Spindl is building on Base
Why we think Coinbase's L2 is a big deal
Today, Base mainnet is open for everyone. This is a big, big deal for those who think ‘onchain is the new online.’
This is more than the launch of another chain in a crypto world that has (too) many. Base, incubated by Coinbase, aims to offer Web 3 builders something unique: integrations with Coinbase products, ability to serve users in the Coinbase ecosystem, and finally, a low-fee L2 environment built on the open-source OP stack. It aims to provide developers with a robust platform to (finally) drive breakout Web 3 consumer growth for any dapp. We predict Base will succeed as the new place to build everything from defi to gaming, and will be focusing, along with many other builders, on Base during ‘Onchain Summer’.
What small but important role does Spindl play in this new drama?
When we set out to build Spindl as Web 3’s first real attribution platform, we assumed that (as in Web 2) our principal clients would be developers and advertisers figuring out where users came from and how long they stuck around. In other words, it would be builders looking ‘up funnel’ from the bottom of the funnel, where monetization really happens (which just so happens to be onchain).
As an example of that core use case (and a way to dip our toe in Base), we did a gaming case study with ThirdWeb deployed on Base testnet. This is the canonical Spindl measurement use case: ingesting onchain data, we can visualize user dynamics, like cohort retention, with (near) zero integration on the developer’s part.
After dozens of project onboardings and client integrations, we’ve found that Spindl users actually run the gamut from chains, to wallets, to NFT aggregators, to DEXes to onchain games. Everyone wants a seamless and unified user funnel. That’s true whether it’s a DeFi or NFT aggregator looking down-funnel at which trades users made or NFTs they bought, or up-funnel at which quests drove real user engagement for an options protocol.
Take this (unpublished) case study we did on Coinbase Quests: aside from the usual monetization measurement, we looked at the chain impact of running quests. The audience for measurement in a convoluted tangle of players like in the Base ecosystem includes everything from quest publisher to wallet to dapp to chain…and Spindl measurement can inform all of them.
The launch of Base is an onchain measurement nerd’s delight: we’ll have a slew of case studies and dashboards emerge over the next few weeks as we help Base builders scale their dapps, figuring out what works and what doesn’t. We plan on counting each and every new Base user.
If you’d like to discuss how Spindl can help you measure your growth and user acquisition on Base, let’s talk.
To follow along as we measure a billion users going onchain: