Base issues' self punishment edict ': Three year route, awakened by Robinhood in two weeks? How to translate In the past two weeks, Robinhood Chain's active addresses have grown rapidly, even surpassing the million level. In contrast, Base, which has been online for over 3 years and is backed by Coinbase, has compliance advantages in the United States, and has access to millions of users, should have been the most likely L2 to become an entry point for ordinary users on the blockchain. However, it is now being rapidly caught up by a newly launched blockchain. This also explains why the Base ecosystem is frequently issuing 'self punishment edicts', indicating a shift in direction. In the past, Base spent a lot of resources betting on: SocialFi Creator Economy But the market feedback clearly did not meet expectations. With Cobie taking over the Base App, Coinbase's strategic game begins to reset. This is not only a reflection on the past "puzzle style" development path, but also a deep exploration of the future theme of encryption. For a long time, Coinbase has been accustomed to quickly filling the ecological puzzle through investment and acquisition of mature products. However, these independent product lines have always struggled to form a cohesive force. Nowadays, Base's goal has become clear: no longer to support a single application separately, but to deeply integrate wallet, social, trading, investment, and content distribution, fully impacting the ultimate narrative of "Super App". This profoundly outlines the genetic divide between Coinbase and Binance, as the two giants have chosen completely different expansion logics from the beginning. one ️⃣ Binance is more like a traditional Internet platform: it cultivates entrepreneurs in its own ecology. Binance will intervene in the early stages of the project, providing funding, traffic, market resources, and even helping the project complete a cold start. Essentially, it is a set of: Investment projects → User delivery → Project growth → Feedback to BNB Chain → Strengthening the closed loop of Binance ecosystem. So many top projects in the BNB ecosystem have obvious Binance genes, such as: StandX @StandX_Official U @UTechStables Predict fun @predictdotfun two ️⃣ Base's strategy is more like a typical Silicon Valley company: quickly gaining user access through capital and mergers and acquisitions. Coinbase is better at discovering validated products and then incorporating them into its ecosystem through acquisitions or integrations. User → Community → Product Capability → Ecological Network, this approach is similar to Google's acquisition of YouTube and Meta's acquisition of Instagram. The advantage is fast speed, which can bypass the early trial and error stage. For example: Vector @VECTORDOTFUN Echo @echodotxyz Deribit @DeribitOfficial The Biteye system has sorted out several core tracks shown in the following figure and compared the current ecological layout of Base and BNB Chain It can be seen that the real problem that Base is facing is not the lack of projects, but the lack of a unified entry point that can connect these projects. As competition enters the second half, there are Kraken on the left, which is aiming for an IPO, and Robinhood on the right, which has just proven its user on chain capabilities. The window of opportunity left for Base is constantly shrinking. The core capability of Super App, a wallet entry that can carry transactions, social media, content, and investments, is precisely the weakest link of Base at present. Acquisition can buy products, but it cannot buy integration capabilities. Even though Cobie is one of the most user savvy people in the encryption industry, understanding users and building a super entrance for billions of users are still two completely different propositions. There is currently no consensus on whether Base can succeed, but Robinhood has proven one thing in two weeks: the entrance battle for Crypto has begun to accelerate. The three-year trial and error time left for the Base chain in the past may only be a few months in the future.