Foresight News
In the highly competitive and explosive Layer 2 track, Base, a Layer 2 expansion solution built by Coinbase based on OP Stack, opened its mainnet to developers in mid-July and officially released it on August 10.
Technology, popular models, ecology, and incentives (anticipation) are the necessary conditions for a Layer 2 to achieve long-term sustainable development. The four are indispensable and interlocking.
In terms of technology, Base relies on OP Stack, the open source modular toolkit of Layer 2 Optimism. OP Stack allows developers and project parties to customize the Layer 2 network according to their own needs, thereby accessing the Ethereum network and sharing security and resource.
As far as explosive models are concerned, after experiencing the ecological meme token BALD out of the myth of a thousand times overnight, it has absorbed enough of the wealth effect. The popularity can be seen from the fact that TVL exceeded US$100 million. After the launch of the mainnet, the social app friend.tech, as the first viral social DApp on the Base chain, focuses on Your social network is your net worth. While Fission expands its own influence, it also adds a lot of color to Base.
Coupled with the anticipation of potential airdrops, it triggered a wave of Base interaction. As a Layer 2 whose main network has been launched for a month and has been fully open for less than two weeks, Base TVL data is very eye-catching. L2 BEAT data shows that Base TVL currently reaches US$240 million, ranking fifth among Layer 2.
This article will summarize the Base ecology for readers. According to incomplete statistics, currently, the number of Base ecological projects has exceeded 100, and the scale is relatively complete, of which infrastructure accounts for half, including but not limited to bridges, On-Ramp, wallets, oracles, node providers, etc.; Base native DeFi projects It also accounts for a large proportion of lock-up volume and transaction volume, and many multi-chain DeFi projects such as Uniswap and Sushi have expanded there; currently, mainstream NFT markets and casting tools such as OpenSea and ZORA have also been integrated into the Base main network.
infrastructure
Cross-chain bridge
In addition to Bases official bridge (which only supports cross-chain ETH between Ethereum and Base), Base ecological cross-chain bridges includeOrbiter Finance, Axelar, Bungee, Hop Protocol, LayerZero, Stargate, Wormhole, Debridge, Cross-Rollup Bridge Owlto Finance. Across Protocol and Celer listed in the Base ecological portal currently do not support the Base mainnet.
Onchain On-Ramp
On-Ramp is considered an important channel for exchanging fiat and cryptocurrencies or transferring them to on-chain wallets. The current Base ecological On-Ramp projects include:
Coinbase Pay：Supports over 60 fiat currencies and over 100 cryptocurrencies.
Moso：It is a Web3 shopping assistant that rewards users for online shopping in the form of cryptocurrency. Moso said that Moso’s integration with Base’s Layer 2 blockchain technology will enhance the entire shopping experience. Every transaction made through Moso at supported online merchants will be securely recorded on the Base blockchain.
Onboard：Allows conversion of digital assets into local fiat currency, supports Nigerian currency as well as bank transfers and mobile wallets, with more currencies and payment methods to be added in the coming weeks.
Onramp Money：Base has been integrated allowing the purchase of cryptocurrencies in Indian Rupees, Turkish Lira, Mexican Pesos, Dirhams, and more via instant bank transfers and local payment methods.
Transak：Allows users to buy/sell cryptocurrencies in apps, websites or web plug-ins, using 170 cryptocurrencies on more than 75 blockchains via cards, bank transfers and other payment methods in 155 countries/regions.
wallet
OKX Web3 WalletAlready supports Layer 2 network Base, and simultaneously supports Base ecological DApps in the Discover section. Users do not need to manually configure, and can switch to the Base network with one click, seamlessly trade, store and manage Base ecological assets through the OKX Web3 wallet, and explore the Base ecosystem. DApp etc.
PrivyBrings a Web2-level user experience to Web3 products (such as using email and social login) and allows users to link any number of external wallets, as well as providing integration tools out of the box. The social app friend.tech uses Privys MPC wallet.
Uniswap WalletAdded support for Coinbase L2 network Base, allowing users to redeem tokens and connect to Base DApp on the Base network.
Eco, the team behind the decentralized currency project Eco Protocol, has launched a project calledBeamAn encrypted wallet that allows users to make payments on Layer 2 networks such as Optimism and Base. Beam integrates features such as Account Abstraction (EIP-4884), which enables wallets to act as smart contracts, and supports a range of features such as multi-factor authentication and wallet social recovery.
Other wallets that support Base includeBitget Wallet、Brave Wallet、Coinbase Wallet、Safe Wallet、Trust Wallet、TokenPocketwait.
DAO
DAO solution providerAragon and XDAO, a community funding infrastructure built by Nouns DAOProp House, DAO Discovery and Support ProtocolTallyBase is supported.
other
WalletConnect Base is also supported as a communication protocol that enables wallets and applications to connect and interact securely.
In terms of oracles,Chainlink, Python Network, and RedStone OraclesIntegrated with Base, enabling Base developers to access related feeds and other Web3 services.
The tools and infrastructure for launching the Base mainnet also includeAnkr, Blockdaemon, QuickNode, and BlastWaiting for node providers,Basescan and BlockscoutWait for block explorer,The Graph, Goldsky and Covalentetc. data indexer as well asThirdwebDeveloper Tools, and Crypto Custody Technology ProviderFireblocks. In addition, the blockchain data analysis platformDune、NansenBase is also supported.
DeFi
According to DefiLlama, as of writing, the current DeFi TVL on Base is 170 million US dollars, among which, the TVL of several native DeFi projects dominates, includingBaseSwap(USD 54.57 million),Alien Base($24.1 million), etc.
Source: DefiLlama
In terms of transaction volume, in the past 7 days, the transaction volume in the Base ecosystem has reached more than 400 million US dollars.DackieSwapLeading position with 7-day trading volume of $300 million, followed bySushi and Uniswap, the seven-day trading volume was above US$40 million.
Source: DefiLlama
DEX
Uniswap, SushiSwap, Balancer, AMM protocol Maverick Protocol, WOOFi, DODO cross-chain aggregator DODO XBase has been integrated. DEX infrastructure 0x also announced0x Swap APIAlready launched on Base, it will first aggregate liquidity between Uniswap, Balancer and Baseswap, and will integrate additional liquidity sources after they come online. Other DEXs listed on Base include:
DackieSwap
Forked from Uniswap V3, DackieSwap is the native DEX of the Base ecology, providing exchange and Launchpad services, and allowing more rewards to be earned through centralized liquidity market makers (CLMMs). The founder of DackieSwap is Andrew Eddison (Twitter account: @BaseOnAndrew).
DackieSwap has been included by DefiLlama, but it has not yet appeared on the ecological portal of the Base official website. According to DefiLlama data, the trading volume of DackieSwap in the past week has reached 300 million US dollars, the main trading pair is WETH/USDbC (280 million US dollars), but the locked position is only 1.7 million US dollars.
Considering that DackieSwap has already started IDO, and Base has just launched the main network, users are reminded to pay attention to safety.
BaseSwap
According to DefiLlama data, BaseSwap is currently the DEX with the highest locked-up amount on Base. As of writing, TVL has reached more than 50 million US dollars, accounting for nearly 42% of Bases 126 million-dollar locked-up amount.
BaseSwap allows for asset swaps, liquidity provision, mining, and also provides an NFT market platform. However, BaseSwap has not yet been included in the official ecological portal of Base, reminding users to pay attention to safety.
Alien Base
Alien Base is currently the second-highest TVL DEX on Base, with a current TVL of more than $21 million. Alien Bases liquidity mining program allows users to provide liquidity and stake LP tokens to earn ALB tokens. In addition, staking ALB tokens can also earn rewards and platform revenue, and up to 50% of platform fees will belong to the DAO. The picture below is the road map of Alien Base.
Alien Base is not included in Bases official ecological portal.
SwapBased
SwapBased is also a native DEX protocol on Base. According to DefiLlama data, the locked position of SwapBased is 19.31 million US dollars.
In addition to liquidity provision (0.25% transaction fee), unilateral pledge and other services, SwapBased also provides perpetual contract trading services. SwapBased is also not included in Bases official ecological portal.
borrow money
In mid-August, the loan agreementCompoundIt has been launched on the Coinbase L2 network Base and supports staking ETH and cbETH to borrow cross-chain USDC (USDbC on Base).
AaveThe community proposal on Aave V3 deployment on Base has been approved, and the current activation proposal will end on August 19.
Other lending protocols that have been launched or will be launched on Base include the lending protocol on MoonbeamMoonwell, leveraged income strategies and loan agreementsExtra, cross-chain lending agreementPike Financewait.
other
Beefy.FinanceIt is a multi-chain revenue optimizer that currently supports 17 networks including Ethereum, Polygon, BNB Chain, Arbitrum, Optimism, and Base. Beefys Vault investment strategy helps users unlock more income through automatic compounding (automatically claiming, redeeming and re-depositing rewards).
There are also synthetic asset protocolsSynthetix, volatility protocolVolmex, fixed investment toolsMean Finance, revenue aggregation agreementHarvest DeFi projects will also (will) be launched on Base.
NFT
NFT market OpenSea、ZORA、Showtime、Reservoir, Generative Art Platform Highlight, NFT casting platform and toolsManifold、mint.funBase is supported. Additionally, an NFT open source protocol built specifically for membership and subscriptionsUnlock Protocol Base mainnet has also been integrated.
In addition, Coca-Cola also launched on BaseMasterpieceAn art collection that brings together iconic artworks and emerging pieces, all intertwined with the Coca-Cola bottle.
social contact
friend.tech
friend.tech, as the first viral social DApp on the Base chain, focuses on Your social network is your net assets. Using Privys MPC wallet, by binding user X (formerly Twitter) account, users can Buy any users share (Share) on friend.tech through Ethereum, get the opportunity to have a direct and private conversation with them, and you may be able to get rewards from it.
It is worth mentioning that friend.tech will airdrop reward points to app testers starting this Friday, and plans to distribute 100 million points in 6 months (every Friday). Points are collected off-chain during testing and will be given special uses when the application is officially released.
As of writing, less than 10 days after the beta version was launched on Base, the number of independent users of friend.tech has exceeded 68,000, the cumulative number of transactions has exceeded 1.1 million, and the total transaction volume is close to 30,000 ETH.
Source: Dune, friend.tech Cumulative number of buyers and sellers
Source: Dune, friend.tech trading volume
CyberConnect
Web3 social layer CyberConnect announced this month that CyberAccount has been launched on the Coinbase L2 network Base, bringing smart accounts supported by ERCC-4337 to Base.
Warpcast
Warpcast is a decentralized social protocol Farcaster client, and the NFT on Warpcast has been supported on Ethereum, Base and ZORA.
Blackbird
Blackbird is a Web3 platform built specifically for the hospitality industry, focused on creating direct connections with its guests through loyalty and member services.
In October 2022, Blackbird completed an $11 million seed round of financing, co-led by Union Square Ventures, Shine Capital, and Multicoin Capital, with participation from Variant, Circle Ventures, and IAC.
Other social networks that support Base includeFriends With Benefits（FWB), Web3 community activity platform Galxewait.
game
According to Base official,Animoca Brands、Game 7 DAO, Web3 game solution providerChainSafe Gaming, blockchain game companyFaraway, NFT sci-fi card gameParallel, adventure and competitive gamesPixelmon, charadesWords 3 、Yield Guild Gamesetc. also for its ecological companies or projects.
other
Guild.xyz is a management infrastructure that allows automated membership management for the platforms already used by the community. Guild.xyz is bringing Guild models into projects built on Base.
0x Splits Modular smart contracts are used for safe and efficient on-chain payments, allowing users to split NFT sales revenue, recover fees, diversify revenue sources, withhold taxes, etc.
Other platforms supporting Base include decentralized content publishing platformsMirror wait.
It should be emphasized that the current Base ecosystem is still in its infancy, and most projects have not disclosed security reports or team information. Users are advised to participate cautiously.
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