Hello there, and welcome to the tenth edition of Base Directory's newsletter.
Every weekday, I'll send you a concise email highlighting everything you need to know about an onchain product built on Base, including my thoughts on it and how you can get started using it.
Today's spotlight is on /Send, a peer-to-peer (p2p) payments app that allows you to easily send and receive USDC in your daily transactions.
How /Send Works:
Transferring USDC onchain from one wallet to another isn't necessarily difficult, especially if you're a crypto native. However, the experience can be somewhat clunky. As a stablecoin, USDC isn't a speculative asset - it can be relied on as a store of value in everyday transactions. USDC offers all the advantages of a crypto token without the baggage of wild fluctuations in value, which is why many people globally use it for cross-border transactions, paying employees, and even buying coffee.
I walked into @Menottis in Culver City, scanned the QR code and was able to order my Iced Coffee!
Super quick! The staff was unsure how the magic internet money worked but they saw on their ipad that the order went through.
Pretty cool to see…
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Given the utility of USDC, it makes sense to have a dedicated wallet to use for USDC transactions on the go which is what /Send provides. It's a secure and quick way to move your USDC (on Base) around on mobile without compromising the safety of your funds.
/Send offers embedded wallets, which makes it helpful for onboarding people who aren't familiar with crypto. For example, if you're in the US and want to send money to someone in Nigeria, you could have them download /Send, share their wallet address with you, send them USDC and direct them on how to go offramp. The entire process would only take a couple of minutes.
With /Send, there's no need to note down and back up seed phrases. Instead, it uses passkeys to secure your funds and offers sendtags - readable names linked to wallet addresses for transactions.
Here's the flow of using /Send:
Create an account using your mobile number.
Deposit USDC on Base, Ethereum, or the in-app token; SEND into your wallet.
Send funds to any wallet address. If your recipient is already on /Send, you can transfer to them using their Sendtag, mobile number, or SEND id (a unique ID for every /Send account).
You can keep up with updates from the /Send team via their X (fka Twitter) profile and check out the product here.
To explore other products built on Base, visit www.basedirectory.xyz.
Thanks for reading through! See you tomorrow.
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