The Worlds Gone $BALD 🧑🏻‍🦲

48 Hours On Base

The RR audience has been on some exciting rollercoasters in this market but one of the most market-typical storylines had an interesting twist. Base, an L2 launched by Coinbase, yet to even launch, was home to one of the most notorious memecoins in the past year.

$BALD was a meme launched by an unheard “dev” on the Coinbase L2 & due to its play on CEO Brian Armstrong’s evidently Bald head it sent shockwaves around the crypto world. In less than 24 hours degens were turning $500 into millions & very quickly others began following resulting in a spiraling surge of the price.

With cheap fees on Base, people felt the opportunity was one too good to turn down especially with the market maturing and expecting rugpulls in memes. However, when the inevitable happened, it seemed there was more than meets the eye.

Strap your eyes for the drama later on but for now, let’s look at the backstory & Base as a whole.

Base: Brian Armstrongs KYC L2?

Who knew an L2 that, at the time, hadn’t even gone live yet? In essence, Base remains in its incubation phase within Coinbase, the prospect of being an early adopter presents a compelling opportunity for forward-thinking developers or in this case, memecoin degens.

Early benefactors stand to gain the most from this endeavor, as they can leverage the platform's early-stage growth to establish a foothold in the rapidly expanding ecosystem of decentralized applications.

The potential benefits of being at the forefront of Base's development are vast, ranging from increased exposure to Coinbase's vast user base to the advantage of becoming key contributors to the project's evolution.

Away from the meme aspect that really you could argue that coinbase had no control over, there is some value being built.

In the ever-evolving world of blockchain technology, Base emerges as an innovative solution, offering developers a secure, cost-effective, and user-friendly platform for building on-chain applications. Developed in collaboration with Optimism, Base operates as an Ethereum Layer 2 chain, boasting a host of impressive features designed to empower developers and foster the growth of decentralized applications.

Built with Unwavering Security and Scalability

At the core of Base's architecture lies a robust security framework derived from Ethereum, combined with Coinbase's extensive experience in crafting top-notch crypto products. The result is a platform that instills confidence in developers as they onboard onto Base from Coinbase, Ethereum L1, and other interoperable chains. Security and scalability are paramount in the blockchain world, and Base ensures both aspects are diligently addressed, providing a solid foundation for building powerful decentralized apps.

Leveraging Coinbase's Arsenal of Tools

Base doesn't merely stop at security; it takes it a step further by integrating seamlessly with Coinbase's suite of products, users, and tools. This integration enables developers to tap into a vast pool of opportunities, including effortless integration with Coinbase products, streamlined fiat onramps, and access to potent acquisition tools. With over 110 million verified users and assets exceeding $80 billion within the Coinbase ecosystem, Base provides an unprecedented gateway for developers to reach a vast and engaged audience.

Cost-Effective Development with Full EVM Compatibility

Developers exploring Base will find that they can embrace full Ethereum Virtual Machine (EVM) compatibility without incurring exorbitant costs. Base remains committed to advancing the developer platform, offering easy-to-use APIs for account abstraction and facilitating gasless transactions for decentralized apps (dapps). Furthermore, the platform allows developers to construct multichain applications with simplicity, thanks to user-friendly bridges.

An Open-Source Paradigm for Decentralization

Base sets its sights on true decentralization, aiming to be open and accessible to all visionary creators who envision a standard, modular, and rollup-agnostic Superchain, powered by Optimism. Joining forces with Optimism as a Core Developer on the open-source OP Stack, Base endeavors to establish a thriving community of developers. The project's commitment to openness and permissionless access invites collaboration and creativity, fostering an environment where innovation knows no bounds.

Set to go live August 9th, many are anticipating Base to be the start of what they call an “Onchain Summer”.