In another interesting development, Base, an Ethereum Layer-2 network powered by Coinbase, has, for the first time, overtaken Solana in daily token creation, as per data posted today by Satoshi Club. On July 24 and 27, Base recorded over 54,000 new token launches each day, more than double those of Solana’s. Specifically, on July 27, Base registered 54,341 new token creations, much higher than Solana’s 25,460.
Zora and Base Collaboration
This massive rise in token launches on Base has been majorly fueled by the recent integration of Zora’s social finance network in the Layer-2 network. Zora has experienced a significant surge in customer participation and launches of creator tokens in its socialFi platform. More than 1.6 million tokens have been created since mid-last month on Base, with Zora identified as the major contributor to these launches.
The growth of Base is redefining blockchain trading activities, with creators and builders appearing to prefer the Ethereum Layer-2 network. Its incorporation with Zora’s token mechanism has allowed more rapid and accessible token creation, with users taking advantage of its decreased transaction costs and enhanced processing speed.
Zora’s incorporation into Base highlights another achievement in the growth of token economies. By enabling people to mint ERC-20 tokens for any form of social content (like music videos, memes, and others), the socialFi network has increased accessibility of digital ownership. Each tokenized content generates a constant 1% compensation for the creator on Zora. This monetary system is supported by the platform while liquidity is activated through UniSwap V4 pools. This mechanism has generated momentum as more users are attracted by creators’ posts, as a result, accelerates increased trading volumes.
Since mid-last month, Zora has registered more than 1.6 million tokens minted on the platform, with $473 million in trading volume, and $3.5 million rewarded to creators. Zora’s native token, ZORA, rose 447% a week after its launch in the Base network. These impressive figures highlight a paradigm shift in how users value digital content.
Why Base Surpasses Solana?
Despite the shift, Solana continues to remain a rapid processing speed, cost-efficient network for DeFi assets and digital collectibles (NFTs). However, Base’s integration into the Ethereum ecosystem and Coinbase’s trading platform gives it an advantage in terms of token creation. By decreasing fees to less than $0.50 per mint and drawing liquidity from Ethereum, Zora has become a preferred platform for token launches. Its socialFi model is designed to remove barriers to entry to token creation and power a simplified user experience.
