Base Network Surpasses Solana in Daily Token Issuances Driven by Zora
Base, an Ethereum Layer 2 network from Coinbase, has surpassed Solana in daily token issuances, driven primarily by the on-chain social network Zora. Key points include:
- Zora allows users to create tokens from posts, significantly boosting activity.
- The ZORA token surged up to 440% during the app's launch but fell nearly 14% in the past week, still showing a monthly increase of over 500%.
- Since the Base App relaunch, Zora has seen:
- 1.6 million Creator Coins minted
- Nearly 3 million unique traders
- Over $470 million in total volume
- The "creator coin" model offers a fixed supply of 1 billion coins, with revenue linked directly to user engagement.
- Despite rapid growth, concerns exist regarding the focus on speculation and governance issues within Zora.
Overall, the creator economy on Base is expanding, with Zora at its core, while debates continue about its long-term viability.