San Francisco, CA – The creator of Base, Jesse Pollak, is pioneering a novel approach to attract millions of users to his layer-2 network, drawing inspiration from memes. Since March, the network’s total value locked (TVL) has tripled, showcasing its rapid growth and potential impact on the cryptocurrency landscape.
Pollak emphasized the significance of memes during a memecoin hackathon in New York on April 20, highlighting their role in the on-chain economy. He expressed enthusiasm for the proliferation of “based memes” to facilitate the transition to blockchain technology for a wider audience.
The surge in memecoins and transactions on Base can be attributed to the Ethereum Dencun upgrade in mid-March, which significantly reduced fees on layer-2 networks. As a result, Base’s TVL skyrocketed by nearly 250% since the beginning of March, reaching an all-time high of $1.61 billion on April 21, according to DefiLlama.
Pollak noted that beyond speculation, memecoin creators on Base have introduced innovative strategies to onboard individuals into their communities. This approach has sparked a wave of creative onboarding experiments, fostering a diverse range of initiatives aimed at expanding their cultural influence.
Looking ahead, Pollak predicted that memes would play a pivotal role in attracting millions of new users to Base in the coming years. He highlighted the tireless efforts of meme creators in creatively onboarding individuals and expanding the network’s reach in innovative ways.
Furthermore, Pollak underscored the dynamic nature of Base, emphasizing the evolution of numerous teams and sub-cultures within the ecosystem. These entities are actively contributing to the growth and development of Base, injecting their unique culture and energy into the digital economy and capital markets.