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Every week, the essential information to follow Web3

The world of cryptocurrencies is constantly evolving... it's often difficult to keep up with it all. We save you time and remind you every week of what you need to remember, nothing more, to make the right decisions.

Every week, the essential information to follow Web3

The world of cryptocurrencies is constantly evolving... it's often difficult to keep up with it all. We save you time and remind you every week of what you need to remember, nothing more, to make the right decisions.
👉
Gaming : Playmakers lève 1,5 million de dollars
Fondée en 2022, Playmakers est une plateforme française qui permet aux joueurs de jeux vidéo de devenir des créateurs. L'ancien directeur général de Xbox France, Hugues Ouvrard, fait partie des investisseurs.
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EXCLUSIF. Visa est tout proche de rejoindre l'Adan
Le géant américain serait sur le point de rejoindre l'Association pour le développement des actifs numériques (Adan). Ce serait un nouveau grand coup pour l'association présidée par Faustine Fleuret.
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Coinbase recruits Côme Prost-Boucle to head up its French operations
Two months after obtaining its PSAN registration with the AMF, the American platform has just recruited one of the co-founders of NFT Paris, Côme Prost-Boucle, to head up its French operations. The aim is to become the market leader in France.
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SG-Forge at the heart of Societe Generale's activities
The banking giant's crypto subsidiary has been set up alongside the Global Banking and Investor Solutions teams.
More >
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Engie sells one of its blockchain activities to FeverTokens 
After several years of operation, French energy giant Engie has decided to sell Rockside, which is one of its blockchain activities.
More >
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Crypto: companies forced to turn their business around
With the Bear Market, some companies are forced to reinvent themselves, on pain of disappearing. This is particularly true of Tropee and Multis.
More >

Get ahead of tomorrow's innovations

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The Big Focus
coinbase layer-2 base
Presented in February and officially launched in August, Base has rapidly established itself as one of the most widely used Ethereum scalability solutions. Let's take a look at the stakes involved in its development.

The Layer 2 war has been raging for several months now, and Coinbase officially entered it on August 9, when its Base scalability solution was deployed on the mainnet.

Beyond the stated goal of onboarding "the next billion users and the next million developers on blockchain", Base has above all enabled Coinbase to find new growth drivers. And from this point of view, the launch has been a success.

In just over 5 months, Base has entered the layer 2 podium in terms of total value tied up (TVL) with just under $400 million, behind Arbitrum ($2.35 billion) and Optimism ($820 million). It even made it into the top 10 for all blockchains combined, according to data aggregated by DeFi Llama.

Base generated over $5 million in revenue from transactions made by the more than 390,000 users, according to data aggregated by asset manager 21Shares on Dune Analytics.

These good figures were largely achieved thanks to the launch last summer of the FriendTech social network, whose temporary frenzy triggered a record number of Base transactions, peaking at 1.8 million on September 14 and 1.4 million on October 2.

But speculation is not the only reason for the success of Coinbase Layer 2. "Base has set up a very comprehensive onboarding system. Unlike other blockchains, it's much easier to deploy there. Thanks to this, they were able to mobilize a sizeable community fairly quickly," remarks Mounir Benchemled, CEO of DEX aggregator ParaSwap, which also deployed on Coinbase layer 2 in September.

A strategic alliance with Optimism

To launch its layer 2, Coinbase has chosen to use OP-Stack, the optimistic roll-up developed by Optimism and launched last June.

"Today, OP-Stack is the most developed layer 2 solution. Optimism also offers the advantage of providing a clearer roadmap than its competitors, and support for more advanced projects", continues Mounir Benchemled. For a company with institutional ambitions like Brian Armstrong's, these arguments are bound to set it apart.

A few weeks after the launch of Base, Coinbase announced that it shared Optimism's vision based on the principles of a "Superchain", a network of interoperable layer 2s.

On August 24, the two companies even announced a revenue-sharing agreement for Base. In return, Coinbase Layer 2 will receive up to 118 million OP tokens (around $250 million at current prices) over a 6-year period, which will enable it to participate in Optimism's governance.

Making the most of your brand

"Even though Base has had an interesting start, in the long term it will have to find differentiating elements compared with other layer 2 solutions," warns Stanislas Barthélémi, head of blockchain & crypto at KPMG.

Base has a potential user base of over 100 million, and the power of a brand that is currently one of the most reassuring on the market in terms of regulation.

"In recent years, Coinbase has spent an enormous amount of money on simplifying its user experience as much as possible, both for its platform and for its various products such as Coinbase Wallet. It could do the same for Base, and thus secure itself some interesting traction," continues Stanislas Barthélémi.

There's no shortage of possibilities, especially since USDC, Circle's stablecoin, has been available natively on Base since early September, i.e. without the need for a bridge. For Stanislas Barthélémi, "this integration opens up a wide range of possibilities for everyday payments and cross-border transactions at lower cost. Coinbase clearly has many levers to pull to make Base viable".

Decentralization in focus

In addition to facilitating access to the blockchain for its users, Coinbase has been hammering home in recent months its desire to decentralize the operation of Base to make it "an open and neutral platform where developers and users can participate freely", explains the company, which for the moment has not revealed a precise timetable.

Once mentioned as a possibility "at some point in the future" by its General Counsel Paul Grewal, the launch of a native token for Base has for the moment been totally ruled out by CEO Brian Armstrong. "We have no plans to create a token for Base," he explained to US media outlet Decrypt in early December.

"It's harder to imagine decentralizing a layer 2 without a token," raises Mounir Benchemled. "A token provides more flexibility to set up governance models or incentives to use the protocol," he adds.

It has to be said that the American environment is not necessarily conducive to such a launch, with the Securities and Exchange Commission (SEC) having drastically tightened the regulatory screws on the crypto sector since the fall of FTX. For several months now, the SEC has tended to consider the majority of cryptos or tokens as financial securities. A reclassification that Coinbase wishes to avoid more than anything else.

"Because of this threat and the lack of clarity in the rules, many projects have put their token projects on hold," confides a French entrepreneur who has just spent several months in the United States.

Get ahead of tomorrow's innovations

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Come and meet the Web3 players

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Paris, France
Sep 26, 2024 8:30 AM

How payment specialists integrate digital assets

Find out how payment specialists are integrating digital assets at this event organized by The Big Whale media.
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AI and Web3: the great convergence

The Big Whale vous convie le 25 avril, de 8h30 à 11h30, à une rencontre axée sur l'intelligence artificielle et le Web3, pour explorer comment le futur de ces deux sphères technologiques est interconnecté.
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Mar 25, 2024 8:30 AM

Blockchain at the heart of the energy transition

The Big Whale vous invite le 28 mars, de 8h30 à 11h30, à découvrir comment la blockchain révolutionne le monde de l'énergie.
Paris, France
Feb 1, 2024 8:30 AM

Staking: future prospects and expected innovations

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