Parsec Weekly #133
All about that base
All about that base
Just recently at “BaseCamp”, Aneri Amin (the Head of Product @ Base) tweeted this:
While this is not a formal announcement, Coinbase is hardly the kind of company to leak a rumour which hasn’t already been approved by legal. Having seen this, I believe a Base token is now a matter of when not if. This puts base in a growing category of teams who have been building for a long time but which the market was not certain would launch a token. In this respect, I’m putting Base in the basket with Polymarket and OpenSea here.
The small “Base basket” I track (consisting of the Aerodrome, Virtual and Brett tokens), has not maintained outperformance vs ETH on a significant basis since the announcement:
So if we assume the opportunity is not in existing Base coins, what can one do from an actionable perspective to expose oneself to a future Base network token? If we assume that some portion of the Base token might be distributed in the form of an airdrop, deploying funds into Base DeFi and organically using the chain might make a lot of sense.
One project I have been playing around with is Limitless, a Base native prediction market which is currently running a Season 1 of their points program.
With Polymarket secondary transactions rumoured to be transacting at a $10bn valuation, there’s a chance that up and coming prediction markets are ascribed some value in which case Limitless might offer a nice opportunity to play with something new on Base while becoming eligible for both a Limitless and Base airdrop simultaneously.
We’ll be keeping our eyes peeled for further information from the Base team regarding timelines, token utility and any potential airdrop information too - it’s time to lock in!