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On today's issue:
Onchain summer is here (via Coindesk)
DeBank launches L2 app-chain (via Decrypt)
SBF jailed (via Blockworks)
Onchain Summer
Base has been launched, and it's getting a lot of activity and smart branding through their "onchain summer" campaign showcasing daily the different products built on this L2.
Per a Dune analytics dashboard, the chain has made ~2M in revenue since launch a week ago. That's a significant potential to be a big revenue line for Coinbase. There's a total of 216M bridged assets.
One of the largest drivers in transactional activity is friend.tech, an app where users connect their Twitter account, buy shares of their social media presence, and bid to buy/sell shares of others, pricing is done through a supply/demand algorithm. If you're a holder of shares of a user, you're able to access a private chat with them and all the other holders. There's also a leaderboard with points, hinting at some sort of airdrop. Real utility is TBD. Still, this app has made over 600K in revenue from people buying and selling shares of profiles.
Onchain summer is here.
DeBank Launches L2 App-chain
The portfolio tracker and API provider DeBank has launched their L2 appchain leveraging the OP stack. This new chain will be used to host their new social media platform, DeBank Stream.
This launch is a follow-up to their previous L2 launch in Oct 2022, when DeBank launched Hi, a chat platform with over 200k registered users.
This also marks a big milestone for the OP stack, as another chain is launched leveraging the technology.
SBF Jailed
SBF's trail is scheduled on October, and the judge has decided to revoke bail due to the fact that there's enough cause to believe that SBF had attempted to tamper with witnesses.
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