Overview of the Base Network Ecosystem and Potential Opportunities

In February of this year, a well-known trading platform announced the launch of the Ethereum L2 network Base, built on the OP Stack. Development was initially slow until the end of July when a meme token named BALD sparked a craze. The price of BALD skyrocketed in a short period, attracting a large number of users to the Base ecosystem, causing the total asset value on the chain to rapidly climb from millions of dollars to 80 million dollars. Notably, there was no cross-chain bridge supporting the Base network at that time, and users had to bridge assets through contract transfers.

Despite the significant drop in the price of the BALD token, the funding and attention it brought have not dissipated. According to data, the total asset amount of the Base network has currently reached 160 million USD, with the number of transactions even surpassing the once-popular L2 network Starknet. This article will provide you with a detailed introduction to the Base network ecosystem and explore potential investment opportunities.

DeFi Field

Base Swap

Base Swap is currently the largest decentralized exchange on the Base network, built on Uniswap V2. The platform has launched tokens and offers mining and vault features. Official data shows that the total locked value of Base Swap is approximately $34.5 million. However, the platform has not yet disclosed auditing information, so users should be aware of potential risks when participating.

It is worth mentioning that other well-known DEXs have also announced support for the Base network.

GranaryFinance

GranaryFinance is a lending market similar to AAVE, currently supporting multiple chains including Ethereum and OP. According to official data, its total locked value on the Base network is $380,000.

NFT Field

BakerySwap

BakerySwap launched the AI-based NFT series Punk X on the Base network in August, with a total of 10,000 pieces. The project uses tokens to represent the NFTs, aiming to enhance the liquidity of NFTs. 40% of the total token supply is allocated for fundraising, 40% for adding liquidity, and 20% for airdrops, marketing, and advisors.

As the first major development project on the Base network, BakerySwap raised over 1600 ETH in just half an hour, and the official fundraising was ended early due to high demand. According to official news, its NFTs will soon be launched on NFTSwap, where users can exchange PUNK NFTs at a 1:1 ratio.

Manifold/mintfun

Manifold is an NFT minting platform that now supports the Base network, offering functions such as NFT minting, claiming, burning, and airdropping. Mintfun, on the other hand, is an NFT minting aggregation platform that also supports the Base network. Users can view ongoing NFT projects being minted on the Base network and learn about the latest collectibles and popularity information. Currently, there are many startup projects issuing based on Mintfun, and users should exercise caution in their evaluations.

Social Field

friend.tech

friend.tech is an innovative fan economy product that recently launched on the Base network. The platform transforms personal influence into tradable shares, quickly gaining popularity due to its novelty, even causing the server to crash at one point. Its invitation code system also enhances social interaction among users, increasing the topic's relevance and reach.

In friend.tech, each account is equivalent to a token that can be bought and sold, with prices fluctuating based on supply and demand. After users purchase tokens of other accounts, they can enter private chat rooms to communicate with the account owner, as well as interact in chat rooms composed of all users holding that account's tokens.

Data shows that the single purchase price of the project's founder account shares has reached 1.4 ETH, while the single purchase price of a certain well-known blogger's account shares has even reached 2.3 ETH. The platform charges a 10% tax on each transaction, of which 5% goes to the account owner and 5% goes to the project party.

Currently, some users have developed scripts to monitor the situation of high-profile users joining friend.tech, in order to purchase their shares as soon as possible and sell them at a high price for profit after the price rises. It is rumored that the project may launch a points incentive program in the future to attract more users to participate.

Summary

Emerging blockchain ecosystems often contain rich investment opportunities. For developers and project parties, new chains represent new development space and attention. Early projects have the chance to dominate in certain areas, attracting a large number of users and funds. For ordinary users, due to the expansion needs of the ecosystem and project parties, as well as users' high expectations for new chains and new projects, early participation may provide timing and chip advantages.

As more projects build products on the Base chain, early investment opportunities will continue to emerge. However, the current market is still in the stage of competition for existing users, so one must remain vigilant when participating and exit at the right time. At the same time, it is essential to conduct due diligence before participating to reduce potential risks.