Expanding from Asia to Globalization: The Future Development Strategy of Base

Last autumn's survey in Asia made me more convinced that we need to increase our investment in this region. We have currently recruited a national head in the Philippines, and there are also related job vacancies in Indonesia and Singapore, with more positions to open in the future. We also plan to collaborate more closely with Chinese developers. Considering the importance of localization for the Chinese market, we will provide more communication channels and resources for Chinese developers, creators, and users. More related information will be released later this year.

Base is positioned as a global on-chain economy for everyone, and we are achieving this goal by executing our 2025 strategy while adhering to our core values. Specifically, it includes:

1. Build powerful open tools to help anyone create world-class on-chain applications.

2. Cultivate a vibrant ecosystem, connect open blockchain applications, and expand the user base.

3. Create a powerful on-chain account that provides seamless funding, identity, and management services.

4. Build Base into an on-chain economic center, with high liquidity and a globally accessible capital market that is always online.

5. Decentralize, expand, and accelerate Base, allowing global users to participate in the on-chain economy.

We are focusing on solving the key issues that make the on-chain experience run smoothly:

1. Fast and low-cost: The transaction fees on Base remain below 1 cent. We are testing the online test of the lightning block, which can reduce transaction speed to 200 milliseconds.

2. Secure and Convenient: The smart wallet simplifies user operations, allowing usage directly in the browser without additional installations. We also optimize the experience by subsidizing Gas fees and providing recovery features.

3. Developer-User Positive Cycle: We are integrating Farcaster and miniapps into Coinbase Wallet for seamless integration and to promote ecosystem expansion.

Meme culture is an important component of Base differentiation. I believe memes are important user guidance tools, and meme creators on Base have brought strong cultural influence. We are also exploring the concept of "content coins," believing that much content will evolve into memes, and many memes will also give rise to content creation.

We think every day about how to bring a billion users onto the blockchain. To achieve this, we need to expand the "cake" and not just attract those who are already interested in cryptocurrencies. Our mission is to build a global on-chain economy that is inclusive of everyone. Payments are a great example of how on-chain technology can improve people's lives. Stablecoins and fast, low-cost on-chain payments solve many practical problems. Areas such as on-chain finance, social, entertainment, music, art, gaming, and content can all enhance user experience by empowering developers and creators.

We are rebuilding Coinbase Wallet with the goal of increasing its speed by 10 times, while focusing on solving discovery and distribution issues. We are integrating Farcaster social dynamics and mini-apps directly into the wallet, allowing users to easily discover on-chain experiences within the app.

I am very optimistic about on-chain social networking; it has the potential to drive viral spread. In on-chain social networking, creators have ownership of their content and can earn revenue from the published content. This disrupts the traditional model and returns control to the creators. We need more applications like this to help bring a billion users on-chain.

To achieve the grand goal of 2025, we are taking the following measures:

1. Increase investment in developer tools, as developers will build on-chain applications that attract users.

2. Rebuild Coinbase Wallet to enhance speed and usability, and improve content discovery features.

3. Continue to decentralize, expand, and accelerate Base, building a truly open global economic platform.

We have just launched the Base Batches program, covering topics such as AI, stablecoins, mini-apps, and consumer applications. I look forward to seeing developers build more projects in these areas.

We place great importance on building a more inclusive global network. Base is committed to serving everyone, which means we will invest more effort in the localization of Base, Farcaster, and the entire community.

We have no plans to issue a new network token; Base uses ETH as the native asset to pay for Gas fees. Currently, my main focus is on creating excellent products and providing good services for developers, users, and enterprises.

Base is open and permissionless, and we have a deep commitment to decentralization. We believe that a global on-chain economy that promotes innovation, creativity, and freedom can only be built on decentralized platforms. We need to continue to work to establish Base as an independent brand and ecosystem, perceived as distinct from Coinbase, while also leveraging the advantages that collaboration brings.

We are committed to supporting developers at all stages. The new Base Batches project aims to provide comprehensive support for developers, including funding, exposure, mentorship, and community resources. It includes Buildathon events and incubator programs around the world, as well as opportunities to receive up to $1 million in funding support during Demo Day. We are building a long-term support system to help developers move from the idea stage to gaining attention and then to developing into a complete company.