Overview of Base Network Ecological Projects and Investment Opportunities Analysis

In February this year, an Ethereum L2 network called Base, built on the OP Stack, was announced. Initially, the network did not attract much attention as the officials clearly stated that no tokens would be issued. However, the emergence of a meme token named BALD at the end of July broke this situation. BALD captured the attention of users across the network due to its astonishing rise in a short period and the wealth effect circulating within the community. Subsequently, the total asset volume of the Base chain skyrocketed from the previous million dollars to 80 million dollars. It is worth noting that during this period, the Base network had not yet received support from cross-chain bridges, and users could only transfer assets to the Base network through contract transfers.

Despite the subsequent issues faced by the BALD project, such as the withdrawal of its funding pool, which led to a significant drop in its token price, the funds it attracted and user attention have not completely dissipated. Data shows that the total asset volume on the Base network has currently reached $160 million, and the number of transactions has even surpassed that of the once-popular L2 network Starknet.

DeFi Projects

Base Swap

Base Swap is a DEX that emerged after Leet Swap encountered a price manipulation attack. It is built on Uniswap V2, has issued tokens, and launched mining and vault functions. Currently, the total locked amount of Base Swap is approximately $34.5 million. However, it is important to note that the project has not disclosed any audit-related information, and users should exercise caution when using it.

In addition, some well-known DEXs like Uniswap and Sushi have also announced support for the Base network.

GranaryFinance

GranaryFinance is a lending market similar to AAVE, currently supporting multiple chains including Ethereum and OP. On the Base network, its total locked amount is approximately $380,000.

NFT Projects

BakerySwap

BakerySwap launched the AI-based NFT series Punk X in August, with a total of 10,000 pieces. The project employs a tokenized approach to enhance the liquidity of NFTs. Being the first project with a clear identity on the Base network, its fundraising campaign was oversubscribed within half an hour, reaching 1600 ETH.

Manifold/mintfun

Manifold is an NFT minting platform that now supports the Base network, offering functionalities such as NFT minting, claiming, burning, and airdropping. Mintfun, on the other hand, is an NFT minting aggregation platform that also supports the Base network. Users can explore the latest NFT collections and their popularity information on these platforms.

Social Projects

friend.tech

friend.tech is an innovative fan economy product similar to bitclout. It converts personal influence into tradable shares and has recently gained popularity after launching on the Base network. The platform allows users to buy and sell other users' "account tokens," and holders can enter specific chat rooms to communicate with the account owners.

According to the data, the account share prices of some well-known users have reached quite high levels. A tax of 10% is charged on each transaction, with 5% going to the account owner and 5% to the project party.

Investment Opportunities and Risks

Whenever a new chain with a strong background is launched, its ecosystem often nurtures numerous investment opportunities. For developers and project parties, a new chain represents new opportunities and attention. Projects that enter early have the chance to establish a leading position in certain areas, thereby attracting more users and funds.

For users, early participation in new chains and projects often brings advantages in terms of timing and tokens due to higher expectations. As more projects build products on the Base chain, it is expected that more early investment opportunities will emerge.

However, it is important to note that the overall market is still in a competition model among existing users. When participating in investments, one must understand the importance of exiting at the right time. Additionally, it is essential to conduct thorough due diligence before participating in order to mitigate various risks, including the possibility of project runaways.