One sentence summary – Coinbase’s layer-2 solution, Base, has reached 1 million addresses in just 11 days, making it the fastest layer-2 network to achieve this milestone, with its success attributed to attracting renowned brands and generating substantial profits through crypto endeavors.
At a glance
- Coinbase’s layer-2 solution, Base, has reached 1 million addresses in just 11 days.
- Base is the fastest layer-2 network to achieve this milestone.
- Base has attracted renowned brands like Coca-Cola, Showtime, and Atari.
- The network has seen significant activity related to crypto endeavors, including meme coins and Twitter knockoffs.
- Base has generated a cumulative revenue of $4.9 million, with a profit margin exceeding 60%.
Coinbase’s “onchain summer” campaign has led to a significant milestone for their layer-2 solution, Base.
In a span of just 11 days, Base has reached 1 million addresses.
This makes it the fastest layer-2 network to achieve this feat.
Renowned Brands Choose Base
Other layer-2 networks such as Arbitrum and Optimism took longer to reach the same milestone.
A key factor in Base’s success is its ability to attract renowned brands.
Brands like Coca-Cola, Showtime, and Atari have chosen to launch on this network.
However, a significant portion of the network’s activity is related to crypto endeavors.
These include meme coins and Twitter knockoffs.
Several tokens on the Base network have garnered significant attention.
These include BALD, COIN, and BASED.
BASED, in particular, experienced a market capitalization of $291 million within just one day of its launch.
This showcases the network’s potential for rapid growth.
Since its launch, Base has generated a cumulative revenue of $4.9 million.
This is after deducting fees associated with pushing activity to the Ethereum mainnet.
The revenue demonstrates the network’s ability to generate substantial profits.
The profit margin exceeds 60%, surpassing that of other layer-2 rollups.
Promising Potential for Further Success
Coinbase’s on-chain experiment with Base has shown promising potential for further success.
The network’s continued user attraction, revenue generation, and achievement building position it for ongoing growth and development.
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|– Coinbase’s “onchain summer” campaign has been a successful marketing strategy for the firm’s layer-2 solution, Base.
– Base reached 1 million addresses in just 11 days, making it the fastest layer-2 network to do so.
– Other layer-2 networks like Arbitrum and Optimism took much longer to reach the million-address milestone.
– Base has attracted big brands like Coca-Cola, Showtime, and Atari to launch on the network.
|– However, most of the network’s activity revolves around crypto activities like meme coins and Twitter knockoffs.
– Tokens like BALD, COIN, and BASED gained significant attention on the network.
– BASED had a market capitalization of $291 million within a day of its launch.
– Base has generated $4.9 million in cumulative revenue since its launch, even after removing fees for pushing activity to the Ethereum mainnet.
|– Base’s profit margin stands strong above 60%, which is higher than other layer-2 rollups.
|– Coinbase’s on-chain experiment with Base has the potential for further success as long as the network continues to attract users and generate revenue.