⚡Base Season Arrives in Full Force
Plus Blast TVL hits new ATH, high yields on Aerodrome, and more
The Dynamo DeFi newsletter covers trends, on-chain analysis and tools in crypto each week. Be sure to also check out my YouTube for more regular content.
Upgrade to the premium newsletter for access to premium articles, videos, and a Discord group.
📈Trends and Narratives
Base Season Arrives in Full Force
After a large run in Q3 last year, Base TVL stayed mostly flat until the end of February. Since February 25th, TVL on Base is up almost 300%.
What changed?
For one thing, as is the pattern these days, the memes on Base took off…
If you spent any time in the crypto news-sphere or on Twitter, there was a ‘Base Season’ narrative growing. Amidst this, some were speculating that the Base narrative was forced and wouldn’t actually happen.
According to the data… Base season is happening.
Activity rose so much, that Coinbase began to warn users over potential transaction failures on Base.
Outside of memes, 30 protocols on Base have at least doubled their TVL in the last 30 days. The chain is growing and the protocols are growing with it.
Last week, I wrote a deep dive into the Base ecosystem and Coinbase’s ultimate vision of Base. Many of the protocols I covered have grown significantly and show no signs of slowing down.
How to Capitalize
Farm Base DeFi projects for yield and potential airdrops. Aerodrome currently has sizable yields, even on blue chips.
Use Base’s extensive SocialFi ecosystem. Social applications like friend.tech, Farcaster, and Circle.tech are incorporating crypto.
Explore the Base memecoin ecosystem. If Base continues to do well, memecoins on the chain will continue to pop off.
⚡Dynamo DeFi Pro Group Zoom Call This Week
These week, at 6pm EST on Wednesday, April 3rd, we’re conducting the monthly group zoom call to discuss trends driving the crypto market.
For $11/month (less than lunch in most countries), premium subscribers get:
⚡Discord to discuss on-chain data and trades. Learn more here.
⚡Community calls & AMAs in Discord. 3X per month I’m holding community calls and AMAs in the Dynamo DeFi Discord.
⚡Exclusive newsletters & on-chain data indicators. Actionable insights about which tokens have strong fundamentals. Plus special in-depth reports.
⚡Pre-recorded videos. These will be longer in-depth videos where I show my research process. View past videos here.
⚡Monthly group calls. Each month, I’ll conduct a group video call to discuss the market, latest crypto trends, and more. Premium subscribers can access calls here.
🔢On-Chain Analysis
Blast TVL Surpasses $1.3B
Blast, an Ethereum Layer 2 rollup, continued to gain DeFi TVL this week, even amidst a series of high-profile exploits.
This comes after a month of rapid growth since launch, making Blast the 6th largest chain and second largest rollup by TVL.
🚜Farm of the Week
WETH-USDC on Aerodrome
Aerodrome is Base’s juggernaut DEX and yield farming protocol. Over $500M in TVL and eye-popping yields - 6 of the top 10 spots on DeFi Llama’s Base Chain are Aerodrome pools.
How it Works
Earn 63% on your WETH by depositing WETH and USDC. Aerodrome makes it easy.
Check out some of Aerodrome’s other pools. If you are holding any of those tokens and Yield Farming the Right Way, there are fantastic APY opportunities.
Risks
🛠️Tool Spotlight
Use Koinly to Prepare for Crypto Taxes
With tax day in the United States just a few weeks away, many crypto investors are sifting through hundreds or even thousands of transactions.
While you should be sure to figure out the solution that’s right for you and consult a professional if useful, I’ve found Koinly helpful for compiling my transactions across dozens of wallets and exchanges. Koinly pulls your transaction history directly from your wallets, automating part of the process.
📅Key Events This Week
Macro Events
📊 First Day of Q2 - April 1st
📊 FED Chair Powell speaks - April 3rd
📊 February Jobs Report - April 5th
Token Unlocks
🔓 SUI (2.67%) - April 2nd
🔓 GAL (3.34%) - April 4th
🔓 HFT (3.56%) - April 6th
Launches & Updates
Note that these launches are mostly unvetted by the Dynamo DeFi team and this isn’t an endorsement of any of them.
🚀 Immutable’s Space Nation closed beta launch - April 1st (Source)
🚀 Immutable’s Teikos closed beta launch - April 1st (Source)
🚀 Verus PBaas Chain launch - April 1st (Source)
🚀 $HORD revenue share - April 1st (Source)
🚀 Nakamoto Galactic Grail game release - April 1st (Source)
🚀 Smart Aliens $SAS airdrop to Arbitrum community - April 1st (Source)
🚀 PROM NFT Marketplace launch - April 1st (Source)
🚀 OracleAI’s dApp release - April 2nd (Source)
🚀 PROM’s first NFT free mint - April 2nd (Source)
🚀 $BCH Halving- April 2nd (Source)
🚀 Nexus devnet launch - April 3rd (Source)
🚀 Polymesh mainnet upgrade- April 3rd (Source)
🚀 Alvara protocol testnet launch- April 4th (Source)
🚀 Escoin 50m token burn - April 5th (Source)
🚀 $COST airdrop to Photo Finish Jockey Club- April 6th (Source)
That’s all for this week. For more frequent content, follow me on Twitter and YouTube.
Until next time,
Patrick Scott
Dynamo DeFi
You know I love base so love this !