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The Base Network: Bridging Centralized Users to Decentralized Finance

Jeordan Burkhart April 14, 2024
13 Comments

In the ever-evolving landscape of cryptocurrencies and decentralized finance (DeFi), one network has emerged as a crucial pipeline bridging the gap between centralized platforms and the decentralized world: the Base network. In this post, we’ll explore the significance of the Base network in connecting users from centralized exchanges like Coinbase to the realm of DeFi. Additionally, we’ll delve into three prominent decentralized applications (DApps) operating on the Base network and shed light on their unique features. If you were here for Coach Tom’s Saturday School presentation, a couple of these applications should look familiar!

The Base Network: A Bridge to DeFi

Centralized exchanges like Coinbase have long been the entry point for many individuals venturing into the world of crypto. However, as the DeFi space continues to flourish, there’s a growing need for seamless interoperability between these centralized platforms and decentralized protocols. This is where a network like Base can really shine.

The Base network serves as a vital conduit for Coinbase users to various DeFi applications and protocols, allowing for an easy transition from the centralized exchange to self-custody in DeFi. In recent months, the Base network has seen drastic increases in usage and total value locked (TVL). As crypto becomes more and more mainstream, I expect to see a lot of DeFi newbies coming to the space from Coinbase. That said, it only makes sense that some of their first interactions with DeFi would take place on Coinbase’s blockchain.

Decentralized Exchanges on the Base Network

  1. Aerodrome– Aerodrome stands tall as a prominent player in the Base network’s ecosystem. Renowned for its intuitive interface and robust infrastructure, Aerodrome empowers users to trade digital assets in a decentralized manner while maintaining full control over their funds. While the other DApps I mention operate on a multiple networks, Aerodrome is focused solely on the Base network. Aerodrome is the top DEX on Base as of this post, with over $700M in TVL. Moreover, Aerodrome prioritizes security and user privacy, implementing rigorous measures to safeguard users’ assets and personal information.
  2. Uniswap- Uniswap has long been one of the pioneering decentralized exchanges across many networks, offering users a decentralized trading experience coupled with unparalleled liquidity. Built on the principles of transparency and security, Uniswap allows users to trade a diverse range of cryptocurrencies directly from their wallets, without the need for intermediaries. With its automated market-making (AMM) mechanism, Uniswap ensures fair and efficient price discovery, enabling seamless token swaps with minimal slippage.
  3. ExtraFi– ExtraFi rounds out the trio of decentralized applications on the Base network. What makes ExtraFi a little different than the the last two is that it is more of a farming, staking, and lending protocol. Leveraging cutting-edge technology, ExtraFi provides users with the ability to earn yield in several different ways across a multitude of crypto assets. There is also a bridge built into the DApp for a seamless transfer of funds from one network to another. If you’re looking to utilize this DApp, you can do so on the Base and Optimism networks.

Conclusion

The Base network serves as a crucial infrastructure bridging centralized users to the realm of DeFi. By providing a seamless transition pathway, the Base network empowers users to access a myriad of financial services while retaining control over their assets. With decentralized apps like Aerodrome, Uniswap, and ExtraFi leading the charge, the Base network continues to catalyze the adoption of DeFi, ushering in a new era of financial sovereignty and inclusivity. As the crypto space continues to evolve, the Base network stands as a beacon of innovation, fostering a more accessible and equitable financial ecosystem for all. Let me know what you think in the comments below!

Categories: Uncategorized

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Jeordan Burkhart April 17, 2024
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    1. Jeordan Burkhart April 14, 2024

      You are very welcome 🙏

      One thing I didn’t mention that I should have, but BASE does not have it’s own token *yet*. Tom covered it Saturday but it might lead to an airdrop opportunity getting into these protocols before the token comes out, should they release one.

  3. A C April 14, 2024

    Nice synopsis and comparison! I appreciate concise straightforward technical writing. Very easy to understand and gets the the point. Thank you!

  4. Violet P April 14, 2024

    I’m going to do more price analysis on the Aero token but I’m curious what you think the possibility is for it pricewise. Would you compare it to the Uniswap token? It’s sort of like that but only runs one network not multiple like Uni. And it’s not a gas token so it’s not like Sol or Optimism.

    1. Jeordan Burkhart April 14, 2024

      If I’m being honest, I have no clue! Lol. It’s already ripped a lot since inception but of course is back down now. It has like 8x more TVL than Uni on Base network so it’s definitely a beast in the Base chain. I like it personally, but I am not sure about the utility 100%

      1. Violet P April 15, 2024

        Yeah, I got in at about 0.70 and it’s about a 3x. There is alot of speculation about it going higher so I need to do some deeper research to figure out my plan.

  5. DIANA AVERY May 3, 2024

    True fully, I have not been keeping up but I do want to know more. I see the value in using Base and will re-read the article. Also, watch the recording from the Saturday school.

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