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On April 8th, the price of AERO broke through $1.9, and the Total Value Locked (TVL) of the Base ecosystem also exceeded $4 billion. On April 6th, the daily trading volume of Base reached 2.4436 million, setting a historical record. Since March 14th, the daily transaction volume of the Base network has remained above 1.1 million transactions. Concurrently, the Daily Active Users (DAU) of the social protocol Farcaster also reached a second wave of peaks recently, surpassing historical highs.
The first wave of user growth for Farcaster occurred in early February 2024 when the largest frontend protocol of Farcaster, Warpcast, introduced the new feature Frame, which added a lot of interactivity to social applications. At the same time, meme coins related to Farcaster concepts such as DEGEN, FAR, and FRAME attracted a batch of users who were not yet Farcaster users to register accounts. However, as the market cooled down, the hype around Farcaster gradually faded. But in early March, after the Cancun upgrade was implemented, the activity in the Base ecosystem surged, injecting a second wave of vitality into Base and Farcaster, led by meme coins like DEGEN.
In recent days, Warpcast has updated its in-app features again, introducing the Actions feature, which can be used to add features that are not part of the core Farcaster protocol. The founder of Warpcast likened it to "Chrome extensions for social apps."
The entrance to the Actions feature is located near the favorite and share bar at the bottom of each post. It includes small features that further promote the tipping culture, where users are not limited to tipping with DEGEN alone. Additionally, users can use features such as verifying FID and gifting Warps, enhancing the user experience of Warpcast.
In addition to seeing positive changes within the app, one cannot ignore the impact of activities on the Base and Zora chains that Farcaster relies on. Thanks to the interactive features of Frame and the long-term cultivation of creator culture, Farcaster has become the "launching platform" for Base and Zora, nurturing and giving birth to many popular projects.
One of the criteria for judging the reliability of Base ecosystem projects is how they operate their Warpcast accounts. Farcaster and Base, Zora mutually benefit each other, injecting vitality into each other and forming a closed loop. What's more worth noting is that this time, Warpcast's user emergence is not just a one-time event like in early February, followed by silence, but it continues to be active within the app, resulting in the current stable growth of DAU.
The most popular channel on Warpcast still belongs to Degen, and its meme coin DEGEN has also shed its "altcoin" label to become a hot speculative target in the current Base ecosystem.
On March 28th, Degen announced the launch of the low-cost Layer 3 blockchain, Degen Chain, which further pushed the price of DEGEN to historical highs, sparking a wave of speculation on Degen Chain.
Last week, there was much discussion in the market about Layer 3, with mixed reviews, but undoubtedly, Degen is the pioneer and the most popular. Due to almost negligible gas fees and the gradual increase in the deployment of lightweight applications, the launch of Degen L3 was hailed as the "iPhone moment" in the cryptocurrency market by Lan Lee, the developer of Degen China, in an interview, saying it would greatly enrich the on-chain ecosystem.
Originating from Warpcast and growing in Base, the future of DEGEN and Degen Chain still has a lot of room for imagination. Meanwhile, as the backyard of Base, if Farcaster continues to inject vitality, there will be greater opportunities to create Alpha targets. |
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Post time 18-4-2024 06:21:16