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Base creator Jesse Pollak steps back after admitting wrong social bet
Data cited by Cointelegraph shows Base-native prediction market Limitless and Base perps have lagged peers by notional volume in July.
Base creator Jesse Pollak is stepping back from leadership of the Base App after admitting he was wrong to bet that social experiences would drive crypto adoption, Cointelegraph reports. He said the shift left the Base ecosystem trailing in both prediction markets and perpetual futures.
Cointelegraph cites Dune Analytics data showing Base-native prediction market Limitless accounted for just 0.5% of total monthly notional volume across prediction markets in July. It also points to DefiLlama data indicating perpetual DEX Avantis ranked 18th by reported 30-day notional trading volume.
Pollak said he will return leadership of the Base App to Coinbase, under Jordan Fish, known on X as “Cobie,” while he focuses on the Base blockchain. Cointelegraph notes his comments come after Coinbase CEO Brian Armstrong said content coins “didn’t work,” prompting a pivot earlier this year.
Cointelegraph adds that Base sunset its Creator Rewards program and Farcaster-powered social feed in February as part of a strategic shift toward tradable assets. The outlet also says Pollak discussed a move toward financial applications, including trading, payments, and AI agents, and that Base activated its B20 token standard on mainnet last week.