Unchained Why These DeFi Builders Are Betting It All on Coinbase’s L2, Base - Ep. 894
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Aug 29, 2025 
Alex Cutler, co-founder of Aerodrome Finance, and Luke Youngblood, founder of Moonwell Finance, dive into the transformative potential of Coinbase's Layer 2, Base. They discuss how Base could redefine token distribution, making it possible to reach 100M+ users effortlessly. The conversation tackles the sustainability of DeFi, the centrality of exchanges in asset trading, and the complications of liquidity fragmentation. They also speculate on the future of trading sequencing and the need for fairer market practices that enhance speed and user experience.
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Pivoting To Base Early
- Luke moved Moonwell from Polkadot to Base and launched on Base day one to capture Coinbase's distribution opportunity.
- Both projects prioritized being Base‑native early to build organic communities and product leadership.
Lending And Exchanges As Core Rails
- Lending and exchange rails are core infrastructure for an on‑chain GDP migration; protocols in those verticals are strategically vital.
- Building those rails early positions projects to capture long‑term fee and governance share.
Coinbase As Distribution Engine
- Coinbase aims to be the distribution arm for a massive on‑chain economy and can list and distribute millions of tokens at nearzero marginal cost.
- That scale makes Base an unrivaled funnel for projects seeking consumer reach and institutional rails.