Cumulative profits for Base network activity have reached $3.3 million, even after removing fees for pushing the activity to the Ethereum mainnet. The network’s mainnet launched just 22 days ago, and prior to the launch, money had already been bridged over, resulting in revenues prior to August 9. In comparison, Arbitrum generated $63 million in revenue and $16.5 million in profit since its launch, while Optimism generated $43 million in revenue and $9.9 million in profit. Despite a slight declining trend in Base’s weekly percentage profit margin, it still stands strong above 60%, which is higher than other L2 rollups profit margins. As long as the Base memes continue and gamblers keep participating, the sky’s the limit for Coinbase’s on-chain experiment.
Key points:
1. Cumulative profits for Base network activity amount to $3.3 million.
2. Revenue generated by Arbitrum and Optimism since their launches.
3. Base’s profit margin stands above 60%, higher than other L2 rollups.
4. Declining trend in Base’s weekly percentage profit margin.
5. The success of Coinbase’s on-chain experiment depends on continued interest and participation.
Hot Take: Despite facing a slight decline in profit margin, Coinbase’s Base network has achieved impressive cumulative profits and stands out among other L2 rollups. With a strong user base and ongoing interest, the future looks promising for this on-chain experiment.
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