AJ

Future is coming

[AX1 @ax1vc]

Why does @base need a token? For two years the honest answer was: it doesn't

The new answer is buried deep in securities liquidity - in whose shares stand behind "1:1 backed", and in who pays for depth once stocks start trading against TradFi books.

By the end of this post it has a job.

The replies under this post are litigating derivatives vs 1:1. Robinhood Chain tokens are also backed 1:1 - shares held at a US custodian. Accurate, but wrong axis. "1:1 backed" answers where the shares sit, never whose they are and the same label is currently being shipped as three different financial instruments.

A derivative. Robinhood's EU classic tokens. A contract against the broker, not even onchain.

A note. Robinhood Chain, xStocks, Ondo. The shares exist, and the terms inform you what you hold: "tokenized debt securities... do not grant investors any legal or beneficial rights in those underlying securities". A claim on a Jersey SPV.

A share. The one Coinbase announced in June. Equity behind the token, dividends, shareholder rights. The message was of ownership.

The note is the stablecoin economics applied to equities. You get the peg to the price. Whatever else the shares in custody provide stays within the wrapper. Dividends are "reinvested net of applicable withholding taxes," up to 30% incorporated into the multiplier, and your tax treaty cannot carry over into the SPV. Documentation from every issuer goes mute on securities lending of the custodied portfolio – the quiet fuel that powers zero-commission brokerage in TradFi. In case of insolvency an agent sells the shares and wires you the money. Payee, never the owner.

It's a $1.7bn market, and over half of it sits in assets that weren't even onchain a year ago. The standard of the wrapper is being set in advance of the critical mass.

The share model sends those benefits back to the holders. This is literally why it is the heavier lift regulation-wise, and why transfer agents are pressuring the SEC right now over who gets to call their product a stock.

So Base's version comes down to one clause in the future terms of the product. Namely, when shipped as a token, would the holder retain the ownership claim, or would it be squashed into another note due to composability? Base has already laid tracks for that answer. B20 went live on mainnet two weeks ago, a native ERC-20 superset with built-in transfer policies and issuer controls, with documentation naming tokenized equities as a target use case. It is that very toolkit which allows a share to stay a share onchain, i.e., compliance baked into the protocol rather than a Jersey wrapper. If the claim survives, it will be the first instrument of this type on any public EVM, thanks to B20. If it is squashed into another note, the comparison with Robinhood is gone too.

Now, the token part. The share version is the one institutions can hold, and institutional size is the entire point of the liquidity war. One of the founders in these replies chose Robinhood Chain over Base for his v2 precisely because Base lacks tokenized stock liquidity.

And that liquidity has to live onchain - if trading stays inside Coinbase's own book, there is no need for an ERC-20 at all, since the whole pitch is composability. An onchain book is up against TradFi, where hundreds of billions change hands on a daily basis, and it starts from zero. Zero gets filled in one way only - emissions. Every single major L2 got its DeFi liquidity by way of emissions, the only subsidy a public company may pay out without burning money on the income statement. Base is the only one running its emissions engine on a third-party token. And no one runs the monetary policy of their flagship market on a token they do not control.

Polymarket currently prices a $BASE token by December at around 12%, almost half of what it was just one week ago. These probabilities are listening to the silence of Coinbase. Read the product, not the odds - an ERC-20 share claim is the first thing on Base which requires an emissions engine of its own. This is how a token that is merely possible differs from a token with a purpose.

Jesse says a couple of weeks. Bookmark this for the release of the terms.

[based.slavic @basedsnipez]

open letter to @base (cc @jessepollak and @brian_armstrong)

dear base team, I’m writing this letter to you because I really want you to understand what’s currently going on on crypto Twitter with the base shit storm

I am boarded over 100 people to the Zora platform hundreds of people to the Base App on board hundreds of people to untrained trading on base. The total number is probably at around 1000 people if I collectively count altogether that I on boarded to the chain as a guy alone.

I’m at 15,000 followers on Twitter and I started my crypto journey on base with trading. I grew with base posting educating people how to trade on base and educating them on base alpha, providing them insight and information about good projects and builders.

And I did all of this while getting onboarded from a meme coin on base myself so basically getting on boarded from a meme coin on base what’s the reason that today I am one of the people that has onboarded hundreds of people and tons of people to the chain and now imagine the domino effect if 10% of the people I onboarded are going to do the same like me

what you guys need to understand is that the meme coin community and trading community is the biggest attention indicator possible for any chain or any platform

$TOSHI was the meme coin that brought me to the chain brought me to a community where I felt like I’m feeling comfortable and I started learning about onchain and started educating myself and then educating other others

what happened recently with Brian’s profile picture change while having a coin that got many people pivot to base then changing it back pretending not to know what’s happening right now is really not a cool thing. A lot of people align together and try to shift all the attention to the chain and for a moment, a lot of people were talking about base again.

I’m really tired of waking up every day and seeing my timeline getting flooded with base criticism and a lot of hate and maybe I haven’t talked the best about base lately but that’s because I’m feeling left behind and not understood by the people running the chain and by the people backing it

You guys need to understand that a lot of builders and traders feel like attention is not coming to them as well as support and we are the people that are advertising your chain bringing attention to it and help get people to know it better people that could make a big difference on the chain that could build products that change the game forever

I’m deeply disappointed, and for the first time in years, I feel like the chain has completely failed its users.

kind regards

slavic

[Brian Armstrong @brian_armstrong]

New profile photo - who dis

[Brian Armstrong @brian_armstrong]

Imagine being on the sidelines of this growth.

Billions of people don’t have to imagine - they have no access to invest in American companies. The S&P500 is up 75% in the last 5 years, and the majority of the world just had to watch from the sidelines.

Tokenized stocks are changing this, and finally making financial access more open. Just a phone and an internet connection can let you own a piece of the world’s best companies.

[Brian Armstrong @brian_armstrong]

A good start

[MICHELLE. @Chefdoo195]

💣🚨BREAKING:Yamal Tears Up While Talking About His Match Against Messi.

Yamal couldn’t hold back tears when asked about his childhood photo with Messi.

🎙️Interviewer: Lamine, tomorrow you could line up against Lionel Messi in a World Cup final. That baby photo with him from the UNICEF shoot 18–19 years ago has been everywhere again. What does this moment mean to you?

🗣️Lamine YamaI… I don’t even know where to start without crying, man. Since I was a little kid, Messi was everything. Not just the best player he was the dream. My family didn’t have much, but we had a ball and his games on TV. I’d watch him and think, “One day…”
And now? Tomorrow I might have to try and stop the same man who held me as a baby. Who smiled at me in that little blue tub while my mom watched. That photo… it’s not just a picture. It’s proof that life is crazy beautiful and painful at the same time.

🗣️Messi gave me my first real moment in front of the world, even before I could walk. He didn’t have to do that photoshoot. He was already a star, shy and quiet, but he showed up for UNICEF, for kids like me. That day he helped bathe me, played with the little rubber duck the photographer brought… that was the beginning. My dad always says “the start of two legends,” but for me it was the start of believing it was possible.

🗣️Leo… if you’re watching this, thank you. Thank you for inspiring every touch I take, every dribble, every dream I chased through the streets of La Masia. You showed me it doesn’t matter where you come from a kid from Rocafonda can make it. You carried that hope for all of us. And now I have to face you… it breaks my heart. I love you, man. You’re my idol. You always will be.

🗣️This match… it’s not just Spain vs Argentina. It’s me vs the boy I wanted to become. I’ll give everything tomorrow. I have to. But part of me wishes I could just hug you like that baby photo again and say thank you. Thank you for holding me when I was small… and for lifting all of us when we needed it most.

🗣���Whatever happens, I’m grateful. This moment only exists because of you, Leo. From that bathtub to the World Cup final… thank you. I’ll never forget it.
#FIFAWorldCupFinal2026

[Base Build @buildonbase]

Most tokens are smart contracts deployed on top of a chain.

B20 tokens are native to Base - built directly into the protocol.

The B20 Native Token Standard explained 🧵

[AJ @AJurgin]

@AquaFunded 4-2

[AJ @AJurgin]

@DurovPD Portugal 4-2 Spain

[AJ @AJurgin]

@MrBeast 2636721

[AJ @AJurgin]

@owb_studio @base When Agentic Mode starts?

[Brian Armstrong @brian_armstrong]

The US Constitution was the most important political innovation ever, but it's missing two important things:

1) A cap on the growth of government spending
2) A requirement for hard-backed currency

Without them, every democracy drifts toward more debt and eventual loss of reserve currency status (see The Changing World Order). The US is $39T in debt, and adding $1T roughly every 100 days, with interest payments now exceeding the defense budget. There is no mechanism to stop it.

Politicians get elected by promising free stuff using other people's money. Some voters get a benefit today, while the negative impact of the spending goes to future generations who can't vote yet. The incentive structure is broken.

What fixes it? A new constitution somewhere on the frontier (Mars, special economic zones, cyberspace), an amendment that aligns incentives in the current system (politically challenging), or hyper economic growth (AI + robotics + crypto) to outpace inflation.

[Brian Armstrong @brian_armstrong]

👀

[Fabrizio Romano @FabrizioRomano]

🚨🇵🇹 Cristiano: “I know that whoever works hard, God helps him. It was a tough week, a dark one, it started as if I had retired from football”.

But I held on as I always hold on because I believe in work more than football. It was tough, I have to admit, but we came back”.

[FIFA World Cup @FIFAWorldCup]

Cristiano Ronaldo: The first man to score at six #FIFAWorldCup tournaments

[Cristiano Ronaldo @Cristiano]

ESTAMOS AQUI!

[AJ @AJurgin]

Funny how asking uncomfortable questions about $OWB can get you blocked.

A strong community welcomes transparency. A weak one silences it.

Investors deserve answers, not censorship.

@clashofcoins @owb_studio #OWB #Crypto #Web3

[Alex 🧩 Scaling Video GenAI @alexmashrabov]

We scaled Higgsfield to a $400M run rate and 24M+ users in just 13 months after launch.

That makes us the fastest-growing video AI startups in the world.

But I’ve never shared how it started. Here’s the story:

[AJ @AJurgin]

@clashofcoins @base What happened to OWB token??? @clashofcoins @owb_studio Looks like exit scam…

[Clash of Coins @clashofcoins]

Midseason quest incoming

June 25th: 30,000 FCFS boxes go live, each containing 200 to 10,000 $OWB

The most active wallets on @base get auto-upgraded to one of 5,000 Epic boxes with higher odds at the top reward.