Base Is Here

GM Readers!📪 It's BitDegree Insider, and let's open the Web3 window.

⭐️Today's selection:

• 🔵Base Is Here
• 🛒Y00ts NFTs Are On The Move (Again)
• 🧩️Thursday Quiz
• 👌Selected Meme of The Day
• 📰Bite-Sized News

PUBLIC DEBUT

Coinbase, the cryptocurrency exchange, has granted public access to its Layer-2 solution, Base.

Recent data indicates a surge in Base's activity, with the daily transaction count nearing the 500,000 mark. The value locked within Base's smart contracts has surpassed $60 million, as per statistics from DefiLlama. For a clearer perspective, Optimism, another Layer-2 solution, holds approximately $900 million in its Total Value Locked (TVL).

In July 2023, Coinbase rolled out its mainnet version to developers. Though accessible to the public, it came with a catch — a one-way bridge, which meant assets could move to the mainnet but couldn't be easily transferred back. Despite this limitation, transaction volumes soared past 550,000. The meteoric rise in activity was largely driven by the trending meme-tokens. Clearly, from a promotional angle, Coinbase's strategy struck a chord.

To commemorate Base's launch, Coinbase rolled out special campaigns. Users were presented with an exciting opportunity: the ability to mint unique NFTs.

This initiative, predictably, was a magnet for airdrop hunters, drawing them in droves.

The ensuing activity did wonders for Base's network metrics, highlighting its burgeoning potential. This wasn't just a flash in the pan; the ripple effects were felt far and wide.

Developers, established projects, and diverse segments of the crypto community took notice. Their interest was more than just cursory glances; it was rooted in genuine curiosity and consideration.

Cementing Base's rising prominence, leading decentralized exchanges like Uniswap and DODO are now gearing up for integration.

Yet, a cloud of speculation looms over Base's future. They've not declared if there's a dedicated token in store for this Layer-2 innovation, or if they've opted to forgo it. This ambiguity has only added to the intrigue and buzz surrounding Base.

Users, while intrigued, have voiced concerns. Feedback points to occasional glitches within the network, leading to occasional transactional hiccups.

It's pivotal to note that Base is under the Coinbase umbrella, an entity that operates in close consultation with regulatory agencies. So, if a token launch is indeed in the pipeline, navigating through the regulatory maze will be a significant challenge.

What's Your Take?

TL;DR: Base, a Layer-2 solution, is seeing a rise in transactions and $60 million locked in its contracts. Coinbase's mainnet launch, featuring NFT campaigns, drove activity fueled by meme-tokens. Despite occasional glitches, interest from exchanges like Uniswap persists, but uncertainty surrounds Base's token plans due to regulatory considerations.

Y00ts NFT COLLECTION RELOCATING AGAIN

Y00ts is a Blue Chip NFT collection that started its journey on Solana and moved to Polygon at the beginning of 2023. Now, the DeLabs studio plans to transfer the NFTs from Polygon to Ethereum in order to "unite the DeGods and Y00ts communities."

Such a move might benefit the Ethereum NFT market, but it's not entirely positive for Polygon, which wanted to become a full-fledged platform, partly by supporting such comprehensive projects. Polygon is heading in that direction, possibly due to the adaptation of POL and a new roadmap, but the NFT market has decided that, for now, Polygon is primarily useful for inexpensive NFTs, which is still a use case.

However, there's no need to overestimate the switch to Ethereum. It's no big deal! Everything points to the fact that a single collection can be spread across multiple networks! This is clearly a trend with the development of projects like Zetachain and LayerZero, which offer omnichain bridges, including for NFTs.

If you're pondering how AI might revolutionize our world, just remember that NFT technologies won't remain static, either. While they might represent a niche, they've already become a staple for many. New things are on their way here!

TL;DR: Y00ts, a prominent NFT collection, is transitioning from Polygon to Ethereum to unite communities. This shift reflects broader trends of multi-network NFT projects, impacting both platforms while highlighting the evolving nature of NFT technologies.

DON'T LOSE COUNT

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THURSDAY QUIZ

It's Thursday! It's time for creativity, thinking, and solving stuff!

Today we're gonna do the same thing like the last week. Welcome to today's CAPTION CONTEST!

Caption the image by replying to this email! Tomorrow we'll select and showcase the best answer to today's challenge!

Think of a caption!

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• Futurama Takes a Comic Swipe at Bitcoin Miners in New Episode. Bitcoin mining becomes the main topic of Futurama's "How the West Was 1010001" episode.
• SpiritSwap Halts Operations Due to Multichain Fallout. SpiritSwap got spirited away.
• Ripple Leadership Gears Up for 2024 Jury Trial Over SEC Allegations. It seems that Ripple vs. SEC case could extend until June 2024.

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