Base’s potential has always been clear.
Now, with skyrocketing activity, scaling infra, a new app, and a token (potentially) on the way, it’s entering a new age.
To dig deeper, I spoke with @jessepollak about what’s driving Base’s growth — and the vision going forward 👇
~~ Analysis by @davewardonline ~~
Base Chain
Since spring, @base's chain has evolved significantly. DeFi TVL has nearly doubled to $5B, with protocols like @MorphoLabs and @aave tripling their value locked. Morpho’s Bitcoin-backed loans, integrated with Coinbase, have grown 10x to $720M in borrows. Coinbase now allows direct USDC deposits to Morpho vaults for yields above 4%, a timely move as rate cuts loom.
Technologically, Base has advanced:
➢ Flashblocks: Launched July 16, reducing block times from 2 seconds to 200 milliseconds, enabling near-instant transactions for platforms like @avantisfi and @AerodromeFi.
➢ Stage 1 Decentralization: In April, Base introduced permissionless fault proofs and a security council, enhancing security and setting the stage for token exploration.
Vitalik Buterin recently praised Base’s decentralization efforts on Bankless, calling it a secure Ethereum extension.
Exploring a Network Token
Jesse emphasized that Base is exploring, not launching, a network token. He cited @zora and @virtuals_io’s flywheels, which pair tokens with ecosystem incentives, and SYND’s community-driven liquidity model as inspirations. Such mechanisms could further decentralize Base and align builders and users.
Base <> Solana Bridge
Base Camp announced a native Solana bridge, enabling users to deposit SOL into Base apps, transfer assets between chains, or trigger cross-chain transactions, fostering interoperability.
The Base App
Launched in July to replace Coinbase Wallet, the Base App aims to make onchain experiences social and accessible. It supports chatting, trading, posting (with earnings), and discovering apps.
Over $500K in creator earnings have been paid out, with most active users earning. The waitlist, Jesse explained, ensures a polished experience for the initial 100K users before scaling. The app’s feed, chat, and mini-apps create a familiar interface for onboarding and engagement.
Building the Builder Economy
Base prioritizes builders, offering tools and programs to reward innovation without cumbersome governance:
➢ Plug-and-Play Tools: Base Pay enables USDC checkout with 1% cashback; Sign on with Base simplifies account creation; Flywheel protocol streamlines reward programs.
➢ @buildonbase: A dashboard for mini-app developers, providing real-time analytics and monetization via builder rewards.
➢ Base Batches: A global program for pre-accelerator talent, supporting ideation and offering incubator spots and funding.
Base’s grants are awarded retroactively, with the core team nominating impactful projects via a dedicated Slack channel for rapid capital deployment.
--
As Jesse reflected, Base's biggest achievement might be its ability to block noise while maintaining mission-locked building. Despite creator coin controversies, token speculation, and the constant crypto news cycle, the team has built cultural antibodies strong enough that major announcements spark growth discussions rather than speculative frenzies.
As the network prepares for its next stage, this base will prove critical to ensuring its success as the connective tissue between ecosystems, the social layer for onchain activity, and the proving ground for what crypto can become when it prioritizes builders and users over speculators.
It’s still day one for the chain, as Jesse clarifies. But with momentum like this, day one looks to be building towards something much bigger.
Now, with skyrocketing activity, scaling infra, a new app, and a token (potentially) on the way, it’s entering a new age.
To dig deeper, I spoke with @jessepollak about what’s driving Base’s growth — and the vision going forward 👇
~~ Analysis by @davewardonline ~~
Base Chain
Since spring, @base's chain has evolved significantly. DeFi TVL has nearly doubled to $5B, with protocols like @MorphoLabs and @aave tripling their value locked. Morpho’s Bitcoin-backed loans, integrated with Coinbase, have grown 10x to $720M in borrows. Coinbase now allows direct USDC deposits to Morpho vaults for yields above 4%, a timely move as rate cuts loom.
Technologically, Base has advanced:
➢ Flashblocks: Launched July 16, reducing block times from 2 seconds to 200 milliseconds, enabling near-instant transactions for platforms like @avantisfi and @AerodromeFi.
➢ Stage 1 Decentralization: In April, Base introduced permissionless fault proofs and a security council, enhancing security and setting the stage for token exploration.
Vitalik Buterin recently praised Base’s decentralization efforts on Bankless, calling it a secure Ethereum extension.
Exploring a Network Token
Jesse emphasized that Base is exploring, not launching, a network token. He cited @zora and @virtuals_io’s flywheels, which pair tokens with ecosystem incentives, and SYND’s community-driven liquidity model as inspirations. Such mechanisms could further decentralize Base and align builders and users.
Base <> Solana Bridge
Base Camp announced a native Solana bridge, enabling users to deposit SOL into Base apps, transfer assets between chains, or trigger cross-chain transactions, fostering interoperability.
The Base App
Launched in July to replace Coinbase Wallet, the Base App aims to make onchain experiences social and accessible. It supports chatting, trading, posting (with earnings), and discovering apps.
Over $500K in creator earnings have been paid out, with most active users earning. The waitlist, Jesse explained, ensures a polished experience for the initial 100K users before scaling. The app’s feed, chat, and mini-apps create a familiar interface for onboarding and engagement.
Building the Builder Economy
Base prioritizes builders, offering tools and programs to reward innovation without cumbersome governance:
➢ Plug-and-Play Tools: Base Pay enables USDC checkout with 1% cashback; Sign on with Base simplifies account creation; Flywheel protocol streamlines reward programs.
➢ @buildonbase: A dashboard for mini-app developers, providing real-time analytics and monetization via builder rewards.
➢ Base Batches: A global program for pre-accelerator talent, supporting ideation and offering incubator spots and funding.
Base’s grants are awarded retroactively, with the core team nominating impactful projects via a dedicated Slack channel for rapid capital deployment.
--
As Jesse reflected, Base's biggest achievement might be its ability to block noise while maintaining mission-locked building. Despite creator coin controversies, token speculation, and the constant crypto news cycle, the team has built cultural antibodies strong enough that major announcements spark growth discussions rather than speculative frenzies.
As the network prepares for its next stage, this base will prove critical to ensuring its success as the connective tissue between ecosystems, the social layer for onchain activity, and the proving ground for what crypto can become when it prioritizes builders and users over speculators.
It’s still day one for the chain, as Jesse clarifies. But with momentum like this, day one looks to be building towards something much bigger.
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