Base still has a chance to come back. The answer is Appcoins (ICM 2.0). but only if it fixes one thing: how capital shows up after launch. If not, nothing else matters. Let me start with the problem: No one is bidding projects after they launch (lack of day-2+ net inflow). Different ecosystems, same outcome. In the last 3 months, only one @clanker launch is >$1M, and only 3 crossed ATH >$1M. @district-xyz launches are only down - this fits the ICO thesis more than ICM. @virtualsprotocol.eth rarely produce launches worth attention (maybe 1–2 per month). @zora is no longer the place to launch apps due to sentiment. And most apps that launched before are down badly. last year, BNB was far behind Base in trench volume. now, most graduated shitters do more volume than a legit founder launching via Clanker and getting ~$200k in 10h. If Base wants to attract builders, speculative capital has to be here. Think about the Base app as a tool to launch and distribute crypto startups. All metrics are public. Tagging @rish since Farcaster is doubling down on appcoins. The playbook is clear: 1. Have strong fundamentals for the product/narrative (gather feedback privately from degens) 2. Study and solve ICM 1.0 problems 3. Find unique, strong projects/founders and send a few projects in the first 2 weeks to $10M+ (yes, I said send — exactly what CZ/FourMeme + Sol/Pump did sometimes) 4. Make retail meaningfully win from small size via the Base app, then promote it 5. For every $10M+ runner, Sol/BSC degens will come back to bid - partner with the right traders from other chains Include tooling for builders to report, stream, govern, and distribute rewards - anything that could improve community engagement. There aren’t many asset types left for traders to bid on. Memes and attention are already taken by other chains. Startups/appcoins might be the last real chance for Base. I’ve been on Base for 2 years. It’s frustrating to see it lose momentum after we’ve invested 7 months building on a chain that may not help us find PMF. I am not giving up and want Base to thrive, and I’ll bring all my creativity to help traders benefit with our product.