Base Breaks ahead
The Base Layer-2 has now surpassed the Solana network in terms of daily token launches.
According to Dune Analytics, token launches on Base started to overtake Solana on July 24.
Base recorded close to 39K new launches on that day, compared to 33K on Solana.
During its most active day on July 27, 68% of newly deployed tokens were created on Base.
This sharp rise in activity is due to the integration of Farcaster and Zora in the rebranded Base App.
As users post on Zora within the app, each token will be immediately deployed with a 1B supply, with liquidity seeded directly on Uniswap.
However, it’s worth noting that Solana is still leading in terms of trading volume for newly launched tokens.
Stretched Too Thin
A member of the CurveDAO governance has issued a proposal to prevent further expansion of the protocol to additional Layer-2s.
The person behind the proposal, anonymously known as ‘phil_00Llama’, argued that each deployment required as much attention as Ethereum, but does not provide the same returns.
Phil added that Curve’s mainnet pools alone generate 450x more revenue than the combined value earned on 24 other networks.
As it stands, it would seem that the proposal lacks the necessary material to move forward, with a lack of solid elaboration and a clear set of benefits for the community, should it come to pass.
With the recent stablecoin narrative, the price of Curve’s native CRV token has risen by 84.2% in the past month from $0.50 to $0.92.
In Other News…
The Ancients are Moving. An anonymous Bitcoin whale begins to move over 300 Bitcoins worth $34.8M after over 12 years. The wallet was emptied, suggesting that the whale has finally exited the crypto market.
Undeterred. Japanese investment firm MetaPlanet announced another $3.7B stock raise last Friday, intending to continue their Bitcoin buying spree with the goal of having over 210K Bitcoins by 2027.
The Panama Playlists. A Spotify leak has revealed the musical tastes of many crypto leaders. It was hilariously revealed that Coinbase CEO Brian Armstrong has a playlist called “repeat”, which has a single trance song listed 60 times.
Justin Sun Goes to the Moon. Tron founder and crypto billionaire Justin Sun, successfully completed his journey to space through space tech firm Blue Origin. Sun is now the first Forbes featured crypto entrepreneur to have been to space.
Lido Layoffs 15% of Staff. Ethereum liquid staking protocol Lido attributed the layoffs to rising costs rather than performance. Lido is the second largest liquid staking protocol by TVL, holding over $31B in assets.
Solana Seeker Begins Shipping. Users will begin receiving the crypto-focused Solana mobile phone, Seeker, as shipping begins on August 4. The phone was first announced in May, and will be supported by a native crypto token, SKR.