On-chain addresses exceed 12 million, taking stock of the novel products in the Base ecosystem

Author: Wenser, Odaily Planet Daily

As an L2 network with the grand vision of "leading 1 billion users into the on-chain society," the Base ecosystem undoubtedly ranks among the top tier in the industry for its inclusiveness of various application products. We have previously provided a brief introduction to some products in articles such as "In 5 Days, TVL Soared by $1 Billion: Exploring Wealth Opportunities in Base Ecosystem's Leading Projects," "Analyzing Sofamon: The Next friend.tech or Web3 Version of CM Show?" and "jam: A New Hope for Creator Economy in Base Ecosystem?"

On the early morning of June 14, Beijing time, Base's official announcement hinted at a collaboration with the world-class sports brand Adidas, sparking speculation about a new round of Base Onchain Summer, which has once again become the focus of market attention. This article provides a brief overview of some representative products in the Base ecosystem for readers' reference.

Social Applications

As an L2 ecosystem that has nurtured two well-known social protocols, Friend.tech and Farcaster, the enhancement of social products in Base is evident. Additionally, Farcaster, as a social protocol, provides a fertile ground and development environment for various types of social products. Therefore, social products will remain a significant component of the Base ecosystem for a long time. Although these products may not necessarily bring high TVL or profits to the Base ecosystem, they can continuously attract new users and traffic, which is precisely what countless L1/L2 blockchain networks dream of. Below are some representative products:

AlfaFrens

Warpcast followers: 29,000;

AlfaFrens is a new SocialFi application built on the Base ecosystem and Farcaster protocol, developed by the startup Superfluid that supports on-chain asset flows. It allows users to subscribe to KOLs using DEGEN tokens and access exclusive chat rooms, which can be seen as a "copycat product" of Friend.tech. Currently, no token has been issued.

Gemz

A social project that Base protocol lead Jesse Pollak is following, which previously sparked a "social viral trend" in April but later transformed into a social viral game project inspired by the TON ecosystem game Notcoin, currently the official Telegram channel has around 520,000 members, and the official account has about 430,000 followers. Currently, no token has been issued.

Drakula

Previously mentioned, this product can be viewed as a "Web3 version of TikTok," a short video social platform that has received an ecological incentive award pool of 20 million DEGEN tokens. It is still open to many creators with a creator fund worth $1 million, and the platform also borrows the token fan economy model from Friend.tech. Currently, no token has been issued.

Bountycaster

This is a task program created by LindaXie (former co-founder of Scalar Capital, Coinbase product manager), also built on the Farcaster protocol. Users can publish tasks by tagging @Bountybot when sending content on clients like Warpcast, and other users can claim corresponding tasks to receive rewards. Currently, no token has been issued.

Build

According to the official Warpcast channel, this is a social game designed to incentivize construction on the Base ecosystem. As indicated by a pinned tweet from its official account quoting Jesse's tweet, this is an incentive project aimed at builders in the Base ecosystem, developed by the team behind the on-chain social marketplace TalentProtocol. Users can nominate relevant candidates. The first season of BUILD token airdrop has been conducted.

BUILD official website interface

It is worth mentioning that influenced by the Farcaster protocol, many social products in the Base ecosystem, in addition to client applications like Warpcast, Recaster, and Launchcaster, are built on the Farcaster Frame mini-program framework. This not only provides some support for projects in their early stages but also somewhat limits the initial traffic pool for project development. It must be said that from a growth perspective, this is quite regrettable, but it also represents a unique landscape of the Base ecosystem.

Consumer Applications

Unlike social products, consumer applications are actually a significant component of the Base ecosystem with greater imaginative potential. After all, it has the advantage of being backed by Coinbase, a publicly listed compliant exchange, and can utilize its convenient payment interfaces like Coinbase Commerce. The main means to achieve the goal of "1 billion users entering the on-chain world" is through various consumer applications with different functions and styles. Below are a few well-known applications.

BlackBird

As a Web3 membership loyalty platform that completed $11 million in seed round financing in October 2022 and $24 million in Series A financing in October 2023, BlackBird has received strong support from well-known institutions such as Union Square Ventures, Shine Capital, Multicoin Capital, Variant, Circle Ventures, IAC, as well as a16z Crypto, Amex Ventures, and QED Investors. The founder Ben Leventhal's nearly 20 years of rich experience in the food and beverage industry, along with his founding of the food and local restaurant media Eater in 2005 and the well-known restaurant reservation site Resy, which was sold to American Express in 2019, are the main reasons. Nevertheless, Blackbird's choice to build a bridge between restaurants, hotels, and users, and its service methods like the FLY loyalty points program, have made it one of the few "consumer-friendly applications" in Web3 and the Base ecosystem.

Unlonely

This is an on-chain live streaming platform based on the Base ecosystem, which has previously received investments from institutions such as Multicoin Capital and Coinbase Ventures. The application innovatively creates a unique viewing experience for users by integrating gamified on-chain features into live streaming. For example, hosts can create temporary tokens, and the trading function can only be activated if the token reaches a certain price within a specified time. Previously, the application's founder Brian Guan successfully achieved a token sale with a trading volume of $160,000 and received $6,000 in creator incentives through this feature. Additionally, the application allows viewers to interact through betting, voting, private messaging, and using the platform's native tokens, adding a certain level of fun to the usage.

In February of this year, a live dating event called "Love On Leverage" on the platform caused a sensation. During the interaction between male and female guests, viewers could bet on whether they would go on a second date. If the supporting amount exceeded the preset threshold, they would go on a date. Conversely, if the opponents were in the majority, new participants would be introduced. Ultimately, the event attracted over 10,000 views and generated over $20,000 in token transactions, which can be seen as opening a new track for "Web3 consumer applications" based on Web2 entertainment live streaming.

Wrapshop

This is a shopping application similar to a "WeChat mini-program mall," built on the Farcaster ecosystem. Users can set up their own "Farcaster ecosystem mini-mall" in just a few simple steps to sell their physical or virtual products, including clothing, artworks, etc. This is also the work of independent developer Colin. Currently, the V1 version is open for free to some eligible users.

Wrapshop website interface

Payflow

This is a payment application product created by independent developer @0x Sinaver, allowing users to complete on-chain social payments across ecosystems like Farcaster, Lens, and ENS. As described in its account introduction, "It's like Venmo/Cash App for web3 social and linktree."

It is evident that although still in its infancy, consumer application products in the Base ecosystem have gradually begun to develop. With Jesse and more builders in the Base ecosystem having strong appeal and influence, coupled with Coinbase's ongoing support for consumer applications in the Base ecosystem, development in this area remains promising.

The recent collaboration between Adidas and Base may unfold in this aspect.

Meme Coin Applications

Finally, when mentioning the Base ecosystem, memes and meme coins are naturally an unavoidable part. Below are a few applications related to meme coins, which are not significantly related to speculative trading, so they are for reference only.

Bolide

A meme interactive product that previously received the 10th round of Base ecosystem Builder Grants. According to its official documentation, "The Bolide application is a smart self-custody Web3 application that leverages Web2 user experience to unleash the power of Web3, allowing users to hold, track, and trade their crypto assets while accessing all 'Bolide Earn' features. The Bolide application is designed to be simple, accessible even to those without DeFi experience, and built securely and reliably using the latest industry security standards. The goal is to build the next version of current new banking solutions for future market adoption while combining the latest technologies from decentralized markets with a simplified user experience, such as automatic returns on crypto assets (by combining top DeFi market lending protocols and DEX's own earning solutions), easy transfers between friends and 'saved' contacts, margin trading, retail payments, on/off ramps, and NFT trading."

It must be said that the goals are quite ambitious; whether they can be achieved remains to be seen with a conservative outlook.

GAME

The BASE ecosystem meme project GAME previously announced that it would launch the first Meme Game in the MemeFi track, providing a gamified social experience for meme holders. Players can engage in Meme PVP battles in the game and earn GAME tokens, with the first collaboration being with the RUNE ecosystem project DOG, where players can earn GAME airdrops by using DOG in the game. As a result, GAME's token price once surged by 40%.

Paragraph

An on-chain newsletter and publishing platform in the Base ecosystem, also the main platform tool for the Base official account to release messages. This platform allows creators to mint their works as NFTs, send newsletters directly to wallet addresses, or earn income through subscriptions. In addition, it has integrated with social protocols like Farcaster, Lens, and XMTP, enabling token-based channel creation and interactive channels similar to fan communities like "Knowledge Planet." Moreover, Paragraph has even "taken down" the former "track leader and competitor" Mirror and completed its acquisition. After receiving $5 million in investments from Union Square and Coinbase Ventures, Paragraph has, in a sense, become the "only content player" related to meme content.

Overall, after stripping away the rapidly declining and perishable speculative elements of meme coin trading, the development of meme coin-related projects in the Base ecosystem remains prosperous.

Conclusion: A Journey of a Thousand Miles Begins with a Single Step

According to Dune data, the number of users in the Base ecosystem is on the rise. As of June 13, 0:00, the total number of users reached 11,782,696, meaning that the number of users in the Base ecosystem has surpassed 11.78 million, equivalent to achieving one percent of the goal of "1 billion on-chain users," and now, less than a year remains until the launch of the Base mainnet.

It can be said that Base has created a "miracle" in the L2 network and even the cryptocurrency industry—being the L2 network to break through $5 billion in TVL the fastest; the L2 network with the fastest TVL growth rate; and ranking among the top L2 networks in terms of user numbers and daily active addresses, etc.

And this is just the first step in Base's journey of a thousand miles.