Expanding: Deploying Dappradar’s $RADAR on BASE for Enhanced Visibility and Liquidity

Proposal Discussions
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#1

This proposal articulates why deploying $RADAR with Base, a cutting-edge Ethereum Layer 2 (L2) solution developed by Coinbase, represents a strategic move towards bolstering its market position, enhancing liquidity, and ensuring greater visibility within the crypto ecosystem. (And also color palettes are matching :grinning:)

BASE, powered by Optimism’s OP Stack, is designed to be a secure, scalable, and low-cost environment for developers and users alike. It aims to bring the next billion users to web3, leveraging Coinbase’s robust infrastructure and vast user base to facilitate widespread adoption . As a developer-friendly platform, BASE provides an open ecosystem where projects can thrive, supported by near-zero gas fees and high transaction throughput, which significantly improves user experience .

Deploying $RADAR on the Base network aligns with several key strategic goals:

Increased Visibility and User Adoption: By integrating with BASE, $RADAR gains access to Coinbase’s extensive user base, potentially driving greater adoption and visibility. This exposure is invaluable for growing the DappRadar community and enhancing the token’s market presence.

Improved Liquidity and Trading Efficiency: The deployment on BASE, means significantly lower gas fees and faster transactions for $RADAR holders. This improvement in trading efficiency and reduction in transaction costs can enhance liquidity, making $RADAR more attractive to both traders and long-term investors, and also yield farmers.

Innovative Ecosystem Participation: Being part of BASE ecosystem allows $RADAR to be at the forefront of web3 innovation. It opens up collaboration opportunities with other projects on BASE, driving utility and value back to Dappradar and its token holders.

Strategic Alignment with a Growing Platform: BASE is set to become a pivotal platform in the crypto space, supported by Coinbase’s leadership and vision for mass adoption. Aligning with BASE positions $RADAR on a platform that is expected to grow significantly, benefiting from the network effects and technological advancements that BASE brings to the Ethereum ecosystem.

In conclusion, deploying $RADAR on the BASE is not merely a tactical move for increased efficiency and reduced costs; it represents a strategic alignment with the future of blockchain technology. This move can catalyze greater adoption, enhance liquidity, and position Dappradar and the $RADAR at the heart of the next wave of crypto innovation. By voting in favor of this proposal, the Dappradar community can take a significant step towards realizing these benefits, marking an exciting new chapter in the project’s journey.

Let’s discuss.

Best regards

3 Likes
#2

sounds like a good idea to me. but… some issues we could possibly address?
If case they arise?

Your proposal effectively outlines the potential benefits of deploying $RADAR on the BASE network, highlighting increased visibility, improved liquidity, participation in an innovative ecosystem, and strategic alignment with a growing platform. However, it’s important to consider potential drawbacks and challenges that may arise from this deployment:

  1. Dependency on Coinbase’s Infrastructure: While leveraging Coinbase’s infrastructure can offer advantages in terms of scalability and user adoption, it also means becoming somewhat reliant on Coinbase’s ecosystem. Any changes or issues within Coinbase could impact the $RADAR deployment, potentially leading to disruptions or limitations.
  2. Centralization Concerns: Although BASE aims to be a developer-friendly platform, its association with Coinbase might raise concerns about centralization within the Ethereum ecosystem. Some users and developers might prefer decentralized solutions over platforms closely tied to centralized exchanges.
  3. Competition and Differentiation: The BASE ecosystem may host various projects and tokens, leading to increased competition for attention and liquidity. $RADAR would need to differentiate itself effectively within this ecosystem to stand out and attract users and investors.
  4. Network Effects and Adoption: While integrating with BASE could potentially expose $RADAR to Coinbase’s user base, achieving significant adoption and traction still requires effort. Simply being on the platform doesn’t guarantee widespread recognition or usage, and marketing and community-building efforts may be necessary to maximize the benefits of the integration.
  5. Long-Term Viability: While BASE may seem promising now, the long-term viability of the platform and its ability to sustain growth and innovation is uncertain. $RADAR would need to continuously evaluate the platform’s performance and adapt its strategy accordingly to ensure continued success.

Addressing these drawbacks and challenges would be crucial in fully assessing the potential impact of deploying $RADAR on the BASE network and making informed decisions about its implementation.

#3

Hello @SpaceMonkey, thank you for sharing this proposal (perhaps a draft?). Could you please use the DCP templates available here? DappRadar Community Proposal (DCP) Template

2 Likes
#4

Hey @SpaceMonkey Unless you want to make an official Forum proposal, this discussion would need to be in the General category.

Regardless, here’s my thoughts:

Firstly, I’m also very bullish on Base, as a Coinbase and Base user, I’m fan of how the company supported our industry – constantly building in public. In fact, DappRadar was one of the first platforms to integrate Base dapps and even offer additional tools to Base users in the form of Hot Contracts.

We should continue to add more features for Base, provide our community more content around its ecosystem, and even deploy onchain features like PRO to Base. But I don’t think we should shift our RADAR token to another chain anytime soon. It’s very costly on an operational and financial level to do so and the upside is not proportional to that cost for an established project like ours. We would need to create new liquidity pools and incentives, deploy, new smart contracts, and extend the teams workload extensively.

I understand that Base has, not just hype, but a strong community behind it that can be leveraged, but building on Polygon can be just as rewarding. If we were a new product and token, I would be more likely to agree with you, but I believe that leaning into our current resources and partners can also pay dividends. All the points raised, increased visibility, liquidity, ecosystem alignment, can be achieved within the Polygon ecosystem too.

As an anecdote, on a social level, Base might have Farcaster, but Polygon has Lens. Polygon also have a strong community with their community-led growth strategy improving all the time. I’m definitely aware that we shouldn’t have a sunk cost fallacy about the fact that we’re already live on Polygon, but I think we’ll get more benefits to DappRadar and RADAR, by doubling down rather than moving to the next big thing.

1 Like
#5

what about are own L2 chain? that a possibility in the future? as for being part of base sounds like a good idea but understand its attached to a CEX meaning we have to make some super deal with them chances are as well and it also centralises the token more to CEX’s as we try to turn decentralized. but a deal with coinbase is just as good as binance in my eyes.

1 Like
#6

It could make sense tbh. We could have validators of the network being the new way to stake. And they wouldn’t just be validating the network, but it would be an away of validating data contributions. So you stake and if you contribute data and other platform or organization contributions, you get a higher level and APR than average, but if you maliciously add wrong data to the DappRadar, you would get your data slashed.

Then users would delegate their tokens to the most active contributors that is supporting building the World’s Dapp Store and validating the chain too.

I really like that direction @madeafterdeath

1 Like