breeze | Yooldo

Today, I attended the @BasedOneX & @EthenaKorea meetup in Korea. The @BasedPalsNFT video at the entrance of the meetup venue was super cute! 🐾 It was clear that the Based team’s achievements over the past 6 months have laid the foundation for remarkable growth. @shu_bit_ from the Based team gave the presentation, covering key updates below. Highlights from the BasedOne Meetup: 1️⃣ BasedMall officially launched 2️⃣ Solana meme coin launchpad & marketplace coming soon 3️⃣ VVIP card with unlimited cashback on the way 💳 4️⃣ Impressive VC lineup revealed soon 5️⃣ TGE to happen after VCs announce & market digests the news I got the distinct impression that the team is still building day and night. They strongly emphasized their strategy to position Based as a "Super App" to drive new user inflows. Personally, I find the launch of BasedMall and the expansion into Solana meme coin trading to be very encouraging. While I didn't get the specific VC details I was most looking forward to today, it gave me time to reflect on valuation. People typically categorize BASED as just a Perp DEX and try to project its FDV based solely on trading volume. However, as the team consistently highlights, they are positioning themselves as a comprehensive Super App (of Hyperliquid). Therefore, I believe it is premature to estimate FDV based on volume alone. With Based Cloud, BasedMall, and Prediction Markets, they are already solidifying their foundation as a Super App. VCs will likely evaluate the project by aggregating the value of all these diverse verticals. That is why the upcoming VC reveal will be the most critical piece of news ahead of the TGE. Despite the market downturn, I wish for Based’s continued steady growth. A heartfelt thank you to the Based team and Ethena Korea team for all their hard work in organizing the meetup.😍😍😍 "Trade Everything, Spend Everywhere"