Bamboo on Base BAMBOO

What Is BAMBOO?

BAMBOO on Base is one of the many memecoins coming up on the Base layer-2 network. Base is a Coinbase creation that aims for a safe and low-cost way to build Dapps and tokens on-chain.

No information is available on the creators of BAMBOO. However, posts on X using the first person suggest that only one individual is in charge, although the “$BAMBOO Committee” is also referenced when purchasing other memecoins on Base.

Understanding BAMBOO on Base

BAMBOO resides on the Base layer-2 network, a Coinbase creation that aims for a safe and low-cost way to build Dapps and tokens on-chain.

BAMBOO appears to be supporting growth on Base, interacting on its socials with the accounts of other memecoins on Base. Its creator has spoken of an aim to “onboard over 1 million new people to Base”.

Apart from that, BAMBOO is a typical memecoin. It has no obvious utility, its owners claim a long-term and sustainable development roadmap, and operates behind mostly anonymous identities.

What Is the project’s mission?

As with any memecoin, there is no clear mission for BAMBOO except to onboard as many people onto the Base chain as possible.

Currently, in Phase 1 of 4 phases in their development roadmap, BAMBOO claims to have achieved over 1,000 holders and agreed to one commercial partnership.

Perhaps unique to BAMBOO is its “Memecoin portfolio”, a feature where they invest money into several memecoins. Users are polled on X to discover popular memecoins, and based on votes, BAMBOO buys up these memecoins. Presumably, the idea is to further grow memecoin liquidity and demand on Base, with the potential for profit on hopeful exits.

As of 24 July 2024, BAMBOO claims to have set aside $100,000 to “invest” in the memecoin portfolio.

Key events for BAMBOO on Base

On 30 July 2024, the project announced “a strategic partnership with a multi-billion dollar OG crypto entity”

While it’s unclear what this partnership would do, it does hint at the next steps in their roadmap, which include the launch of its first Dapp, marketing campaigns, and further exchange listings – both centralised and decentralised.

BAMBOO tokenomics

BAMBOO on Base has a rather straightforward breakdown of tokenomics. 1 billon tokens have been issued, and the contract has been renounced – meaning to say that no further tokens will ever be issued.

As shown in its roadmap in August 2024, 86% of the supply is locked for one year, with a further 8% in treasury to be slowly released over nine years. “Panda devs”, or the developers, have taken 1% of the total BAMBOO available, while the remaining 5% is provided to Coinbase and Base as liquidity.

Where to buy BAMBOO?

The good news for Coinbase users is that you can buy BAMBOO directly on the Coinbase exchange easily, simply by trading for it. BAMBOO is currently available for exchange on direct market pairs with Ether (ETH) or USD coin (USDC). At Coinbase, simply type BAMBOO when searching for these market pairs and you will be shown these two markets.

If you prefer to do your trading the Web3 way on a decentralised exchange, then Uniswap is currently your best bet. Simply connect to Uniswap with your Web3 wallet and swap directly for BAMBOO. This direct link takes you there.

Note, you will need to have some funds loaded onto Coinbase’s Base network before you can swap on Uniswap. Check the correct contract address is 0x689644B86075ed61C647596862c7403e1c474dbf. 

You can always transfer funds over from Ethereum to Base using a Bridge to Base – this bridge on Orbiter Finance is one way.

As of 1 August 2024, according to the official BAMBOO on Base website, BAMBOO is trading for USD 0.02248 and has 5,501 holders.

An easier way is to simply trade or buy the funds you need on Base via Coinbase itself. You can then withdraw those funds to your Web3 wallet on Base.

Remember, this is not advice to go and get yourself some BAMBOO on Base – despite its promising early signs,we urge you to exercise extreme caution with all memecoins.