. @0xfeathers - Twitter Profile

over 1 year ago

My BASE Case for where the puck is going next Since Trump's win on 11/5, COIN and BTC have led the way forward (+70% and +16%, respectively). My bias remains in ETH and adjacent to a thread I wrote back in October around memecoins (following tweet), I believe that multiple points of strength are aligning for the BASE L2 ecosystem to: - "win" the battle against competing L2s and even ETH MN itself as the de facto ecosystem of choice to house memes, consumers dApps and attention - compete as the premier EVM-aligned ecosystem in parallel to SOL's "all-in-one" robust casino ----------------- My core belief is simple; ETH is still an integral center of the digital asset ecosystem, with all & any spin-offs to-date reliant on two key principles to drive positive network effects: a) the "underlying" coin must see relative strength to its competitors, and b) the "underlying" coin must have "scarcity" (more on this later) Therefore - in this race for attention - in most cases you are mostly betting on one coin (even if just a simplifying measure) to visualize strength. In the following weeks (and this has already started), you will see an argument made from the CT populace on why a given individual coin MAY win (SOL killer, meme) or why an app supported by a coin MAY win (utility-token, DEFI governance, etc). I am here to present an argument for why a strong risk-adjusted option from today is to bet on the ecosystem WITHOUT a coin. ------------------ In my view, the way BASE has organized itself creates the strongest potential for sustained adoption, with the double-edged sword being that it is likely reliant on an ETH resurgence. However, given that I believe ETH is currently under-utilized - if/when relative value between BTC <> ETH <> SOL lifts over the coming weeks, there must & will be a sink to house this newly created & recycled wealth. BASE should win this as: 1) The interconnection of "faucets" on BASE has greatly evolved this year - and is underappreciated, 2) BASE is of key strategic value to COIN, with an actual balance sheet to create support, 3) BASE has been battle-tested this year - and the response has been sterling I have positioned myself accordingly and will discuss in the following thread what my rationale is, and the risks/mitigants involved in re-directing on-chain flows toward what I believe is the most vibrant playground: BASE.