🤝 Welcome Base to Flooz
We're excited to be bringing a seamless DeFi experience to Base network. You can now trade any token across the Base chain, and join a thriving ecosystem with faster transactions and cheaper network fees.
Let's deep dive into our latest cross chain swap feature network, Base.
❓ What is Base?
Base is a layer-two chain developed by Coinbase which operates on Optimism, the second-largest Layer 2 (L2) ecosystem and a leading Ethereum scaling solution. Designed as an Ethereum Layer 2, Base prioritizes security, stability, and scalability, catering to the needs of on-chain applications.
Deploying any Ethereum Virtual Machine (EVM) codebase on Base is a seamless process, allowing users and assets to transition effortlessly from Ethereum Layer 1, Coinbase, and other interoperable chains. This interoperability ensures a smooth onboarding experience for users and efficient asset management. As a layer 2 rollup on Ethereum Layer 1 infrastructure, Base optimizes transaction processing. By bundling transactions together and submitting them for settlement on the Ethereum chain, Base achieves faster and more cost-effective transactions compared to Ethereum Layer 1. How does it work? To facilitate transaction bundling, Base employs a sequencer, a trusted entity currently operated by Coinbase. The sequencer plays a crucial role in ensuring the accurate execution of transactions.
However, Coinbase has plans to decentralize this role in the future, aligning with industry discussions on the decentralization of sequencers across various Layer 2 platforms. The evolving landscape emphasizes the commitment to decentralization, marking a significant step towards a more distributed and secure Layer 2 ecosystem.
As with other Layer 2's that are looking to help scale and improve the Ethereum ecosystem, many of them also have their own goals too, and Base is certainly showing this and it's only a positive for the entire crypto and Web3 world.
If you want to check out the other cross-chain networks that we have just added to our platform, you can check them out here 👈
📊 Take a look at the stats
Now for the statistics that everyone loves... Let's take a look. As Base is backed by Coinbase, they have a distinct advantage due to having one of the biggest centralized exchanges in the world. In fact, they have $130B assets on platform, which is fantastic for the Base network. Next, and it's a bold claim from Coinbase, but they state that Base’s rollup architecture reduces costs by 10x for users. Which considering fees alone, this is an incredible achievement and shows the potential with ecosystems such as Base.
Base minted over 700k NFTs (Non-Fungible Tokens) during their 'Onchain Summer' promotion last year, which is a massive number. Which also saw over 260k unique wallets too. This shows the potential of these developing ecosystems, but even more so, the demand and support for already building projects such as Coinbase, who ventured into the Layer 2 scene which eld to even more such as NFTs.
🚀 Top 10 Base projects to trade
With the Base network now available on our platform for cross chain swaps, here are the top 10 projects using their blockchain: Let’s jump in 👇
Axelar ($AXL) - Axelar is a programmable blockchain interoperability layer that spans all of Web3.
Echelon Prime ($PRIME) - Echelon is a platform that enables games to leverage blockchain features.
Yearn Finance ($YFI) - Yearn Finance is a suite of products in Decentralized Finance (DeFi) that provides lending aggregation, yield generation, and insurance on the Ethereum blockchain.
Balancer ($BAL) - BAL is the governance token for the Balancer Protocol. It can be used to vote on proposals and steer the direction of the protocol.
Reserve Rights ($RSR) - RSR is the governance token for the Reserve Project.
SmarDex ($SDEX) - SmarDex is the true next-generation DeFi platform providing reliable ROIs and delivering real value through its unmatched innovations.
Artificial Liquid Intelligence ($ALI) - The ALI Utility Token is the native ERC-20 utility token of the AI Protocol , serving to govern, regulate, and enable transactions between the participants of the AI Protocol.
Magic Internet Money ($MIM) - Magic Internet Money(MIM) is a pegged stablecoin backed by yield-bearing crypto assets.
Toshi ($TOSHI) - A BASE native project committed to bringing users onchain.
Aerodrome Finance ($AERO) - Aerodrome Finance is a next-generation AMM designed to serve as Base's central liquidity hub, combining a powerful liquidity incentive engine, vote-lock governance model, and friendly user experience.
👀 What's been happening with Base?
Here comes the news! Let's see the latest...
It seems some partnerships are on the way for Base with "Project Diamond" which lets institutions create and trade digital native versions of financial instruments such as debt using Base in a regulated manner. Certainly an interesting concept. And to end on a interesting note, Base has partnered with blockchain music platform Sound.xyz to allow artists to mint music on-chain, using its own song as the inaugural track. Mixing Web3 and music is most definitely a smart move and exciting move, with music being one of the biggest mainstream social industries in the world. And hey... who doesn't like music? It seems that Base is making some moves in the Web3 world and we could see some further developments throughout the year, in what is an exciting and fast growing blockchain.
Don't forget, if you want to find out more about our latest swap features and available networks, you can check it out here 👈