Maverick Protocol has launched a new platform called goose.run on Coinbase's Base network, aiming to integrate decentralized finance (DeFi) with the memecoin market.
The launch of goose.run highlights the growing interest in memecoins as a viable asset class in the cryptocurrency ecosystem. The Base network has become the largest Ethereum layer-2 network by total value locked (TVL), with nearly $4 billion locked in early December. This TVL demonstrates the network's importance in DeFi and its potential to support innovative financial products.
Goose.run operates differently from traditional DeFi lending platforms like Aave. Instead of facilitating a two-sided market, the platform uses the pool itself as the counterparty for borrowing, allowing for immediate lending and borrowing capabilities. This feature enables users to take leveraged long positions on memecoins. Goose.run also plans to incorporate video broadcasting features to enhance user engagement and stimulate interest in new memecoins.
Memecoins have gained traction as a legitimate asset class, with a market capitalization of over $128 billion. Institutional holdings of memecoins have increased by over 220% since the beginning of the year, indicating growing recognition of their potential beyond speculation. Memecoins contribute to the vibrancy of the cryptocurrency market, driving engagement and participation among users. Platforms like Pump.fun have generated significant revenue, but face challenges in maintaining user engagement and regulatory compliance.
The integration of DeFi functionalities with memecoins presents new opportunities for investors and developers. Goose.run's launch on the Base network aims to attract a diverse range of users by enabling lending and borrowing against memecoins. The involvement of institutional investors further supports the potential for memecoins to become a mainstream asset class. Platforms like goose.run will play a crucial role in shaping the future of memecoins and their integration into the decentralized finance sector.