.svg)
Base will become one of the fastest growing and biggest blockchains yet. Powered by Coinbase's impressive 100 million-strong user base, a staggering $200 billion in assets under management, and collaborations with industry-leading partners, Base is set for exponential growth and unrivaled credibility.
With the recent launch of 'Onchain Summer', showcasing a flurry of partnerships, campaigns, and the migration of premier DeFi and NFT projects to Base, the momentum is undeniable. Don't miss your chance to be a part of this and sign up for the Base Ecosystem Vault now!
We expect Base to become the biggest blockchain yet due to Coinbase's users, assets under management and partners. The assets in the Vault will be curated based on two lines of thought: First, we expect a lot of opportunities in the early growth phase. Coinbase has a huge influence, and we're already seeing many projects getting ready to migrate to Base.
Secondly, given Coinbase's financial services roots, we foresee DeFi as a cornerstone for Base. Therefore we're also seeking out projects that show serious promise of becoming legitimate DeFi players.
Ultimately the ecosystem will decide the direction and assets of the Vault, but rest assured that the best of Base will be included.
Base is a Layer 2 blockchain introduced by Coinbase. Its purpose is to further Coinbase's mission of creating an open financial system for the world by optimizing and enhancing the decentralized financial (DeFi) ecosystem, making it more accessible and efficient for users.
Vault are simply baskets of assets. Flagship has Vaults representing trends, industries, ecosystems and narratives. Vaults allow you to invest in the best of an entire sector, without having to spend hours managing wallets and picking projects.
The Flagship Intelligence Network scouts and finds the best projects to be included in the Vaults.
Projects that provide key solutions to enable a financial ecosystem on top of Base, such as exchange, trade, liquidity, lending and asset launches are the main driver of this Vault. The performance of these dapps can be monitored via blockchain explorers and data providers based on key metrics such as Total Value Locked, active wallets, fees generated and daily volumes.
We also aim to include projects backed by Coinbase and/or one of it’s institutional partners, as these have a high chance of attracting high value traffic. Coinbase’s strategy is to make DeFi easy and accessible for the masses, and dapps that are enabling this and are showing strong growth will be included.
Onboarding new people to the blockchain has been proven to be difficult as it still comes with a lot of complexity like wallets, private keys, bad UI/UX and complex terminology. Coinbase has a world-class track record when it comes to simplifying crypto and has already created a user-friendly wallet. At the heart of our thesis is that Coinbase will be able to onboard tens of millions of new users to the blockchain over the next years. We had a similar, but less advanced, situation when Binance launched it’s Binance Smart Chain in 2020, which turned out to be an incredible opportunity for early participants.
We prioritize projects with the following qualities:
- Strong Teams: The foundation of any successful project lies in the caliber of its team. This remains non-negotiable.
- Audited Contracts: With the complexity of blockchain projects, having an audited contract provides a layer of security and trust.
- Token Allocation: No more than 40% of tokens should be held by insiders. This ensures a fair distribution and reduces the chance of market manipulation.
- Valuation Metrics: We're not solely fixated on Total Value Locked (TVL). We seek a balance between TVL, market capitalization, and other pertinent metrics to determine the promise and performance of a project.
In essence, the strategy is to capture the best of Base's potential by merging short-term opportunities with enduring value. Through this methodology, we aim to offer our community a comprehensive and well-researched portfolio.
Currently, we are in a private Beta with our invite-only V1.0. In general, here is how the Vaults work:
A user goes to the app, selects the Vault they want to learn more about, and uses Metamask to invest their USDC in the Vault. As per our roadmap, this will become as simple as a bank transfer in the future.
The Vault then makes sure the underlying assets are bought, as per the specific ratios defined in the Smart Contract at that point in time. This happens fully on-chain in our Version 2.0. These transactions happen cross-chain, which means Vaults can contain cross-chain assets.To ensure secure active management of the assets, we incentivize a large group of professionals to watch the market and propose rebalancing operations. These are Captains (acting as proposers).
The rebalancing proposals are reviewed by a committee (reviewers), and then applied on a periodic basis through several required on-chain signatures. Both the proposers and reviewers are incentivized by $FYI, and through their stake also incentivized to act in the best interest of users.
Last but not least, in our V2.0 the Flagship DAO will construct a legally binding relation with the reviewers, to ensure all trades are applied with strict requirements based on the best methodologies currently available in the traditional financial market.
This Vault is classified as very high risk. Each asset included in this Vault belongs to an early-stage startup, which generally have high failure rates. While the thesis above is well-defined, there might be unforeseen constraints which could render various solutions unfeasible. Additionally, the crypto market as a whole is subject to technological, regulatory and extreme volatility risk.
Base is a Layer 2 blockchain network built on Ethereum' that provides a safe, low-cost, and developer-friendly way to build on-chain. Base is built on OP Stack together with Optimism, and it's being incubated inside of Coinbase.
Base has emerged as a promising layer 2 network for on-chain applications. Being incubated by coinbase and using the OP Stack, it has already caught the attention of users because of the the memecoin Bald.
