Base pivots from social to financial primitives
Coinbase's Base layer-2 network is shifting its focus away from Web3 social applications toward decentralized finance and trading primitives.
The argument
The hosts discussed a post by Base creator Jesse Pollack admitting that the previous focus on creator and social coins was the wrong direction. Under new leadership on the app side, Base is expected to prioritize perps, trading, and developer-friendly financial environments to compete with Robinhood.
The thesis, stress-tested
✓ What validates it
- ✓Increased volume in perpetuals and DeFi trading on Base
- ✓Successful deployment of new financial applications on the Base network
▸ Risks discussed
- ▸Competition from established TradFi platforms with massive distribution
- ▸Risk of alienating the existing Web3 social developer base
Hear it yourself
"What I got out of this episode was Jesse admitting that the social coin creator coin direction that base was going in and promoting both, I guess on the platform, the infrastructure level, that was a bit more in terms of what the base app prioritized, what he as a leader of the base ecosystem prioritized, this whole creator coin…"
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