What is Expand (XZK)?

Since its launch in August 2023, Base—an Ethereum Layer2 blockchain incubated by Coinbase—has rapidly emerged as one of the most influential players in the crypto space. With robust infrastructure, impressive ecosystem growth, and solid backing from Coinbase, Base has attracted significant attention from both developers and investors. Notably, following the official announcement in September 2023 regarding plans for a native token, anticipation for Base’s Token Generation Event (TGE) has continued to mount.
This article provides a comprehensive overview of the Base network, the details and significance of the forthcoming Base TGE, an in-depth look at its rich and diverse ecosystem, as well as insights into its ties to Coinbase’s broader business performance. We will also explore how Base and Coinbase differ in targeting user groups, highlighting the vital role Base will play in shaping the future of blockchain adoption.

What is Base? The Backbone of Coinbase's Layer 2 Ambitions

Base is a secure, high-throughput, and low-fee Layer 2 blockchain built on Ethereum. Developed and incubated by Coinbase, Base leverages the OP Stack and Optimistic Rollups to boost scalability while ensuring security and compatibility with major Ethereum tools.
Since its mainnet launch in August 2023, Base has processed billions of transactions, attracted over $5 billion in total value locked (TVL), and delivered ultra-fast transaction speeds (as low as 200 milliseconds per block). These achievements solidify Base as one of the top contenders in the Layer 2 arena.
By integrating seamlessly with Coinbase’s massive user base and infrastructure, Base provides developers a powerful platform to deploy next-generation decentralized applications (dApps), while offering users an accessible entry point to the world of Web3.

Base TGE: Date, Expectations, and Tokenomics

The crypto community has eagerly awaited the Base TGE since its official announcement in September 2023. Although Coinbase and Base’s co-founder Jesse Pollak have teased that the Base token launch is “imminent,” there is still no official Base TGE date. However, growing signals and ecosystem developments suggest the token generation event could arrive soon.
A recent JP Morgan report estimates that, given Base’s current network activity and dynamic tokenomics, the Base TGE could unlock up to $34 billion in value. It’s anticipated that most tokens will be allocated to developers, protocol validators, and the Base community, driving further growth and rewarding early supporters.
Jesse Pollak, in a series of public communications, reinforced that those who "build, create, trade, and participate" on Base will eventually be rewarded—further fueling speculation and engagement ahead of the official Base TGE.

Inside the Base Ecosystem: Top Projects and Strategic Growth

A key factor in Base’s meteoric rise is its flourishing ecosystem of dApps and innovative projects. Backed and nurtured by Coinbase Ventures, Base’s ecosystem spans DeFi, SocialFi, AI, gaming, infrastructure, and beyond.

Top Projects to Watch in Base Ecosystem
Base App
The Base App is a versatile, all-in-one web3 portal and the primary gateway to the Base ecosystem. It aggregates features like social interactions, content creation, digital asset trading, instant messaging, and daily payments. Leading dApps like Farcaster, Zora, Morpho, Noice, Virtuals, and Giza are integrated, offering users rich in-app experiences. The app is in closed beta, positioning itself as the first stop for newcomers to the Base ecosystem.
Farcaster
As a decentralized social protocol, Farcaster represents SocialFi’s frontier on Base. Integrated with Ethereum, Solana, and several L2s (including Base and Arbitrum), it empowers users and developers through greater control and interoperability. Notably, Base App posts sync directly with Farcaster, and vice versa. Farcaster’s ecosystem recently expanded to include AI-powered meme coin launches like Clanker, reaching approximately 30,000 pro users in October 2023.
Zora
Zora is an on-chain social network that lets creators tokenize posts as NFTs or fungible creator tokens. Recent updates include a livestream feature and a $20 million fund to incentivize creative talent. The protocol also enables Base App users to mint tokens from posts in one click, thanks to its deep integration.
Virtuals Protocol
Specializing in AI Agent issuance, Virtuals empowers anyone to create, own, and monetize autonomous AI agents. Their Unicorn Launch model allows true collective ownership, and the viral x402 protocol re-centers the project in the spotlight.
DeFi Powerhouses: Aerodrome, Morpho, and Limitless
Aerodrome is Base’s leading DEX, handling over $560 million in daily trading volume.
Morpho, a decentralized lending protocol, boasts over $12.6 billion in deposited funds on Base and is a consistent recipient of Coinbase Ventures funding.
Limitless has established itself as the ecosystem’s top decentralized prediction market, with $520 million+ in trading volume and two funding rounds led by Coinbase Ventures.
AI and Prediction Markets: Bankr, Football.Fun, SynFutures, Avantis, and More
Bankr: An AI-agent powerhouse and x402 protocol leader, Bankr has attracted ecosystem funding.
Football.Fun: A sports prediction dApp strongly endorsed by Base, with plans for a revenue-sharing token (FUN).
SynFutures and Avantis: Two perpetuals DEXs bringing hundreds of millions in trading volume and expansive synthetic asset support.
Glider, Basenames, and several up-and-coming SocialFi protocols like Noice, Memory, and Coop Records round out the rapidly diversifying Base landscape.
Many of these projects (including Morpho, Farcaster, Zora, and Aerodrome) have direct investment or operational support from Coinbase Ventures, ensuring close strategic alignment with both the

Base ecosystem and the broader Coinbase mission

Coinbase Q3 Earnings Snapshot: Financial Strength Fuels Base
In Q3 2023, Coinbase reinforced its position as a crypto industry giant with these headline figures:
- Net Income: $433 million
- Total Revenue: $1.9 billion (+25% quarter/quarter)
- Crypto Holdings: Over $2.6 billion in assets, including nearly 15,000 BTC
- Trading Volumes: Retail volume at $59 billion (+37%), institutional at $236 billion (+22%)
- Stablecoin Holdings: $15 billion on-platform; $53 billion externally
- Product Innovations: Acquisition of Echo, Deribit, and upgrades to its DeFi and payment features
These robust financials allow Coinbase to continually invest in Base’s development and expanding ecosystem, accelerating both the pace and scope of innovation in the lead-up to the Base TGE.

User Targeting: How Base and Coinbase Complement Each Other

The synergy between Base and Coinbase is a strategic cornerstone:The Coinbase main app appeals to retail and institutional users seeking seamless, regulated access to crypto trading, custody, and yield.
The Base App and broader Base environment target web3 developers, power users, and experimenters. Here, new dApps and features undergo real-world testing before scaling to Coinbase’s mainstream audience.
This relationship creates a powerful feedback loop—Base acts as Coinbase’s “innovation lab,” with successful ecosystem experiments moving up into the main Coinbase app and benefiting millions of users.

Advancing DeFi and Payments: From Base Pay to x402 Protocol

Coinbase is using Base to pilot new financial primitives, including:
- High-yield, chain-native lending powered by Morpho and Steakhouse Financial
- Bitcoin-collateralized chain lending
- Native DEX trading
Integrated payments via Base Pay and the novel x402 protocol—a stablecoin payment standard supporting automated microtransactions through HTTP.
Regulatory pursuits, such as Coinbase’s bank charter application, could see Base-enabled FDIC-insured accounts and on/off-ramp railways, merging the best of traditional finance (TradFi) and decentralized finance (DeFi).

Conclusion

As Coinbase leverages Base as its on-chain innovation sandbox and development accelerator, the value proposition for both users and developers only increases. Tracking Base’s progress, ecosystem evolution, and the eventual Base TGE is key for anyone interested in the convergence of crypto, DeFi, and the future of on-chain finance.
For up-to-date details and opportunities surrounding Base TGE, monitor official Base and Coinbase announcements—as Base’s token event nears, active participation could yield significant rewards in crypto’s next major ecosystem.