Base Surpasses $1B DEX Volume, Marking a Milestone in Decentralized Exchange Activity

I've had this feeling lingering for a while now that I feel late to the Base party, but in hindsight, we're still very, very early. I don't know the reason, but I feel compelled and motivated to start this form of content where I summarize the daily things that happen on Base and Farcaster, writing it in an article format. This may or may not be just another newsletter; there are no plans or roadmaps with this, and I'm unsure whether I'll have the energy to write about this every day, but fuck it, we ride.

Based morning!

Here are today's top news:

• Base hits over $1B in DEX volume for the first time.

• Merkle Manufactory reaches unicorn status.

• Degen L3 surpasses 200,000+ wallets.

Base hits over $1B DEX volume for the first time

Numbers numbers, but what do they mean? Honestly, it felt programmed that Base will reach this milestone. What surprised me is that I thought Base has already been doing this volume. This is pretty big for Base, this means that a lot, a whole lot of people have been doing things on Base. This also puts Base on the top 3 chains with the highest dex volume. I wouldn't be surprised if we see Ethereum native projects or founders migrate their projects to Base, or even launch something on the blockchain. Go figure.

Jesse Pollak (jesse.xyz) 🛡️

@jessepollak

first >$1B DEX volume day on @base

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1,462

9:23 PM • Mar 30, 2024

Merkle Manufactory hits unicorn status

What's Merkle Manufactory? Why is it important? Well, Merkle Manufactory is the company founded by Dan Romero and crew. They are the team behind Warpcast, a social media platform that builds on top of the Farcaster protocol. Currently, Warpcast commands a significant market share in terms of user base, which is closely related to Base, since a lot of developments are being created on Warpcast. With Merkle closing a new round of funding, this allocates more budget for developing the platform.

Dan Romero on Warpcast

1/ Wanted to let everyone know that Merkle Manufactory is closing a new round of financing. Will share more details soon.

Farcaster

Degen L3 surpasses 200,000+ wallets

As of this writing, $DEGEN now boasts over 200,000 unique wallets on their new L3 chain. It appears that a considerable number of people are very bullish on the new chain, myself included. I'm just not certain about what percentage of these are bots, but we'll still take it!

I feel overly positive about this (though I may be a top signal, so don't always follow my advice), especially since the L3 is less than a week old. $DEGEN had a successful Season 2 airdrop, which just concluded yesterday. One might think that the price of Degen would dip due to dilution, but in fact, it reached new all-time highs! This just goes to show that people really do like $DEGEN.

I feel that the $DEGEN team still has a lot up their sleeves; $DEGEN hasn't been listed on other Tier 1 exchanges like Coinbase, Binance, and Crypto.com (it's only listed on Bybit). There's also this significant narrative that they are building something amazing with the Degen L3.

Other News around the Base Space

• Onchaincoin has sparked intrigue with posts about the $onchain pill. While the details remain elusive, people have been actively casting it on Warpcast.

• Degen Season 3 starts today.

• Foundation is expanding to Base. Launching Genesis on April 2, 1PM EST

• Fvckrender is doing a 1/1 giveaway, participate by joining their channel.

• $ENJOY Airdrop claiming ends on April 1. Many people tout ENJOY as the first meme coin on Zora. (Hey this isn't Base, but I think ENJOY is based.)

• Black Mirror Experience Mint Date: April 2.

Very Based Arts and Mints

Disclaimer: Nothing in this email should be considered as financial advice. The content we produce is purely for entertainment and information purposes only. Purchasing cryptocurrencies and NFTs can result in you losing all of your investment.