This is the beginning of a new era.

Written by: Deep Tide TechFlow

Just last night, Base held a "A new day one" event, where it officially announced the renaming of Coinbase Wallet to Base App. This is not just a simple brand refresh, but a transformation from a single cryptocurrency asset storage wallet app into a Web3 super aggregation application that encompasses assets, payments, and social interactions.

The news immediately sparked heated discussions in the market, and various assets on the Base chain experienced varying degrees of price increases.

This may also signify that everyone believes this transformation brings not just a better app, but the beginning of a whole new chapter.

A new chapter often means the emergence of many early opportunities and profound changes in the existing market landscape.

From Wallet to Aggregation Application: What Updates Has Base App Made?

This update marks a comprehensive evolution in Base's functionality and positioning: it leaps from a single cryptocurrency asset management tool to a Web3 super application that integrates asset management, instant payments, social interactions, and a developer ecosystem, opening up a new realm of imagination for users and investors. The core updates are as follows:

Base Pay: Instant USDC Payments

The Base App update introduces Base Pay, allowing users to make almost real-time low-cost payments using USDC. Base has already partnered with e-commerce giant Shopify, and in the future, it will support USDC payment services for millions of merchants worldwide. Additionally, users only need to hold USDC to enjoy an APY (annual percentage yield) of up to 4.1%.

It is also expected to launch a 1% cash back reward program for consumer payments aimed at U.S. users by the end of this year. This feature significantly simplifies the on-chain payment process for users, and combined with the rapidly developing stablecoin industry this year, it will greatly enhance the user experience for instant payments.

Flashblocks: Faster and Better Blockchain

The Base chain introduces Flashblocks technology, reducing block time to 200 milliseconds and significantly improving transaction processing speed. This change will benefit users engaging in high-frequency trading, on-chain gaming, and real-time applications within the Base App, providing a more efficient on-chain experience for users and developers.

Base Build: Empowering the Developer Ecosystem

Through the Base Build program, Coinbase provides SDKs, APIs, and funding support, aiming to attract one million developers to join the Base chain ecosystem. The "Sign in with Base" feature simplifies the dApp development process, helping developers quickly build applications and laying a solid foundation for the future prosperity of the Base ecosystem.

Social: Creating a New Ecosystem for On-Chain Interaction

Unlike traditional cryptocurrency wallet applications, the Base App has introduced innovative social features by integrating the Farcaster protocol to access decentralized social platforms. Users can post and share content within the Base App and view on-chain activities in real-time, such as purchasing NFTs or token transfers.

Additionally, the Base App supports Farcaster's Mini Apps, allowing users to run lightweight Web3 applications directly, such as games or DeFi tools. Users can also create personal homepages to showcase their on-chain activities and interact with the community through built-in chat tools. This deep integration of social and on-chain operations will significantly enhance the user experience, making the Base App more than just a wallet, but a portal for on-chain social interactions.

These updates make the Base App no longer just a tool for trading cryptocurrency assets, but more like a comprehensive entry point into the Web3 world.

Opportunities Under Major Innovations

The comprehensive upgrade of the Base App, from instant USDC payments to the integration of Farcaster social features, and the technological empowerment of Flashblocks and Base Build, not only reshapes the user experience but also unlocks unprecedented opportunities. Below, we focus on potential opportunity points that are directly relevant to users and investors.

Investor Opportunities: Capturing Base's Growth Dividends

The transformation of the Base App opens up multidimensional opportunities for investors, including DeFi tokens, meme coins, and stablecoin-related assets. Here are specific investment targets and investment logic. Please note that the following analysis represents personal opinions and does not constitute any investment advice. Cryptocurrency investment carries risks; please proceed with caution.

Cryptocurrency Targets

$AERO (Aerodrome Finance): As the leading DEX (decentralized exchange) on the Base chain, it currently holds nearly 14.6% of the Base chain's TVL. With the official launch of the Base App's social features and the support of Flashblocks for higher trading frequency, it is highly likely to attract more users to conduct on-chain trading within the Base App, increasing Aerodrome's trading volume and fee income.

$UNI (Uniswap): Uniswap has been deployed on the Base chain, benefiting from Flashblocks' low latency and high throughput. The Base App's Base Pay and social features will attract more retail users to participate in DeFi trading, increasing Uniswap's trading volume. The Mini Apps supported by Farcaster will enhance user stickiness by providing on-chain interfaces (such as trading bots) for Uniswap. As a governance token, UNI is expected to benefit from the value increase brought about by the expansion of the Base chain ecosystem.

$BRETT: BRETT is the most representative meme coin on the Base chain, similar to Solana's BONK. The Base App's Farcaster social features (personal homepages, on-chain dynamics) amplify BRETT's exposure through community discussions and Casts. Mini Apps support lightweight games or NFT trading related to meme coins, further driving speculative enthusiasm.

U.S. Stock Targets

$COIN (Coinbase Global): As the parent company of the Base chain and Base App, Coinbase directly benefits from ecosystem growth. The user growth of the Base App (currently in the testing phase with hundreds of thousands on the waiting list) and the integration of Base Pay with Shopify will increase Coinbase's trading and custody revenue. Additionally, the integration of Farcaster's social features will attract a large number of new users to use the Base App, further boosting Coinbase's active addresses. COIN's stock price has risen over 50% since the beginning of the year, and the launch of the Base App may drive it further up.

$CRCL (Circle): As the issuer of the stablecoin USDC, Circle will significantly benefit from the promotion of Base Pay. Base Pay has confirmed its partnership with Shopify, and using Base Pay for shopping at Shopify will earn a 1% rebate. Additionally, holding USDC within the Base App will yield an APY of 4.1%, stimulating demand for USDC, making CRCL a direct investment target for stablecoin growth.

Developer Opportunities: Cultivating Ecosystem Prosperity

The Base Build program aims to attract one million developers to join the Base ecosystem by providing SDKs, APIs, and funding support, creating a prosperous Web3 application ecosystem. The "Sign in with Base" feature simplifies the dApp development process, similar to single sign-on in traditional internet applications, allowing developers to quickly build user-friendly applications without complex front-end integration.

Farcaster's Mini Apps provide developers with a lightweight development framework, supporting the creation of social, gaming, and DeFi applications, such as on-chain NFT markets, decentralized social tools, and trading bots, significantly lowering the development threshold for developers.

At the same time, Flashblocks' 200-millisecond block time supports high-frequency trading records, making it suitable for developing applications with high real-time requirements, such as on-chain games or high-frequency DeFi protocols. Here are some application tracks that are more suitable for developers to choose:

Social dApp

Utilizing Farcaster's Mini Apps to develop decentralized social platforms or social-driven applications, similar to the on-chain social experience of Lens Protocol.

DeFi and On-Chain Gaming

Based on Flashblocks' high throughput and MagicSpend's low cost, the possibility of developing efficient DeFi protocols or on-chain games will significantly increase, such as liquidity mining or real-time competitive games.

Ecosystem Integration

Combining Base Pay's USDC payment functionality, develop e-commerce or payment-related dApps to meet the on-chain transaction needs of platforms like Shopify.

The Impact of Base App's Transformation on the Web3 Landscape

The transformation of the Base App marks a leap from a single cryptocurrency asset wallet to a Web3 super application, seemingly heralding the "iPhone moment" for the Web3 world. Next, we will explore in detail the impact of this transformation on the Web3 landscape.

Accelerated Integration of the DeFi Ecosystem

The Base App, based on Flashblocks technology, will significantly enhance the transaction speed of the Base chain, far surpassing the ETH mainnet and Optimism. This provides a low-latency, high-throughput environment for DeFi protocols, driving the TVL of the Base chain to continue climbing. The Base Build program will further attract developers to enrich its dApp ecosystem, similar to how Solana achieved a doubling of its TVL in 2021 through developer incentives. As an aggregator of traffic, the Base App is likely to challenge the market shares of Arbitrum and Optimism, becoming a leader in Layer 2.

The Rise of Decentralized Social

The integration of Farcaster may make the Base App a new hub for Web3 social interactions. Leveraging the rich Mini Apps and on-chain dynamic features provided by Farcaster, it is expected to inject significant traffic into the creator economy, such as NFT trading and the establishment and governance of DAO communities. At the same time, decentralized social identities will amplify the community effects of meme-type assets within the Base ecosystem, allowing users to engage more directly with various meme cultures and projects.

Widespread Adoption of Stablecoin Payments

The integration of USDC payments through Base Pay with Shopify covers millions of merchants worldwide, combined with an APY of 4.1%, stimulating the adoption of stablecoins in e-commerce and on-chain applications. The combination of payments and social features in the Base App, similar to the model of Alipay, may accelerate the globalization of Web3 payment infrastructure.

Conclusion: This is the Beginning of a New Era

In the past, users had to switch between wallet, information, social, and exchange applications; in the future, perhaps a single Base App can encompass all of these. What it addresses is not merely the issue of convenience, but rather the revival of countless ideas constrained by technological and ecological bottlenecks. All of this indicates that the Base App is about to usher in a brand new era for Web3.

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