Best Twitter threads of the day – August 9th

BASE Mainnet Starts Tomorrow – Projects will be Launching at Low Valuation

Here are the Top Projects on BASE that could Pump Massively

[⚠️𝐖𝐀𝐑𝐍𝐈𝐍𝐆: 𝐏𝐔𝐑𝐄 𝐔𝐍𝐀𝐃𝐔𝐋𝐓𝐄𝐑𝐀𝐓𝐄𝐃 𝐀𝐋𝐏𝐇𝐀 – 𝐃𝐄𝐆𝐄𝐍 𝐀𝐋𝐏𝐇𝐀] pic.twitter.com/1TihHudZoK

— 0xJeff (@Defi0xJeff) August 9, 2023

1. @Baso_Finance

The First Solidly Fork on Base. For New Eco, Solidly Fork tend to attract TVL from Traditional DEXs due to its Flywheel

WL Launch is Coming in ~5 hrs
Valuation: $60k MCap at $600k FDV
Hardcap: 30 E
Allo: 3 E per Wallet

1/ pic.twitter.com/Llbf40miWB

— 0xJeff (@Defi0xJeff) August 9, 2023

2. @B_OHMstrong

We all know (3,3) model itself without the ve doesn't work. But that doesn't mean it wouldn't pump hard

Public TGE today at 19:00 UTC
Presale of 30 E was filled in 7 mins
TGE will be on @BaseSwap_Fi

2/ pic.twitter.com/RQDU4W5OqR

— 0xJeff (@Defi0xJeff) August 9, 2023

3. @BaseCasinoBot

First TG Crypto Casino on Base – Will come out with 6 games.

Fair Launch Today (Couldn't find the exact timing)

3/ pic.twitter.com/b6SsARgIDg

— 0xJeff (@Defi0xJeff) August 9, 2023

4. @aerodromefi@VelodromeFi cousin on Base. 40% Supply will be Airdropped to veVELO lockers. There's currently no official announcements on wen TGE yet

Expecting "Soon"

5/ pic.twitter.com/z3tPr6Xx1t

— 0xJeff (@Defi0xJeff) August 9, 2023

5. @basetrade_xyz & @BMXonBase

Both Perp DEXs Launching on Base. Base Trade's Dapps Live on Testnets

Expecting the Launch to be "Soon"

6/ pic.twitter.com/cVYWu8gf8B

— 0xJeff (@Defi0xJeff) August 9, 2023

Honorable Mentions to

• @BaseSwap_Fi #1 TVL DEX on Base ($20M TVL) ➨ Tokens still trading at extremely low FDV/TVL

• @perpboost First Aggregator & P2P Perps utilizing LSDs as Collateral ➨ Launched yesterday and has been performing very well

7/ pic.twitter.com/Y2HxaNgTfU

— 0xJeff (@Defi0xJeff) August 9, 2023

Coinbase's new Layer 2 'Base' is finally here.

It's one of the most exciting crypto product launches of the year, and will be home to countless new opportunities.

🧵: Here's EVERYTHING you need to know about Base, and how you can profit as an investor. 👇 pic.twitter.com/rZqGMkuITg

— Miles Deutscher (@milesdeutscher) August 8, 2023

WHAT IS BASE?

Base is an Ethereum Layer 2 scaling solution built using the Optimism stack.

It is designed to deliver the security and scalability of Ethereum at a fraction of the cost.

— Miles Deutscher (@milesdeutscher) August 8, 2023

Coinbase describes it as a product "built to bring the next billion users to web3."

Base has 4 core principles. It is:

• Secured by Ethereum
• Empowered by Coinbase
• Low cost
• Open source

— Miles Deutscher (@milesdeutscher) August 8, 2023

Base is leveraging the Optimism Stack to build its L2 (the set of software which powers Optimism).

They believe by following the "Superchain" vision, they can work towards increasing the interoperability of the L2 ecosystem to help "jointly scale Ethereum." pic.twitter.com/3Uucs9gMWS

— Miles Deutscher (@milesdeutscher) August 8, 2023

The model of a centralised business launching a decentralised chain isn't new. But it's certainly becoming a more popular trend.

Why? Well, from a business perspective it provides a new avenue to monetisation via fees – as well as exposure to an entirely new user-base. https://t.co/MBkt0MxFam

— Miles Deutscher (@milesdeutscher) August 8, 2023

Remember, Coinbase have been in the space for a long time.

They could've rushed launching a chain + token during the last bull run, but didn't.

Base is a very calculated move, executed by an experienced team. https://t.co/5VBsosDLg3

— Miles Deutscher (@milesdeutscher) August 8, 2023

THE BASE ECOSYSTEM

Many protocols have already announced their official launch on Base.

With over 30+ "outstanding" projects now live.

But there are many more coming.. https://t.co/zyoRK1gnHN

— Miles Deutscher (@milesdeutscher) August 8, 2023

In this Tweet, @BuildOnBase teased some of their new partners.@CocaCola in particular stands out.

Due to @coinbase's positioning in the industry, they have an advantage when it comes to attracting big name partners (I expect that this is the first of many). https://t.co/suoBUuq3dL

— Miles Deutscher (@milesdeutscher) August 8, 2023

Coinbase is a big company ($20b valuation), and thus has huge financial backing to invest in ecosystem and technological development.

This is Base's biggest drawcard.

— Miles Deutscher (@milesdeutscher) August 8, 2023

Coinbase is sitting on over $5 billion in cash, so they are well positioned to invest in the development of new products like Base. pic.twitter.com/vterVgacln

— Miles Deutscher (@milesdeutscher) August 8, 2023

We're already seeing a 100+ $ETH grants program for those building on Base this summer.

This is a sign of things to come. https://t.co/Yg94Fcrann

— Miles Deutscher (@milesdeutscher) August 8, 2023

Additionally, due to the reputation of Coinbase (which is hopefully aided by a positive ruling vs the SEC), new protocols may feel safer building there.

I have been speaking with a bunch of protocols recently who are all excited/interested by the proposition of building on Base.

— Miles Deutscher (@milesdeutscher) August 8, 2023

It's ironic that Base launched with the whole $BALD rug fiasco, because it's so far from the image that @brian_armstrong and @coinbase would want to portray for their new chain.

— Miles Deutscher (@milesdeutscher) August 8, 2023

However, it's crazy that even during that "unofficial" launch, Base did $700k in profit in just 3 days ($85m~ annualised).

Imagine the revenue generation potential when the chain gets off the ground. https://t.co/qcp3EizFAM

— Miles Deutscher (@milesdeutscher) August 8, 2023

However, they are facing stiff competition.

We currently have L2 solutions like $MATIC, $ARB, $OP and $IMX.

Not to mention the upcoming ZkSync, Starknet, Scroll, Linea and more.

It's probably the most highly competitive sector in crypto. https://t.co/gTXSyNHbqv

— Miles Deutscher (@milesdeutscher) August 8, 2023

However, Coinbase is uniquely positioned as a business to rise to the top.

It already has 110m+ users and $80b worth of assets on the Coinbase platform.

This gives them a massive advantage as they can leverage their existing user-base. pic.twitter.com/6HVAdfStqO

— Miles Deutscher (@milesdeutscher) August 8, 2023

Base will be prioritised when it comes to off-ramping (through lower fees/access), and feature DeFi integrations directly from the Coinbase exchange product.

— Miles Deutscher (@milesdeutscher) August 8, 2023

BSC is probably the closest retrospective example we have of how a major exchange can operate alongside a blockchain.$BNB (its utility token) was valued at $107b at its peak. If you use BNB's market cap as a proxy for "chain value" then you can see the potential here. pic.twitter.com/Fs0eHLqLMb

— Miles Deutscher (@milesdeutscher) August 8, 2023

HOW CAN YOU TAKE ADVANTAGE AS AN INVESTOR?

Well, as Base doesn't have a token there's no direct way to invest in the chain itself.

So let's explore the 3 remaining options.

— Miles Deutscher (@milesdeutscher) August 8, 2023

3. Invest in Coinbase stock ( $COIN )

It's hard to predict exactly what the net benefit to $COIN shareholders will be if Base succeeds, but what we do know is that a strong chain would only add to Coinbase's core business.

(I'm not a financial advisor, DYOR before investing).

— Miles Deutscher (@milesdeutscher) August 8, 2023

TIMING:

Interestingly, the Base launch comes in the lead up to one of the most significant Ethereum upgrades for Layer 2s: EIP-4844.

The upgrade, expected to go live late-Q4 this year, is set to reduce gas fees on L2s by an order of magnitude.

— Miles Deutscher (@milesdeutscher) August 8, 2023

Overall, I view this upgrade as a huge positive for the L2 space, as it will reduce barriers-to-entry for retail users by lowering cost, as well as making L2s comparatively more enticing to use vs ETH and other (more expensive) chains.

— Miles Deutscher (@milesdeutscher) August 8, 2023

So in summary, I'm excited for the future of Base and the upcoming opportunities it could unlock.

I think it's an undeniable positive for the DeFi space as a whole, and I'm looking forward to witnessing how the chain develops.

— Miles Deutscher (@milesdeutscher) August 8, 2023