Base has become Ethereum’s top layer two (L2) in various statistics and base projects now have access to Onchain Startup Capital on Echo.
Echo houses the new basic ecosystem group of Coinbase Ventures to expand the development of crypto
Projects that build on the largest L2 network base in Ethereum now have access to the early startup capital via the ECHO platform thanks to the newly created Basic Ecosystem group announced by Coinbase Ventures on Thursday.
Crypto thought leader Jordan Fish, better known as ‘Cobie’, launched Echo in March 2024 with the aim of democratizing an early stage onchain investing. Token launches are notorious to give exclusive venture capitalist (VCS) exclusive early access, so that the aforementioned VCs can then make obscene profit on the back of unsuspecting retail investors.
(Jordan “Cobie” Fish / Monzo.com)
Meltem Demirors, general partner at Crucible Capital, called this phenomenon, “the sh*tcoin -waterfall” after having witnessed the Inital Coin Offer (ICO) Frenzy 2017. “All ‘Smart Money’ or privileged insiders will have access to these tokens with huge discounts,” Legde Demirors, “Legde Demirors,” Legde Demirors, “Legde Demirors,” Legde Demirors, “Legde Demirors and Legde Demirors,” Legde Demirors ” Then there is this enormous waterfall, where it increasingly dumps downstream and earning a lot of money while the retail trade loses, “she added.
(Crypto VC Meltem Demirors came up with the term “shitcoin -waterfall” after witnessing the ICO -Rage / Meltem Demirors 2017 on medium)
And now with a more transparent Onchain fundraising platform such as ECHO, Coinbase Ventures’ debut of the Base Ecosystem Group hopes to enable members of the community and actual users to invest and support and support their favorite crypto startups.
“Just like us, Echo believes in democratization of access to investing, so that more people can support startups,” Coinbase ventures posted on X. “Access must be wider, capital should be more dynamic, investing should be for more than a small club of insiders.”
It should be noted that investing in Echo is still only available for accredited and qualified investors. But even then that is a much larger cohort than the small exclusive pool of crypto VCs.