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🔵📊 How does @base stack up against other L2s? 1. Founded → note that as an L2 team, Base is “2-3” years behind others 2. Labs entity → a startup within a publicly listed crypto company 3. Core developers → lean, albeit rapidly growing team 4. L2 category → OP Stack & Superchain 5. TVL (in apps, total, and utilization) → big picture: ~6 months live, CB has $200B of user assets to bring onchain 6. Apps on platform → 2nd only after Arbitrum 7. DEX volume → big picture: CB quarterly trading volume ~$150B 8. Stablecoin supply → big picture: CB & @circle USDC partnership 9. MAUs → @CoinbaseWallet UX could increase user adoption 10. Transaction fee revenue → still small in the context of CB 11. User retention → ⅓ of new users come back to Base after 1 month 12. Market cap → potential to be a meaningful contribution to CB’s business