Base chain 100+ ecological project layout: led by friend.tech, a vibrant new hot spot for Layer 2

Author: Karen, Foresight News

In the highly competitive and explosive Layer 2 track, Base, the Layer 2 expansion solution built by Coinbase based on OP Stack, opened the main network to developers in mid-July and officially released it on August 10.

Technology, popular models, ecology, and incentives (anticipation) are 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 resources.

As far as explosive models are concerned, Base has absorbed enough of the wealth effect after experiencing the ecological meme token BALD to walk out of the myth of a thousand times overnight. TVL breaks through 100 million US dollars to show the high popularity. 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 to Base.

Coupled with the expectation of potential airdrops, it triggered an upsurge 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, the Base TVL data is very impressive. According to L2BEAT data, currently, Base TVL has reached 240 million US dollars, ranking fifth in Layer2.

This article will summarize the Base ecology for readers. According to incomplete statistics, at present, the number of Base ecological projects has exceeded 100, and the scale is relatively complete, among which infrastructure accounts for half of the country, 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 locked positions and turnover, and many multi-chain DeFi projects such as Uniswap and Sushi have also expanded; currently, mainstream NFT markets and casting tools such as OpenSea and ZORA have also integrated the Base mainnet.

![Base chain 100+ ecological project layout: led by friend.tech, a vibrant new hot spot for Layer 2] (https://img-cdn.gateio.im/resized-social/moments-69a80767fe-b3858294de-dd1a6f-1c6801)

infrastructure

Cross-chain Bridge

In addition to Base's official bridge (which only supports cross-chain ETH between Ethereum and Base), Base's ecological cross-chain bridges include Orbiter Finance, Axelar, Bungee, Hop Protocol, LayerZero, Stargate, Wormhole, Debridge. The Across Protocol and Celer listed in the Base ecological portal do not currently support the Base main network.

**Onchain On-Ramp: **On-Ramp is considered to be an important channel for fiat currency and cryptocurrency exchange or transfer to on-chain wallets. The current Base ecological On-Ramp projects include:

Coinbase Pay: Supports 60+ fiat currencies and 100+ cryptocurrencies.

Moso: is a Web3 shopping assistant that rewards users with cryptocurrency for online purchases. According to Moso, 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 the conversion of digital assets into local fiat currency, supports Nigerian currency as well as bank transfers and mobile wallets, more currencies and payment methods will 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 within an app, website or web plugin, available on 170+ blockchains in 155 countries via cards, bank transfers and other payment methods cryptocurrency.

wallet

OKX Web3 Wallet already supports Layer 2 network Base, and simultaneously supports Base ecological DApps in the Discover section. Users can switch to the Base network with one click without manual configuration, and seamlessly trade, store and manage Base through the OKX Web3 wallet Ecological assets, and DApps that explore the Base ecology, etc.

Privy brings a Web2-level user experience (such as using email and social login) to Web3 products, and allows users to link any number of external wallets, as well as provide out-of-the-box integration tools. The social app friend.tech uses Privy's MPC wallet.

Uniswap Wallet has added support for the Coinbase L2 network Base, allowing users to exchange tokens and connect to Base DApps on the Base network.

Eco, the team behind the decentralized currency project Eco Protocol, has launched an encrypted wallet called Beam, which allows users to make payments on Layer2 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 include Bitget Wallet, Brave Wallet, Coinbase Wallet, Safe Wallet, Trust Wallet, TokenPocket, etc.

Knife

Base is supported by DAO solution providers Aragon and XDAO, community fundraising infrastructure Prop House built by Nouns DAO, DAO exploration and support protocol Tally.

other

WalletConnect, as a communication protocol that enables wallets and applications to connect and interact securely, also supports Base.

In terms of oracles, Chainlink, Pyth Network, and RedStone Oracles have been integrated with Base, allowing Base developers to access related sources and other Web3 services.

The tools and infrastructure for launching the Base mainnet also include node providers such as Ankr, Blockdaemon, QuickNode and Blast, block explorers such as Basescan and Blockscout, **The Graph, Goldsky and Covalent ** and other data indexers and Thirdweb developer tools, and cryptocurrency custody technology provider Fireblocks. In addition, blockchain data analysis platforms Dune and Nansen have also supported Base.

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, including BaseSwap ($54.57 million), Alien Base ( 24.1 million USD), etc.

Source: DefiLlama

In terms of transaction volume, in the past 7 days, the transaction volume in the Base ecosystem reached more than 400 million U.S. dollars, and DackieSwap took the lead, with a 7-day transaction volume of 300 million U.S. dollars, followed by Sushi and Uniswap, with a 7-day transaction volume of 40 million U.S. dollars above.

Source: DefiLlama

DEX

Uniswap, SushiSwap, Balancer, AMM protocol Maverick Protocol, WOOFi, DODO cross-chain aggregator DODO X have integrated Base. The DEX infrastructure 0x also announced that the 0x Swap API has been launched on Base. It first aggregates the liquidity between Uniswap, Balancer and Baseswap, and will integrate additional liquidity sources after they are launched. 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.

Base Swap

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 Base's 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 Base's 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 go to the DAO. The picture below is the roadmap of Alien Base.

Alien Base is not included in Base's 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 Base's official ecological portal.

Borrowing

In mid-August, the lending protocol Compound has been launched on the Coinbase L2 network Base, supporting the mortgage of ETH and cbETH to borrow cross-chain USDC (USDbC on Base).

The Aave community's proposal on "deploying Aave V3 on Base" has been approved, and the relevant activation proposal will end on August 19th.

Other lending agreements that have been launched or will be launched on Base include the lending agreement Moonwell on Moonbeam, the leveraged income strategy and loan agreement Extra, and the cross-chain lending agreement Pike Finance.

other

Beefy Finance is a multi-chain revenue optimizer that currently supports 17 networks including Ethereum, Polygon, BNB Chain, Arbitrum, Optimism, and Base. Beefy's Vault investment strategy helps users unlock more yield through automatic compounding (automatic claim, redemption and redeposit rewards).

Other DeFi projects such as the synthetic asset protocol Synthetix, the volatility protocol Volmex, the fixed investment tool MeanFinance, and the income aggregation protocol Harvest will also (will) be launched on Base.

NFT

NFT marketplaces OpenSea, ZORA, Showtime, Reservoir, generative art platform Highlight, NFT casting platform and tool Manifold, mint.fun already support Base. In addition, the Unlock Protocol, an NFT open source protocol built for membership and subscription, has also been integrated into the Base mainnet.

Additionally, Coca-Cola is launching the Masterpiece art collection on Base, bringing together iconic artworks and emerging pieces, all intertwined with Coca-Cola bottles.

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 Privy's MPC wallet, by binding user X (formerly Twitter) account, users can Buy any user's 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 app is officially launched.

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 volume

CyberConnect

CyberConnect, the Web3 social layer, announced this month that CyberAccount has been launched on the CoinbaseL2 network Base, introducing smart accounts supported by ERCC-4337 into Base.

Warpcast

Warpcast is a decentralized social protocol Farcaster client, and the NFT on Warpcast has been displayed on Ethereum, Base and ZORA.

Blackbird

Blackbird is a Web3 platform purpose-built for the hospitality industry, focused on creating a direct connection with its guests through loyalty and membership 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 iant, Circle Ventures, and IAC.

Other social networks that support Base include Friends With Benefits (FWB), Galxe, a Web3 community event platform, and more.

game

According to Base official, AnimocaBrands, Game7 DAO, Web3 game solution provider ChainSafe Gaming, blockchain game company Faraway, NFT sci-fi card game Parallel, adventure and competitive game Pixelmon, anagram game Words3, Yield Guild Games, etc. company or project.

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.

The 0xSplits modular smart contract is 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 that support Base include Mirror, a decentralized content publishing platform, etc.

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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