In addition to friend.tech, take stock of 10 Base ecological projects worthy of attention

Original | Odaily Planet Daily

Author | Qin Xiaofeng

With the help of Coinbase's network effect, the Base network, the L2 expansion solution, expanded rapidly in the bear market.

Since the launch of the mainnet on August 10, in just two weeks, the TVL of the Base mainnet has reached 240 million U.S. dollars, and currently ranks fifth in L2, second only to Arbitrum, OP Mainnet, zkSync Era, and dYdX. Tom Wan, an on-chain data analyst at 21co, wrote that in terms of the "L2 Ethereum Penetration Rate" indicator, the growth time of Base is much less than that of Arbitrum and Optimism - reaching a penetration rate of 0.25%, Arbitrum took 9 months, and Optimism took about 8 months. months, Base takes about 1 month.

Jesse Pollak, head of the Base protocol, said that more than 100 DApps and service providers have joined, further strengthening the Base ecosystem. Unlike other L2 protocols, Base officials have made it clear that they will not issue coins, so the expectation of the "airdrop" has been greatly reduced. If you want to get the early dividends of the new ecology, you can only place your hope on the ecological project itself.

In this issue, Odaily Planet Daily has selected ten key projects on the Base network for readers' reference. Screening criteria for projects: (1) Base network-native projects with high TVL, Uniswap, Compound and other old multi-chain deployment projects are not included in the statistics; (2) have received investment from Coinbase Venture, have great potential, and have already launched the Base network ; (3) Base is a well-known project with a hot network and a large number of users. As follows:

Project name: friend.tech

Official website:

Introduction: friend.tech is a decentralized social platform that allows users to buy and sell "shares" of other users in the network, which is essentially betting on the influence of big Vs; investors who buy "shares" of big Vs You will be granted direct access to that user's content and to message that user. Previously, friend.tech announced the completion of the seed round investment, and Paradigm participated in the investment.

According to Dune data, friend.tech’s current transaction volume exceeds 40,000 ETH, and the protocol revenue reaches 1,824 ETH (approximately US$3.03 million), ranking first in the Base ecosystem; Total Friend Value totals 12,692.7 ETH, approximately US$21.1 million.

It should be noted that friend.tech has not released tokens yet, but it will airdrop points to users every Friday. friend.tech will be distributing 100 million points during a six-month beta phase, each airdrop will take place on Friday, and the points will be recorded off-chain and will have a special purpose — possibly redeemable for tokens — after the beta phase ends.

Project name: BaseSwap

Official website:

Introduction: BaseSwap is a decentralized trading platform, and it claims to be built by the Base team—but it has not been confirmed. It adopts a dual token model: the platform token BSX and the revenue token BSWAP. The platform provides the following services: (1) transaction, quick exchange of tokens, the fee is 0.25%; (2) liquidity provision, become LP; (3) pledge service, support USDC, WETH and BSX pledge; (4) Farm, which supports LP pledge to obtain BSWAP tokens; (5) cross-chain bridge, supports cross-chain transfer of 8 networks including Base; (6) NFT market, trades Base network NFT.

According to DefiLlama data, BaseSwap's current TVL is 54.39 million US dollars, ranking first in the Base ecosystem.

Project name: SwapBased

Official website:

Introduction: SwapBased is a one-stop trading platform that has issued the platform currency BASE (not the official token of Base, do not confuse it), and currently provides the following services: (1) Token transaction, charge 0.3% fee; (2) Liquidity provision; (3) farm, support LP pledge to obtain BASE income; (4) cross-chain bridge, provide 32 chain transfers; (5) perpetual contract, support up to 30 times leverage, currently on the line ETH/USD Trading pairs, the transaction volume exceeds 1.7 million US dollars, and more than 120 users.

According to DefiLlama data, SwapBased currently has a TVL of 21 million US dollars, ranking second in the Base ecosystem.

Project Name: Alien Base

Official website:

Introduction: Alien Base is a decentralized trading platform based on the Base network, providing Swap, liquidity provision and pledge functions. Alien Base's liquidity mining program allows users to provide liquidity and pledge LP tokens (currently 10) to earn ALB tokens; pledge ALB tokens can also earn rewards and platform income, up to 50% of platform fees Will be owned by the DAO. According to DefiLlama data, Alien Base currently has a TVL of US$16.6 million, ranking third in the Base ecosystem.

Project name: Maverick Protocol

Official website:

Introduction: Maverick Protocol is a decentralized trading protocol that adopts the dynamic distribution AMM model. It can dynamically adjust the distribution of assets in the liquidity pool according to market demand. It is the only one in the market that can achieve optimal liquidity efficiency and optimal price. AMM model for discovery, optimal capital control and optimal cross-chain interoperability, while supporting high-speed, low-cost, and secure cross-chain transactions. Currently, Maverick Protocol supports Base, Ethereum, BNBChain and zkSync Era, and the TVL on the Base chain is $1.25 million.

In June of this year, Maverick completed $9 million in financing, led by Peter Thiel's fund, with participation from Pantera Capital, BinanceLabs, Coinbase Ventures, and ApolloCrypto.

Project name: WOOFi

Official website:

Introduction: WOOFi is an all-in-one decentralized application (DApp) built by WOO Network, which aims to optimize the user experience of DeFi by providing ultra-low slippage, competitive exchange fees, and other useful features. On August 15th, WOOFi announced the launch of the Base mainnet, which will provide traders with competitive quotations through the "compound active market-making" model, and provide seamless cross-chain exchange services. Users can now use WOOFi to cross-chain 6 chain assets to Base network. Additionally, WOO token stakers will receive 80% of transaction fees and the remaining 20% will be paid to brokers.

In terms of financing, WOO Network raised US$30 million in November 2021, with participation from BitTorrent, Avalanche, Crypto.comCapital, etc.; in February 2022, WOO Network completed a US$12 million round of financing led by Binane Labs.

Project name: DODOX

Official website:

Introduction: DODO X is the latest cross-chain aggregator launched by DODO, which aims to support users to exchange any two tokens between different networks at the best price. At present, DODO X has been successfully deployed on Base Mainnet. The specific transaction functions include: (1) Cross-chain swap, users can use the cross-chain token bridge to convert assets on one chain into different assets on another chain: (2) ) limit order, users can create a limit order to exchange desired tokens at a specific minimum price (i.e. limit price). Only when the market price reaches the limit price set by the user, the transaction will be executed; (3) The transaction widget enables users to build a customized front-end interface and embed it into the DeFi application to achieve fast asset exchange, etc. Multiple uses; (4) Trading API, allowing users to use intelligent routing algorithms to obtain efficient third-party token exchange routes, so as to find the best price on the chain.

Project name: Magnate Finance

Official website:

Introduction: Magnate Finance is a decentralized lending protocol based on the Base network. It adopts a dynamic interest rate model to create a more capital-efficient risk management pool and supports a variety of collaterals, including encrypted tokens, stable coins, synthetic assets, and NFT. , and other types of assets——Currently, four cryptocurrency loans, ETH, WETH, USDC, and DAI, have been launched.

According to the official website data, Magnate Finance TVL is currently 16.48 million, ranking first in the Base ecological lending agreement track. The project plans to expand to the Arbitrum ecosystem in the next step. The governance token of Magnate Finance is MGA, which is currently online with a market value of 1.5 million US dollars.

Project name: Moonwell

Official website:

Introduction: Moonwell is an open lending DeFi protocol based on Moonbeam and Base, similar to lending products such as Aave, MakerDAO, and Compound, allowing users to overcollateralize and lend cryptocurrency. After launching the Base mainnet, Moonwell TVL once rose to more than 20 million US dollars, and now it has fallen back to 15.2 million US dollars, ranking second in the Base ecological lending track.

The project co-founder Luke Youngblood is a former Coinbase senior staff engineer and AWS chief engineer. In April 2022, Moonwell completed a $10 million private placement financing with a valuation of $90 million, co-led by Hypersphere and ArringtonXRPcap, with participation from Coinbase Ventures and others.

In terms of tokens, Moonwell once issued the governance token WELL in May 2022. The public offering was fully unlocked in May this year, and the current market value in circulation is 5.05 million US dollars.

Project name: EDE Finance

Official website:

Introduction: El Dorado Exchange (EDE) is a decentralized spot and perpetual trading platform with dynamic pricing powered by PYTH oracles.

EDE draws on the GMX mechanism and currently uses two ELP pools including different assets to support transactions. Users can earn income by making markets, providing liquidity for Swap and leveraged transactions, and can also freely choose to mint different ELP tokens. Assets can also be redeemed by burning them. EDE also provides users with more convenient ELP transactions, users can directly use a single asset to buy or sell ELP. EDE is the utility token of the platform. EDE is pledged to obtain the governance token gEDE, as well as EUSD and EDE rewards. Users can stake EDE for 7 days to 4 years. The longer the stake, the more EUSD and EDE rewards you will get.

According to DefiLlama data, EDE currently has a TVL of less than US$1 million, ranking second among the Base ecological derivatives agreements.