Author: Alex Wacy, Crypto KOL

Translation: Felix, PANews

The competition in Layer2 is becoming increasingly fierce, and currently Base is maintaining a leading position. However, it has a "secret weapon": it does not rely on the BASE token. This article takes you deep into the reasons and how to profit from it.

Leading Layer2 networks usually have tokens, and many users unfamiliar with on-chain analysis mainly rely on token prices to measure. When token prices fall, most users will shift their attention to what is growing.

But Base does not need tokens. Its main goal is to onboard the next billion users to the chain. Base is currently hosting the Onchain Summer Event, causing quite a stir on-chain.

Advantages of not issuing tokens:

• No need to worry about token utility or distribution issues
• Focus on the development of the ecosystem in terms of technology and finance
• No need to worry about regulatory issues from the US government
• Distinguishes Base from other L2 networks

For investors interested in becoming part of Base, there is also a "speculative" opportunity, as its developer Coinbase is listed on the US stock market with its own stock COIN, which has experienced significant fluctuations. In July, COIN rose by 120%, while the ARB token only rose by 18%.

Revenue

In 14 days, Base has generated approximately $1.8 million in revenue. Given that the network is still in its early stages of development, the revenue may continue to remain at a high level. For comparison, the revenue of other Layer2 networks in early August was:

• OP: $342,000
• Arbitrum: $341,000

Daily Active Addresses

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

TVL (Total Value Locked)

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

Binance is the main competitor of Coinbase. BNB Chain began to surge 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 for making 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 DEX platform Aerodrome is about to be deployed on Base. The launch parameters of Aerodrome are strategically designed to encourage early adopters while ensuring a viable long-term path. The initial supply of 500 million AERO tokens will include 450 million (90%) veAERO tokens, securely locked to ensure stability and balance.

DackieSwap

DackieSwap is the first native DEX on Base. Its main function is StableSwap, providing users with optimized trading routes. In addition, the project includes a comprehensive ecosystem that encompasses NFTs and Launchpad. The project was created entirely from scratch by the community, with a highly rewarding loyalty system and various activities where participants can win DACKIE tokens. Overall, the development of this project highlights the underestimated power of the community.

Base Swap

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

The token BSWAP is currently trading at approximately 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 one of the top DEXs on the BASE chain, with a certain user base, and has launched multiple meme tokens through its platform.

NFT

Base has the potential to become an excellent NFT chain. The Onchain Summer Event kicked off with NFT minting, including works from Deekay Motion. Now, a new minting event from the card game "Parallel" has also begun. There are more partners lined up to issue NFTs, including the Coca-Cola Company. Several projects aiming to seize market share have already emerged in the community.

Users can now create their own Coinbase profile for free using the Coinbase Wallet. After installing the wallet, the system will prompt you to create a profile immediately.

Considering the influence of various factors, Base has enormous potential. It is worth keeping an eye on how its future development unfolds.

Related reading: An Inventory of Projects and Opportunities Worth Paying Attention to in the BASE Chain Ecosystem

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