Jesse Pollak, the creator of Base, believes that leveraging memes will play a crucial role in attracting millions of users to his Coinbase-affiliated layer-2 network, which has seen a significant increase in total value locked since March.
During a memecoin hackathon in New York on April 20, Pollak emphasized the importance of memes in the on-chain economy, expressing excitement about the proliferation of memes to drive adoption.
Pollak noted the remarkable energy surrounding Base, attributing memes to the onboarding of thousands of users into the network’s new economy.
Following the Ethereum London upgrade in mid-March, which lowered fees on layer-2 networks, Base experienced a surge in memecoin growth and transactions, leading to a nearly 250% increase in total value locked by April 21.
Apart from speculation, creators on Base have devised various strategies to onboard individuals to their communities, fostering a plethora of experiments to expand their culture’s reach.
Pollak expressed confidence that memes will continue to drive user adoption in the coming years, serving as a primary catalyst for growth by creatively engaging and onboarding millions of individuals to Base.
Base hosts a variety of memecoins, with BRETT emerging as the most popular, boasting a market cap of $567 million and a substantial price surge since March. Other notable memecoins on the Coinbase blockchain include DEGEN and TOSHI.
Blockchains like Solana and Base have become attractive to memecoin enthusiasts due to their high throughput and low fees, drawing significant interest in recent months.
Despite the popularity of memecoins on Base, investigations have revealed a concerning trend, with a notable percentage of new memecoins being identified as scams, highlighting the importance of vigilance within the community.
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