we only need it for this one shot don't worry adrienne
gm everyone so in case you didn't know from the purple hats it's haberdashery day so today we are sponsored by the fabulous haberdashery degen dawufi and so we thought we'd dress appropriately for the moment and thank you haberdashery we love you we're gonna have we have a big day we have a big day happening in general we there's a lot happening base app base coinbase we don't know exactly what but we have suspicions and i'm really excited we are gonna have anika here product lead from base chain and she'll be talking about none of that but it'll still be related and interesting
so like
i invited her to come on so like a few weeks ago met her at devconnect and i was like oh you're amazing and we need to get you on gm farcaster so we're emailing about dates i finally get it and then all of a sudden it occurred to me i'm like wait we're getting her on december 17
december 17
yeah that's great she can't say anything but anyway we're gonna get rolling right now and we'll be back on the other side of this hold on if i can find it on the other side of this forty seconds
welcome to gm farcaster bringing you everything from breaking news to spicy memes to the deep lore shaping this vibrant digital community more than just a show gm farcaster is your digital third space where the community connects the stories unfold and the culture thrives whether you're a daily caster or just dropping by we've got the latest buzz to keep you plugged in so grab your coffee and let's dive in with your hosts nounish prof and adrienne for another episode of g m farcaster
g m farcaster it is wednesday december 17 of course i knew that you are here with nounish prof and and adrienne for twenty nine minutes of farcaster news to start your day farcaster and base app news to start your day followed by a chat with anika from from base the product lead for the base chain so i am getting this tweeted out if you are watching with us now retweet recast tell your friends you know throw it in a telegram throw it in a discord big day have them get in here just sending this out
it's true
it's true you can just hang all you have to do is hang there's no work needed this is perfect time to catch up with us this week it's perfect
there is a system update coming
we are not breaking any news because we have no news to break but we are gonna be talking about it yeah in general i'm still trying to get things tweeted out to make sure people know we are live
if we were better media people we would not answer that question we would lead you to believe we might break it
yeah
but and then not do it and just be like sorry
but we're way too honest and this is why we're also poor anyway or i am wait
richard love richard love oh let me do this i just wanted to share so you guys could see the very very cute little pfps with our hats on and i do love the haberdashery as a branding sponsor is fantastic i have to say it really is it is the most fun of the sponsors we've had so we enjoy the hats
that's true you're right you're right that was
it fun yes something we can play with we we're looking for rubik's if you're out there whatever you know yes we're rubik's arcade comeback we need fun things
it's like ruby i didn't think of anything don't think i'm okay let's let's get into it we've got some forecaster and builder news to jump into before we jump into all things base this is from dwr p s a we're going to start displaying content coins from base app casts on the farcaster app we don't have plans to add coining from the farcaster app but the coins are already attached to the cast as embeds at the protocol level so just to kinda clarify what this means for those who may not understand so the base app that is still in beta for i don't know another six hours or so we don't know could be maybe could be
yeah it's true i could be completely wrong so they you can coin your posts on there meaning that you can flip a little switch and every time you upload your casts what we call them over on farcaster you can also set it to be collected as a coin as a token so for now farcaster the client does not have that on their side we have the collect the cast as a collectible nft but not the coining but you now will see that information on the cast if it's coming from base app so that you can more easily trade it is the reason so it makes it easy to just click on and be able to trade the coin so there you go
yes coolest part about this is you know that the farcaster developers did not have to have to have a single meeting with the base developers to get this working
this is true all permissionless all permissionless and d w r has some advice here if you'd like to mute it's dollar sign all coins slash tokens or zora coin specifically base app content coins remember you won't see any cast from people on the base app then assuming they are coining content to be clear not recommending people mute just informing but just informing people they have the ability to so if there's one particular coin that's popping off and you're just like i can't i can't with this you can do that you can just coin that you can just mute that or you can mute people you can mute larger coin you know if you don't wanna see any you can do that as well so there you go all in your hands but probably you wanna ask
he's oh yeah oh yeah
you have options that's not i was like what
barcaster what are you talking about
i don't hate barcaster i'm saying people get upset when yeah they don't like they're seeing content they don't wanna see
but right so so we want to make sure you have all the fun that you can have by the way how can i mute all of them but soulja boyz ones that's funny i think that might need a might might need a very custom script
build your own client it's soldier boy only this from dwr clanker update presales tldr we're pausing future presales for now and working on a new clanker launch feature it will take a couple of months to build we'll work with interested teams to get feedback and iterate on the design before it goes live and then this kinda gives a little bit of background a couple of weeks ago the house team ran a clanker presale this is the first one using the v four presale functionality which is currently gated the presale sold out immediately before we had a chance to announce it in the app while the team hit their presale goal only a few people were able to participate this was bad yes was especially since we preannounced it and many people in farcaster wanted to participate that's on us we should have required an allow list but even with an allow list there were still issues with the existing mechanism the mechanism rewards speed to buy not long term alignment two there's no built in price discovery the team picks a percentage sold and an eth amount creating an implicit market cap this can lead to over or underestimation so in other words it's not finding it's not finding the price there's no price discovery there three presale proceeds do not contribute to the token's liquidity at launch for the existing pre sale mechanism does not allow for cancellation or refunds so we're going back to the drawing board with three goals a a broad and fair distribution b trading starts with deep liquidity at a market cap determined through price discovery and c aligned economics between teams and holders so alright this is exciting hopefully they're looking at phase mechanic as one of those like it's good it's actually very good so and thinking in those terms and see what else they come up with because crack devs on the case so there we go for what it's worth probably would have been a good idea to do this before you did the first one but action provides information as brian armstrong likes to say so we now have information that didn't work now we move on alright this from horsefacts just acquired 493 clanker in our first automated fee swap we'll be moving from infrequent manual purchases to regular automated swaps this smooths out fee collection and purchases over time expect to see fewer big spikes from lp fees on the dune dashboard and treasury balance go up more continuously also by the way hilarious because didn't we just announce on monday that they were putting this on the back burner because it wasn't a priority
i swear it was yesterday it's like like i i'm pretty sure monday but last week warpie warpie can you go back and look at when i said that this wasn't gonna happen anytime soon it was either it was like literally either friday or monday it was very the history right the history was week one it's manual but we're gonna automate it soon
right
week two manual we're gonna automate it soon week three manual we're gonna automate it soon i think it was week four it's gonna be manual for a long time
not at all was last week or something it was like it's gonna it's gonna take us a while it's not a priority this is working fine and then all of a sudden here it is it's automated you go
very well done it's just funny i'm like okay alright i was like i that's why we need to be told everybody that this wasn't gonna happen
exactly this from horsefacts we swept the storage registry balance on optimism and reconfigured usdc fees for pro and collectibles to send directly to our vault instead of an intermediate wallet we'll do clanker transactions tomorrow link's below so that's cool to see as well they're trying to automate all these different things or just create better flows for
of stuff and what's really cool is that they tell you about it
so thanks for the transparency and then this from linda this was great this was on on monday clanker lp management one zero one livestream with we covered topics lp fundamentals strategies and trade offs common lp mistakes starting market cap sniper tax mechanics clanker lp position simulator walk through of adding and removing liquidity and this was really really helpful especially if you're not familiar with like liquidity pools and how these things work and mistakes and things like that so go check this out if you are interested like this was really really useful might be something i was like okay i need professor moon poppy to come into class talk to the kids because it was really really well done so there you go look for more okay so let me show this first because it won't make sense so when you now invite friends to farcaster it does say earn 20% of fees when someone you refer trades on farcaster rewards can be claimed immediately in usd to your wallet give your friends an additional 20% off when they join using your referral code this applies to trades made within the farcaster app so this has been i think around for a while but maybe it wasn't on the referral link i'm not sure
so i'm not sure what what how this all of a sudden popped up because i thought this was the way it was for a bit already and in terms of like giving your friends like an additional 20% off that was kind of on hold for november because it was a no fee november anyway so it didn't didn't really matter and also the the 20 like that 20% of fees goes backwards as well so if you've referred somebody and they all of a sudden start using it i believe that was my understanding on that so this was from derek and there was a lot of discussion around this so this is the i think the only one i pulled though the fee based incentive for inviting friends to farcaster just isn't interesting to me one as a user i'm not responsible for fc's funnel from new user to transacting users so why would i be excited about an incentive that requires that funnel to be effective two i have no idea where my friends are financially and what they want out of crypto it's a weird ask three fees are a loss leader for farcaster see no fee november so this incentive is not that interesting from a financial perspective if f c means invite friends to farcaster then the incentive needs to line up reward me with a spot bonus if they've casted a number of times or if they've transacted once or if they've re they're retained after seven fourteen thirty days not fee based work out an ltv for a retained user and then give me a fixed rate against that is that a dollar per user $5.10 if f c means invite traders to farcaster then that's at least consistent but the problems with the model becomes apparent there's a small finite number of traders and the ones i know already are already on f c it might be a great pmf strategy but it's not a good growth strategy so there you go for what it's worth alright i do think that there's some good ideas in here in terms of spot bonuses and and i don't know just a different approach that feels a little bit less yucky i guess is the technical term alright in the big news of the week big big news
huge it's huge it's huge news the the top the new leaderboard came out also this is really funny the screenshot does not include me that's hilarious over eight it's missing the top two i'm gonna have to go grab mine talked over donations over $800 in peoples is now available to claim for last week's top 50 creators on the quotient leaderboard creators who held at least 100 donut received a two x boost big thanks to sell seltorius.eth and peoples for sponsoring next week's sponsor is ink oinc dot eth i don't know how
oink has who has provided $1,500 in oink for the top 60 creators we'll update the leaderboard for this week after giving folks some time to review last week's results and i clearly have to find a different screenshot please hold there's one on mine so i'll grab that really fast but it was a big week and normally adrienne i would agree with you that your rank on a leaderboard is not your worth except this week it is that's only for the people
hi no problem live by the live by the ranking die by the ranking don't come crying to me when you fall
there's zero chance this is ever happening again ever but it happened this week so there we go i was i was number one on the leaderboard first time ever last time ever but yes thank you thank you and the reason is linda took the weekend off the only reason and burtworst and say angel didn't drop pets till late sunday night these are the reasons that i managed to hold on but yeah that was kinda fun yes and i get it i get it henry i get it
for the time
he needs to update here i don't know what happened here we can we don't have this little this little p f e yeah so the new leaderboard we had now we had me linda horsefacts fartwor moon poppy pugson sangel and trumpety and i forget who the other two were on the top 10 but it was a nice lead award i like the new one alright anyways moving on not your worth yada yada but fun and i'll never see it again so that was fun moving on this from dan good overview of what we've done to support clanker ecosystem projects recently from tldr one burned accumulated native token fees two redirected ongoing native token fees to creators highlighting teams through a variety of channels so that's the clanker spotlight and the clankcaster spotlight and also what linda's been doing highlighting so and tim had written a really great tweet about clanker as an anti extractor and very cool so thanks for that tim alright moving on we've got some builder news this from rachelw applications are now open for the creatorfi accelerator thanks to a generous grant from base participation is funded for our first 100 creators so january fourteenth to sixteenth it's three days of learning building and growing alongside creators who show up and support each other create own earn socialify starts here so if you are interested go to rachelw's or rachelwolkins over on twitter either one of those and go apply and i think it's they've already had like 90 applications as of like day one so get in there quickly because it is gonna fill up pretty fast and you'll see it right in her thread the application is there so go check that out and i don't even i don't i don't really know what this is so i need to preface the whole next thing with this is from borrow dutch d y o r n f a all the things haven't used it don't really know but see a lot of people talking about it and we wanna just mention pigeon trade so this is from farcasteradmin.eakaborrowdutch and just like this i'm happy to present you with the new farcaster client it's not a client pigeon trade c c d w r you can now surf like cast search interact with farcaster users and content anywhere telegram whatsapp facebook messenger x reddit slack discord sms etcetera and you can automate it all which that's very interesting here's how pigeon do this pigeon trade create me an automation to check every fifteen minutes if i got new likes to any of my farcaster cast published in the last eight hours then like the newest cast if there is one from the users that liked my cast i want users to feel appreciated okay interesting very interesting mechanics here and there's a a response from pigeon trade built it your warpcast signer is completed which is okay warpcast so we can do right actions like automation request created eight one three queued runs every fifteen minutes so interesting and there's and it and it actually attached the docs for you to learn more so okay
be on the lookout pigeon pigeons have intelligence okay do you remember this is deeplore when farcasteradmin i think it was called warpcast admin back then
yes he was yeah
no no from his personal account so there was a time when you would get like you know you'd cast and would like all your life all your casts i don't remember that oh that's funny automated yeah and i love that he's built this in it's like oh i'm gonna make this because people like you know to get that little hit a little bit of a mean hit someone liking your stuff but when we knew it was automated it was annoying it was like okay now you're it's like now it's just a computer doing it you didn't really end
but we're already there in a lot of other ways too with things like amps and influence and it's a little different but it's similar right it's a and surge is the new one so you're also having where people can buy the likes anyway so there's that there's that as well but this is interesting interesting mechanics i'm trying to think of what else we could do with it there's probably things we could do when people mention gm farcaster which could be pretty cool so we'll have to brainstorm but there you go client without a ui yeah i said i know because you know what i immediately dismissed his note about being a client but technically it probably is
yeah
oh has he
every because they're thinking more with bots and
yeah yes everything just becomes kind of agents when you have agents doing everything way you interact with tech is right you know is is going to change so that's his i think it's him
yeah that sounds like him that would make sense and it could or it could be deployer as well interesting alright this also from rachelw
adrienne face there for a minute i use amps and yeah i you know what i get the little dopamine hit from all of a sudden i get a notification from metamask and by the way every time it happens i think of you it'll say you know dollar just add it dollar 50 just and it's amps coming into my metamask it's so funny i see our guests down there in the green room we just got a couple more news items and then we're gonna bring you up this was from rachelw as well i think this is interesting if you want a glimpse of the future watch the hiring marriott valued at 80 to 83,000,000,000 with 196,000,000 loyalty members is hiring a crypto product manager to build stable coin payment rails slowly than all at once but also you don't need to build them we built them already marriott so you do need somebody to advise you though i think that would be a good idea alright i'm trying to just go through and make sure i get
they're oh they absolutely will they'll l two hopefully at least this was disturbing from jake i was a little upset he cast it i don't care if die hard is a christmas movie it is not a good movie and there was some pushback mostly from me i had people tagging me in this so and then so i wanna thank derek for the top nine not christmas christmas movies sponsored by jake's awful take which i thought was great you have children of men die hard gremlins when harry met sally also you know definitely i just watched that last night you should watch everyone should go back and watch that one iron man three invasion usa american psycho edward susan hansen lethal weapon i don't know how american psycho becomes a christmas movie at all in any way shape or form
i don't even remember christmas in there whatsoever but i'm not gonna go back and find out this was from pugson and the only reason i'm sharing this is for the comments in the replies so pugson said christmas really snuck up on me this year i don't like it with a picture of him getting his tree and we have bert worse asking why have you captured a tree he voiced my hand the tree do you need help i need help with the trinkets what trinkets what is happening so bert's not familiar with the the christmas and why there's a tree in the house and hopefully if they have if the assistants have brought in a tree hopefully bert knows he is not to mark that one it's unnecessary no not necessary really quick
sole reason of adding him to the farcaster lore oh you're so sweet i am the real yakuza none of my cast have been mentioned on gm farcaster yet check out this mini app to see if any of your casts have been mentioned on farcaster's number one news show and this is where you can see if you've been mentioned that's why i'm showing it and now i am the real yakuza after we get this loaded up you'll be added so there you go this from purp from the haberdashery first monthly unlock of airdrop has been sent out currently setting everything up to send out first round of engagement rewards going to be working on the math now and set up fee distribution for monthly nft holders fee distribution and sending those out in the next few days so look for your look for your wallets or your warplets and see if you have any rewards waiting for you there alright i gotta pull up some base news really quick and then we will bring our guest up
i have to just open up my links because we have a lot going on today it's very exciting very exciting day adrienne which we're not gonna talk about any of that with our guests so we're gonna talk about it ahead of time because we can't right we're not about it
to talk about it she cannot confirm or deny anything so but there is a it's a big day we've got we've got everyone gathering in san francisco today very exciting for whatever's happening it's not exactly sure what but we we have we have guesses we have guesses by the way this is really funny from from rachel happy basemas eve to all i think everyone's feeling like it's it's feeling a little christmassy by the way i i love my i don't know if you can see my background but these are the christmas sweater prototypes they had some christmas sweaters at the surge i don't know if they're actually sweaters but they look like them like ugly christmas sweaters and
an aneri was was posting them and i love them so i want one the base if you're listening to me sarah and aneri can you make these available for sale would buy so this is what's happening today it's a system update happening today from base coinbase system coinbase i should say coinbase system update incoming exciting product announcements key business updates lots of other cool stuff new era of coinbase is beginning december 17 2pm pacific time live on x so it's 5pm eastern make sure you're watching over there and i'm sure there will be recordings after the fact so very exciting and then this was hold on let me see if i can get it this was the sweater weather that's what's behind me and all the different versions before that aneri has landed in in san francisco and there's actual like stuff on the walls irl this is this is big
this is really this on monday like the like the posters and the and how the value now it's you know you can you do something irl but you put it on the internet and more people
see crazy right yeah i mean that's them
in my town coinbase is not plastering my town not plastering your town right now no worries
i've seen it when they when they were in art basel a couple years ago i remember seeing base everything like plastered around town and it looked amazing last thing from base before we bring up our guest who i hope can talk a little bit about this this was the base solana bridge it went live last week enabling the seamless transfer of assets between both chains our team wrote a technical deep dive on why we built the bridge architecture and design choices roadmap for future improvements and decentralization so there is a blog this link will be in our show notes so you can learn more from the technical side of that and on that note let's bring anika up to the stage gm welcome
good how are you doing
happy wednesday adrienne so i'm gonna let you kick us off because you met anika at devconnect yes
okay so anika and i met at devconnect at the base build her brunch that i learned anika that you hosted i had been at the one at farcon venice which may have been the first one
i think it was the first one
yeah yeah there there been several since then but yeah it's it's always like one of my favorite events of any conference
yes at the which was i think at the one year anniversary of launching where we we heard all the war at the first base
camp yeah
at the first base camp what i was saying and we are hearing all the lore and all the pictures of when base chain
yeah with the launch
you know with the launch and with its source block and then now you're a product lead for basechain so you wanna just start there and either
oh yeah no i i feel like the whole journey you know you can always tell it after the fact in like a more cohesive way but it's definitely always a roundabout journey so yeah when i had gotten involved in base first i've been at coinbase for a few years already working more on like the key management side of things and as a developer on on that and also had dabbled in smart contracts and i had yeah joined a a team that was kind of a a tiger team focused on how do we like bring the world on chain how do we bring coinbase on chain and yeah we had played around like for several months with a bunch of ideas and and iterated really quickly had a lot of good ideas but also eventually we shut that down and part of the reason was that we didn't we basically didn't have the proper infrastructure or muscle for how to actually deploy those projects and the biggest issue actually was that it was just too expensive and so when we thought about bringing the world on chain you know we need to have like sub sub second sub cent fees to do that and at the time this was in like 2021 2022 ethereum was way too expensive and even l twos were too expensive so
can we just pause there for a minute 2022 wasn't that long ago like it's amazing like how i mean it and it seems like so long ago that yeah you could do transaction like you'd have a big nft mint and your gas fee was could be in the hundreds or thousands of dollars like insane we got really crazy demand what's that
but no hundreds hundreds i had i had times where it was hundreds and you would just cancel a transaction and wait and that was when you know especially if you're just trying to vote on a daw proposal like that's how i know
just like this is not you can't do this like this is not sustainable so yeah i get totally get i think a lot of us experience that that pain point for sure
yeah sometimes you couldn't even cancel it because you had no idea when the fees would come down so you would just be at this like $80 fee and you're like it could go to a 100 so maybe i'll just pay it yeah
that happened a lot yeah
so yeah definitely a different world but i think we had you know like somewhat ruled out ethereum because it was way too expensive but even the fact that layer twos were still like on average 10 to 20¢ per transaction like there's just no way that that could actually be sustainable for bringing a billion people on chain so while we kind of shut down that effort for a time we a group of five of us continued to focus on like what is the the core platform that we can build that can bring both coinbase and the world on chain and we focus on efforts like eip four eight four four which is essentially to reduce l l two transaction fees by introducing a new data type called blobs and we also collaborated with optimism on that at the time and so that's kind of where where the partnership began and we when thinking about the platform that's when we started thinking about actually having our own platform that then could become the default place for for coinbase to start deploying more products and become more of an on chain company so yeah a lot a lot has happened since then but that was kind of the initial story and after we launched i ultimately pivoted into product and that's kind of where we are today
so you were there when they launched space chain at at the camp yes
we're now
it it was a super cool experience like there there was no external people there it was just our team it was also very scrappy and i i really liked that about like the early days of base and and continues to be the case but like half over half the team at the time they weren't even full time on base they were just you know doing their full day jobs and then volunteering their time to to wow work on base because they're so passionate about it like our entire front end team like the whole website base website was just built by people who were doing this after hours and so that kinda tells you a bit about what it looked like but yeah we all went to the middle of the woods in idlewild and set up a starlink and and yeah launched base then
it's i i still love that part had to set up starlink to make sure it was actually gonna go because you're in
woods on a mountain
question about how when you say kind of base chain and now you're talking about you know when you talk about the front end and kind of the base i don't know if they what is it is it base.org
yeah i think so
or so yeah what what i specialize in right now is the core protocol so basically like scaling decentralization like faster like flash blocks was something that my team worked on so really the core protocol and i think the the biggest focus for me at the moment is like figuring out our scaling road map for the next year or two because we want to continue being more and more ambitious with that and and kind of tying back to bringing the world on chain i think we've always thought about that as like a very core part of of like lowering fees bring enabling new use cases and new people to come on chain and similarly with decentralization that's like a very core part of that
yeah can you talk a little bit about then scaling like how either from like high level engineering perspective of like what what is involved in scaling a chain an l two how you think about it any stories from the past i mean we've kind of seen from the beginning like there have been a few moments i know where where there's been like peaks or or spikes in usage and and then you see kind of gas fees sometimes go up on base chain so just like how do you think about that where you're at where you're going
yeah definitely we have a lot of kind of history there but it's all been in the last like year and a half so on the passage of time it's kind of funny to think about everything that's happened but
way back way back to 2023
exactly yeah so so how we scale basically what we define as scaling for base is increasing the overall amount of throughput that can exist on the chain and and the overall capacity that the chain has and so say you filled a block with a 100 usdc sends we wanna get that to a thousand and then 10,000 and basically continue increasing that and so as we scale we we also i guess the original reason that we scaled was we were seeing high fees on base and we thought okay there's a lot of congestion what if we increase like if we're going on a highway and there's two lanes like let's add a third lane and see what happens so that's what we did and it actually immediately worked like fees were reduced and so we thought like why don't we keep doing this so we basically have continued to scale and set really ambitious north star metrics around like where we want to get to with scaling and we've had a few phases i would say of scaling over the years the first phase was kind of what i described where we were just trying it and figuring it out as we go but not really knowing like what exactly what issues we're going to run into and then there's a phase where we started running into those issues and identifying them and understanding them so these were things like performance of nodes and the amount of state and history growth that nodes store also things like we have fault proofs live when we became stage one decentralized as a chain and those also have performance concerns where we need to make sure that these fault proof games can play out within the seven day window so things like that and one of the biggest of the biggest bottlenecks that we've worked really closely with the entire ecosystem on is layer one data availability which is similar to what i described which is basically the blobs that i described before and that is essentially a shared resource amongst all layer twos where we are posting data to the l one to inherit the security of ethereum and we have limited space that we can actually post that data and so all the l twos are kind of sharing that and when we get to this saturated place where all of the data is being used then it becomes a zero sum game with other l twos and we don't want that to happen like we want it to be a positive sum collaborative game so those are all the things that
so where are we in terms of that like how much are we taking up of the blobs like where are we percentage wise for that
yeah so so base last time i checked it takes about like 30 to 40% of the blob space so still bigger but we've had a lot of huge wins in the past few months so about halfway through this year the amount of blobs were doubled and that was in the the petra hard fork and then mhmm just landed a few weeks ago and that basically deployed the infrastructure for a much bigger change called pure dos which essentially allows us to increase blobs significantly more and so because it was a pretty complicated change the the code went live without any sort of increase of blobs but now they're doing basically mini hard forks which are called the blob perimeter only hard forks and each of those will increase blobs so we just had the first one land last week which took the blobs from six to 10 and then we're going to continue seeing those on maybe a a monthly basis or so so this was all like the work of you know folks on on my team but also a very collaborative effort across the ecosystem to really advocate for this layer one data availability and focus on on scaling the entire ethereum ecosystem and so it's it's been cool to see all the teams come together with that shared goal and also just see the the ecosystem really focus on scaling as like a a primary goal so so yeah and and then kind of back to scaling where we are now we we had that period of basically identifying all these bottlenecks and working towards them i would say now we're in the phase where we have active projects that are working active or complete projects that are working towards all of these bottlenecks and and feel pretty strongly that we can get to our scaling goals and we we at the same time are starting to think about like as we scale it's not just pure amount of capacity that exists on the chain we also want to make sure that there's quality usage and we're making the most of the block space that we do have so we have some efforts there to kind of think about how do we like incentivize the you know the most quality behavior and the most quality usage of the chain
what's if you don't mind anika what's like an example of how you like what's an example of something that you would say this is quality that you'd wanna see more of
yeah i think it's it's generally like any activity that people are doing i would say there's two callouts one is when when the fees are really cheap on base then we've historically seen across all l twos that this happens where there's basically incentivization to just do more like spammy behavior so this is kind of like bots and activity that is not really you know like real people doing real transactions
yeah and that that's just because the fees are so cheap that basically you can you can do anything you or you're almost like incentivized to fill the space so so one thing we just had go live a few weeks ago was minimum base fee which basically puts like a lower cap on kind of how low the fees can get and so we think that will actually pretty much remove this issue of spam in those cases
must be tough to like determine what's a good bot and what's a bad bot you know what i mean like the what's a spammy bot and what's bankr or you know what i mean something that's a bot that's an agent that's designed to help people do transactions so how are you sort of filtering for that
it's a good question we like are always learning more and more about the activity on chain it's kind of like as a fully open sourced like in in the crypto world you don't always know what's happening and so yeah more and more insight into the type of types of activity that happen and basically how we should respond to those but it's a constant learning experience and with the minimum base fee for example we are trying to target that it's it's not impacting more than like 5% of traffic and we expect that the the cheapest 5% of traffic is is spammy because we've seen we've seen numbers and studies that show that it's probably even higher than that but ultimately we would kind of assume that real users if they're experiencing getting filtered out for some reason they would adapt whereas like maybe the bots would say oh we i actually don't care about doing this behavior anymore because at the the point it's at and at the point we're trying to set it to like it shouldn't be really distinguishable to a user like it's the difference between one thousandth of a cent versus one ten thousandth of a cent or something like that right you know a real user would probably
just say more like a volume thing where it becomes a problem so if you're a spammy bot that does you know something every second or whatever then it's gonna add up and and sort of hopefully prevent hopefully make it not worthwhile anymore
that makes sense yeah
the actual issue with spam too or one of one of the issues is that it oftentimes is kind of an inefficient use of resources and when i say resources it's like computational resources and so basically the amount that is being paid for gas is not actually reflective of the amount of computation it's taking to execute that transaction by the user and by the nodes and so it is kind of in some cases harmful to the chain for for that behavior to exist and so that's kind of the reason we want to actually address it and that's kind of that that whole work stream is is generally focused on incentivizing like developers and usage to be basically more like sustainable for the chain
awesome adrienne what other questions do you have oh i wanted to ask about the solana bridge and i don't know i'm sure that wasn't necessarily your purview but how how did that all come together is everything working as intended like if you can just kinda touch on that a little bit
yeah so how it actually came together we have wanted to we we've always had this concept of base being a bridge not an island and when thinking about that we we explored a bunch of different options for how to like better interop with other chains and ultimately with other like ethereum even like ethereum ecosystem chains there are a variety of third party bridges that we've seen users are pretty comfortable using and the bigger the bigger pain point i would say was like cross ecosystem yeah basically ecosystem bridging like specifically solana being top of the list and so that was kind of the original rationale for focusing on a base solana bridge is really like enabling this new use case and yeah from what i've seen things have gone very smoothly so far and yeah so i'm excited to see i guess
i was gonna i i yeah i guess we touched scaling i know you'd hosted a scaling summit last week
it was awesome we this was kind of like the 1.5 of the scaling summit there was like a very small one we had last year which was really just a few teams who had been thinking about scaling at the time so like a broad reflection is just a lot of gratitude that the whole ecosystem seems to have like started thinking about scaling a lot more than in in the past year or so so we had teams from we had a bunch of other l twos there the ethereum foundation definitely a lot of the client teams like the execution client teams were present as well one big reflection was that it seems like we've all been thinking about the same we've all basically come to the conclusion of like the biggest scaling issues on our own and just all being in a room together we realized that we can compare notes and actually be collaborating even more on these things like i i think there's already some collaboration but that was really cool to to see that we're relatively aligned on like what are the scaling issues and how do we address them so that was one of the coolest takeaways the other one was we on on base we think a lot about being ethereum aligned and we're a little bit nervous to like deviate from ethereum in some instances where for example the one of the biggest scaling issues right now is there are these these op codes which is basically like one of the the units of computation and they're they're mispriced so basically the amount of gas that you're paying this is kinda what i was saying about the the spam behavior where the amount of gas you're paying is not equivalent to the amount of execution process that this is taking and so that actually causes a pretty big scaling bottleneck because we have to be planning for this worst case behavior if someone were to try to dos the chain and fill a block with just like all the worst case op codes like we we have to be prepared for that case so we had a general alignment that this is a problem and we could reprice these op codes but it could that hasn't happened like really in many years in the ethereum world and so there's some there's some anxiety that this will maybe break some tooling or like we don't know what impact this will have across the chain so we've been excited to do this but also nervous to do it ahead of the ethereum like l one and so one but one takeaway from the scaling summit was the the like the ef is actually excited about l twos like experimenting ahead of them because it's kind of like a safer testing ground for some of the bigger changes that might be a little bit scary and so
they're like go ahead go ahead see what you can do see go ahead go ahead you no you go you go first
in a in a good way in a way that i was like excited to hear because i think sometimes we can be a little bit like oh we don't know how people respond to this and so it's good to just talk about it and see like how people react because that was not exactly my like expected reaction from them and honestly it come comes back to like one of the values i i do like about i mean our ecosystem as a whole but like base we've always been like very open sourced and so sometimes when i i'm like not sure how the community will react to this idea it's like let's just put it out there and see what happens and so yeah i think a lot
of action produces information there
yeah and i just i like it sounds like a a really nice collaborative spirit between the l twos and ethereum main net as well as around l twos mhmm that's really interesting
yeah yeah very adrienne anything else you wanted to tackle today
we have monica here any are you in san francisco today for the event or no are you off-site
okay you'll be with us i was like i was just thinking like did we get you i know i was like did we get you up at is it 06:30 yeah so it was my my thought here at like halfway through i'm like is she there in san francisco one of the things i was thinking about when you were talking about like the scaling summit was i'm always impressed at how coinbase taps into remote work and makes that a strong part of their of their team but also sets up these opportunities for the irl you know moments whether it's something like a scaling summit or when they do surge weeks and everybody's you know all hands on deck in one particular office we saw that with the base app team last week i think that's really such a great way to sort of balance all of that without it becoming you know without it becoming inauthentic i guess is the word like it's not just a meeting for a meeting's sake you know this could have been an email kinda situation it's like no you're gonna come here we're gonna actually work and like get the benefit of actually being face to face in in an efficient way so and in a productive way so just yeah and i don't know if that's been your experience like if it's been if you find that helpful or or how that is on your end
yeah no it's great it it's funny because actually prior to the pandemic coinbase was one of the few like crypto companies that was very much an in person company and and and then did a full one eighty and it was the pandemic like we're fully remote also just indefinitely like there's no you know there's we're not gonna go back into person was basically the messaging and it did allow us to hire like a lot of really great talent throughout that period of time
yeah
that talent is truly all over the place like there's no hubs really i mean maybe slightly more people in places like new york and sf but that's probably just you know population distribution but it's it's been a really cool setup yeah my team is all over the place and i do think there's like benefits of being remote first in terms of like productivity and allowing people to you know come from different diverse backgrounds but then having this like once a quarter in person working session to both to kind of create more team cohesion and and get to know each other because that that is harder in a remote environment that was like get stuff done so we also had a in person search last week for the base chain and and we kind of tackled it together with the scaling summit so we had a couple days of scaling summit and then a couple days and you know right now we're really in like the mode of 2026 planning so it was really cool to reflect on like how far we've come this year and also really think about like where we wanna go in the next year
love it adrienne anything else before we let anika go
yeah do you have a hard stop i know i only i told you half hour i'm like do you have to go favorite applications being built on base right now
oh good question
that's a great question i i feel like this is the the thing with the the protocol side of things is you're so busy with doing the i think you don't get so much time to just like
get out of here you have no idea how anyone's using your chain
but i i always love like the the social use cases and i'm i'm not like a a huge trader myself and so it's been cool to see like what what the base app has enabled and and start to see yeah basically the start i feel like it's it's very much just the start where we're kind of seeing these these things pop up where it's just trying to get more engagement and then and then we'll see like basically what is this paving the way for in the future as well
day one
and that's part of like we couldn't have done that on l one like too expensive way too expensive and there's so many things i've been able to do in class because i still also although i do this full time i still have one class that i teach each semester and with base that has been a much more interactive experience because now i can do that like you know even though it's still coming a little bit out of my pocket it's like nothing compared to an l one trying to do anything on the l one which was just especially back in 2022 when i first started teaching the class like it was crazy expensive so there was only so much you could do and now i can really give them a lot of hands on experience to try things out and do things and that's because of all you're doing in the background and making it so much easier i you know just need a lot less resources for them to be able to do a ton of things on chain which is really great appreciate that
old chick so into like crypto it's weird i'm so biased my students think too i'm like you're so cool oh you you muted
yeah and then so you know for christmas might i recommend
a new
i'm gonna upgrade this setup okay i said i was so biased because i also love the social aspects and and it's funny because professor like so much of what we do now it's like i forget there's other use cases beyond social
yeah that's true
and i also forget that everything we're doing is on like how even like blockchain has just been abstracted away so much as well
yeah and more and more every day like with with smart wallets and and embedded wallets
and all these yeah yeah and i never really have to think about the protocol or anything the like you just you take it for granted so anika i'm really glad you spent time with us because i think it's i love getting the full picture to mika's point they said they understood 20% lower than the usual 60 i that's not a dig on your communication it is
not at all on we got a little more technical today so this is for the this is for the the nerd folks this is for our devs we have a ton of devs who watch the show
so and if gotta get homework assignment you need to relisten three times until and then go do follow-up reading also good luck we are we are live on the base app so we have a mini app and dylan got the notification because everything's programmable so we love that maybe we do a quick lightning round of questions
yeah go
because yes to crypto had a good one
yeah i'm not even i like that it didn't require too much explanation
okay these are easy questions there are no wrong answers and this is we like to have fun with our our guests before we let you go okay so on farcaster and base app and any of these social apps we talk a lot about url to irl pipeline where you're meeting people on the internet through shared interests behind pfps that you have no idea you know their their gender age where they live whatnot but then you later become friends in real life so when and how did you make your first internet friend
i think it's it's definitely been through the the crypto world where yeah i i think it was probably the first conference i went to was maybe eth denver like 2020 or no 2021
yeah it was it was early enough in covid where i'm pretty sure there was a vaccine but still everyone got covid but it was like
it still happens
remind me i have a token to send you after the show i have one for the it's a post conference plague token that everybody gets sick and on base and it's on base of course yeah but i think it was
a a friend that we had like worked on like daw stuff together for like several months and then all of a sudden yeah i actually participate in like have participated in governance in the past and we had like a a small team that was based in london and australia and like all over the us and so it was cool to like all get together at a conference and be like oh you are you are real people and now we are all friends
i've had those experience too where you've been like in the in the trenches daw trenches in the daw trenches where you have been discussing proposals and like deep diving and having arguments and all this stuff you've never met them in person and then like meeting them in person it immediately changes those relationships like because you just get them a little bit more you you understand them better so yeah yeah very cool i love it
i'm definitely more i i love mornings and honestly i've i moved to the east coast at the beginning of this year and having like a longer morning before all the notifications start coming in has been very very nice
nice and then do you have to work late then are you working east coast and west coast hours
it depends i i think because of the remote environment it's kind of like oh you work when you know
twenty four seven
yeah i feel i would answer the same small venue concerts i do not like stadiums if you were to write a book what would it be about
i'm currently trying to help my dad write a book about so his i i do love writing in in a past life i don't have much time to do it right now but but yeah i think he's a very he's an inspiration to me
nice when you're done put it on chain and check out alexandria books so slash alexandria yeah what
i have been dreaming about going to japan i know it's like so in right now and it's very basic but of me to want to go to japan but it's like such a beautiful culture and and i think it's so yeah
shut up pichi pichi will take follow p i c h i on base app or farcaster she is constantly posting about japan she travels there a lot and just shares a lot of the culture as well so a lot of stuff that she's always posting about it
oh i love the outdoors i will say i love like hiking and then going back to like a shower so i would probably choose hotel but i feel a little guilty about it
for glimmer i have i have some new i have new questions i'm introducing to our round regular people recognize all these questions but this is a new one karaoke song
i love it i love it
wait where was i who who do we who loves the backstreet boys were we some am i do we have someone who does backstreet or karaoke for these
my cj but i don't know why
yeah i feel like that's it anika if you are at eat denver save the date for saturday we're inviting you to our karaoke brunch amazing and love it okay and this is a classic farcaster question
can't even answer it really
i can't even ask it with a straight face when you're taking a shower which direction do you face towards the shower or away
okay that is the that is the absolute perfect answer to that question i do in my opinion dan and i both agree that that is the correct answer
i think like we can be in a bubble sometimes of like the crypto world and and then you talk to people outside of crypto and they're like what is this so i do think there's a lot of work that we need to do still and i think continuing to keep up the narrative of like what crypto has the power to do and basically how it can become the new infrastructure for the new internet and it's like fairly agnostic right now to what applications can be built on it i think that would be important for a messaging to continue sharing outside of the crypto bubble
perfect last answer amazing thank you anika so much for being with us today by the way this was really funny so wants to merge those yes you know what i wanna ask when you take a shower is the kiwi skin on or on off or on chain and is it sufficiently decentralized
there is no hyphen in on chain by the way there is no hyphen there
chain is decentralized and thank you so much anika we're gonna let you go i have a couple quick things to wrap up here but thank you so much for joining us and adrienne came back from devconnect and was like we gotta have on the show she's great you you gotta meet her so thanks so much for taking the time i know it's gonna be a busy day so thanks so much we appreciate you
to all the coinbasers
yeah or is everything like or has everything been wrapped and ready to go and the office is calm calm and everything
i'm i'm thinking the former but
because you know they're gonna find like and it's gonna be little things like i found a comma that has to move you know
yeah somebody there's an on hyphen chain in here get it
exactly actually we are doing a a gas limit increase today so there's there's stuff going on
alright well we
amazing congratulations thank you so much for being here good luck with everything today and we'll see you we'll see you on chain
unsung heroes yeah
and we we take all of your work for granted and it will never be good enough you will never be fast enough or cheap enough so we need to take a moment to say i'm not saying we i don't see this way prof i'm saying the masses i way
to way to leave lay to leave on a positive
i'm telling you you are perfect no no but i'm just saying the it's it's the expectation right it's like always be zero and you can't be infinitely zero and we really really appreciate it and you guys are awesome and i know i do thank so i'm really happy to have gotten to know you
happy holidays and thank you so much anika
alright thanks so much anika gonna i'm gonna bump you down to the green room
awesome that was awesome so great to chat with her and i needed to i wanted to bring this up we i have yes chin tan coming on with us on friday and so although we couldn't talk about what's happening today with anika we will definitely be talking about what's happening today or what happened it'll be past tense on friday so he'll be here to talk about all the things that are going on today amazing and again one last thank you to the haberdashery we appreciate you thank you so much for sponsoring this episode that was such a good chat it got a little technical but it's a good thing because we have a lot of devs who watch the show one for the devs
one for the devs not just for the devs okay so for anyone who felt like that con okay so for anyone who felt like that conversation went over their head right here's here's it this is my best advice is don't worry about having to understand everything she said you don't need to but just open mind and you're gonna learn something so just absorb it and then the next time you hear someone talking about layer twos protocols a blob source blobs we talked about blobs remember that when that happened
like oh we don't know what this is but the devs are really excited about it the devs are really
excited about it
but the next time you hear about it like it's easier to learn so just like you're gonna learn something some of yeah and it compounds over time be contacted yes
it compounds over time
that is a great point hold on yes he is a lazy lion yeah has been has been from from the the beginning so yeah chin ten with his lazy lion we love the lazy lines alright anything else adrienne i think that's our big so big thing today just look for the base coinbase stream at 5pm apparently only on x which makes me crazy in ways but i don't i can't whatever hopefully we'll start to shift that
dylan is still watching dylan are you there let me know if you need me to spin up a mini app for you and so people can watch on the base app
yeah
let's on the base app or you guys could just you know use one of the many or even i'm just surprised they're not doing it on zora too streaming it to zora as well i would but maybe there's there must be reasons it's a coinbase event it's not a i get it so yeah i get it
i mean
so that's true for now we alright everybody we we'll we'll see you around we'll be back on friday we're gonna be a little later on friday west coast friendly 11:30am eastern with chin tan and i'm excited to chat with him about all the things so we'll start at 11:30 and do our regular news and then at noon he'll be joining us and then we're off for like the rest of the year literally with one potential we might do a pop up but we'll be back on like january 1 no news no news no shows don't do anything please don't make any news so we can just all relax for a little bit but we will have so we'll have a big show on friday come join us then and anything else adrienne before we before i continue to try and make my mini app work and i think i'm about to give up so it works but it sucks so we'll see we'll see if it actually makes it out in the world we'll know by friday i have one other thing i've been working on too one other thing i've been working on that may i may drop tomorrow or friday we'll see we'll see how today goes i kinda don't wanna get in the way i don't wanna drop anything new today so we'll see because we had prediction
yep that would be a good prediction
that would be a good prediction
by the way i think everybody probably already is but follow the gm farcaster account on farcaster because we're posting more clips
yes and on twitter while you're there too
more clips everywhere we also post everything on youtube and the clips all go on to tiktok so follow gm farcaster wherever you are in all the places how our one zero one
one zero one yes it is probably still relevant 60% of it we talk a lot about the technical stuff probably not so relevant because there's change in terms of how to show up on farcaster also doesn't work anymore since no just kidding
it does a lot of it does
it still still still tracks but it's that's the problem with doing stuff like that is it does go out of like it it's out of date very quickly so yeah but cool
i'm glad you found it alright everybody we'll see you on friday and until then bye bye
thanks for joining us for this episode of gm farcaster and thank you to all our partners and supporters bringing this episode to you follow the gm farcaster channel for all the latest updates and add our mini app on farcaster and the base app until next time bye bye