Base’s Bold Leap in Layer 2 Battle – Quirking Up the Chain Wars

The battle for dominance in the Layer 2 space is gaining momentum, and Base is swiftly taking the lead with a unique strategy: the absence of the $BASE token. Unlike most large Layer 2 chains that have their token, Base’s decision not to tokenize sets it apart. Many users gauge interest in a chain primarily through the token’s price. The dropping price often shifts attention elsewhere. However, Base’s decision to skip tokenization has manifold advantages: no utility or distribution concerns, focus on ecosystem development, both technically and financially, no clashes with the US Government, and setting Base apart from other L2 options.

The ongoing Onchain Summer Event aims to onboard the next billion users on-chain, creating a significant buzz. And this, according to many, is just the beginning. If you’re interested in investing or speculating on Base, keep an eye on Coinbase’s stock, $COIN, which saw a 120% increase in July. In just 14 days, Base generated ~$1.8 million in revenue, a figure with strong potential, given the chain’s early development stage. Daily active addresses are surpassing both Optimism and Avalanche, closing in on Arbitrum. Total Value Locked (TVL) has reached over $100M in just 14 days, promising continuous growth.

In terms of the competitive landscape, Binance, a major competitor, exploded at the start of the bull market, so consider earning opportunities in the current bearish cycle. And here’s a little lifehack for you: want to save on fees when sending ETH to Base? Use @Orbiter_Finance; it’s cost-effective from Arbitrum and cheaper than using the official bridge.

Let’s not forget the projects that are quirking up the Base chain. DackieSwap 🦆 is the first native DEX on Base, fostering community and introducing StableSwap. BaseSwap_Fi 🔵 holds the top position in the ecosystem’s TVL ($48M). RocketSwap Labs 🚀 is pioneering meme coins, leading $BASE DEX even before Base’s official release. And the community is already abuzz with over 30 NFT projects thriving on #BuildOnBase.

Base’s strategic launch, without a token, represents an innovative leap in the blockchain universe. The battle among Layer 2 chains extends beyond technology, reflecting distinct approaches, visions, and community engagements. In this vibrant environment, where DackieSwap’s quirky finesse and Base’s focused strategy have made the Chain Wars lively and full of surprises, a note of caution is essential. There are numerous scammers on platform ‘x’ promoting arbitrary airdrop suggestions for Base projects. Always follow official ‘x’ handles and stay away from unauthorized sources to ensure your security in this base-ically thrilling yet cautious landscape.

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Maria Irene
Maria Irenehttp://ledgerlife.io/
Maria Irene is a multi-faceted journalist with a focus on various domains including Cryptocurrency, NFTs, Real Estate, Energy, and Macroeconomics. With over a year of experience, she has produced an array of video content, news stories, and in-depth analyses. Her journalistic endeavours also involve a detailed exploration of the Australia-India partnership, pinpointing avenues for mutual collaboration. In addition to her work in journalism, Maria crafts easily digestible financial content for a specialised platform, demystifying complex economic theories for the layperson. She holds a strong belief that journalism should go beyond mere reporting; it should instigate meaningful discussions and effect change by spotlighting vital global issues. Committed to enriching public discourse, Maria aims to keep her audience not just well-informed, but also actively engaged across various platforms, encouraging them to partake in crucial global conversations.

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