Base TVL is at an all-time high without tokens or user incentives. On-chain metrics are also extremely good, with the following indicators: • Stablecoin market cap is $4.1B - The highest among Layer 2s. • Average daily transactions around 7-8 million, average active addresses over 2 million, with average daily DEX volume around $1.5B-$1.7B. Activities related to DeFi and memecoins (content coins) around the launchpads on the system are the engine attracting users.

• $ZORA up 10x in just under 1 week. Good bets include Visualize Value and BaseShake. • Clanker ecosystem with $CLANKER, $BNKR, $NOICE, and $QR. "Flywheel" will soon appear on Clanker in the near future, keep an eye on these tokens. • Projects integrated into BaseApp are well worth watching. • Brian Armstrong has also hinted that tokenized equities will soon appear on Base. If you missed the wave on Solana in 2024, I hope you won't miss the wave on Base in 2025. Based recognizes based.