Someone turned $100 BALD into $1,000,000, this is the guide on how to join the Base ecosystem
Base, the Layer-2 scaling solution made by crypto exchange Coinbase, has become the latest trend for DeFi degens aping into memecoins. BALD has become a new sensation, and in this guide we will explain how to join the degeneracy.
First, we want everybody to know that investing in memecoins is highly speculative and more akin to a game of hot potato than actual investing. Moreover, the Base ecosystem isn’t solidified yet and it remains to be seen whether the Coinbase chain has a future alongside other L2 solutions such as Optimism and Arbitrum. Do your own research and due diligence and never spend more money then you’re able to lose.
Now, let’s get into DeFi memecoins on Base by Coinbase.
How big is DeFi on Base?
On 31 July, users bridged a total of $65.6 million worth of ETH from Ethereum to Base. That’s the equivalent of more than 35,000 ETH.
How to move your tokens from Ethereum to Base?
You can move your tokens from Ethereum to Base by sending ETH (and ETH only) to a specific crypto address. This address would be the official Base bridge contract. The bridge address is 0x49048044d57e1c92a77f79988d21fa8faf74e97e (confirmed by Web3 researcher 0xCygaar)
- Go into your Web3 wallet (MetaMask for example)
- Send ETH to 0x49048044d57e1c92a77f79988d21fa8faf74e97e
- And your ETH will bridge to Base
How to add Base to MetaMask?
- Open your MetaMask browser extension or mobile wallet
- Open the network selection menu, and select “Add Network”
- Then select “Add network manually”
- And input these values:
Network name = Base mainnet
RPC endpoint = https://mainnet.base.org
Chain ID = 8453
Currency symbol = ETH
Block explorer = https://basescan.org
Where to swap tokens on Base mainnet?
How to bridge your Base mainnet tokens back to Ethereum?
Base has not officially opened a bridge back yet, but there are some alternative solutions.
- OkOk Network has a bridge (we did not test this) from Base to Arbitrum. When your assets are on Arbitrum, you can easily move them back to Ethereum through for example Stargate Finance.
- You can also use the Native Withdrawal Process from OP Stack, which is the system Base is built on. This process can take up to 7 days, but it will always work. Read the complete guide by 0xCygaar on Twitter. Keep in mind, this is highly technical and not recommended for the average Web3 user.
What is the BALD crypto token?
BALD is a memecoin that originates on the Base blockchain ecosystem. Supposedly, BALD refers to the baldness of Coinbase CEO Brian Armstrong. Technically, it’s a memecoin without utility, but various memecoins have spawned utility over time. For example, Shiba Inu has its own exchange and is building its own Layer-2 network. Yet, we do not advise our readers to invest in these high-risk memecoins.
How do I make $100 into $1,000,000 within a day?
Anybody can do it if you’re early and you know what you’re doing. Therefore, doing research into Web3 technologies is never a bad time investment. However, it’s also not a guarantee that you will get rich. Yet, you will have learned something that could be beneficial in your career, and that’s better than perfecting 360 no-look quick scopes in Call of Duty.
Where to swap memecoin tokens on other blockchains?
Over the years we’ve seen various memecoins become part of pop culture, including Dogecoin, Shiba Inu and most recently PEPE. Both SHIB and PEPE can be found on Uniswap, the leading decentralized exchange on the Ethereum blockchain. However, memecoins can exist on any blockchain and on every DEX, so be sure to dive into various ecosystems through the DappRadar DeFi Rankings.
How does Base work for Web3 developers?
Base is a Layer-2 solution tapping into the OP Stack from Optimism. This means that Base taps into all the resources provided by the Optimism ecosystem. Base uses the security of the Ethereum blockchain, while utilizing the speed and scalability of the OP Stack. This also means that Base is EVM compatible, and decentralized applications written for Ethereum or other EVM chains can easily be ported to the Base network.
Can I list Base dapps on DappRadar?
Yes, but DappRadar has not integrated Base yet. Developers can list their dapps, but the product pages will not show data yet.