An interesting tweet I cannot find - paraphrased:
"The UNI fee switch will rek wash-trading scammers [on Base] who rely on no fee to own all the liquidity and trade into themselves. The volume charts will look like UNI died overnight"
Looks like that tweet may have some merit. On *base* roughly 46% of activity (tx counts, sell volume (in USD terms)) is from non-verified tokens. (price source: coingecko)
I used @flipsidecrypto FlipsideAI to check how it might look using Flipside's token allowlists.
The allowlists use address quality scoring (complex tx, bridge/CEX usage, multi-sector activity etc.) to identify a "legit" token and flag it as verified.
It's bias is to include most tokens that get even basic engagement from quality addresses.
Curiously the average sell price is almost the same regardless of verified or not (I have a small bias that this is bad and that it should be more different but idk).
Before anyone flags it
"It's bias is to include most tokens that get even basic engagement from quality addresses."
Does NOT mean over 1/2 of tokens should get verified. Here only 20% of tokens are verified. But be honest- can you think of more than 25 tokens on Base lol? 286 is a decent chunk of those that get engagement from high quality addresses.
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