Send

Send

Send | Published March 3, 2024

Website Link: https://send.it/

Send is a stablecoin payments platform built on Base.

As mentioned, we are currently looking for investment opportunities on Base:

  • The Ethereum Dencun upgrade should greatly reduce gas fees on layer 2s like Base
  • If Coinbase wins their trial with the SEC and we get legal clarity on crypto/securities laws there is a small chance they could launch a $BASE token
  • We expect Coinbase will support successful Base projects with Coinbase listings.

Send is going after the stablecoin payments market in 3 areas:

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Send App - A mobile app for sending, receiving, and paying with USDC (think Cash app or Venmo)

Send Pay - Easily integratable payment API designed for seamless use in both e-commerce and retail environments

Send.it - A platform for online stores, offering secure and flexible stablecoin payment processing

We expect the stablecoin payments market to be massive and eventually replace traditional payment processors like Stripe. Visa for example, is already experimenting with Solana based payment processing: https://usa.visa.com/solutions/crypto/deep-dive-on-solana.html

…and Sphere Labs recently raised a $2.8M seed round to build stablecoin payment processing infrastructure on Solana.

The Send token is currently trading at a $25M FDV, and a $6M market cap.

While Send in it’s current state is far from the most impressive project in the world, we think that it has a lot of potential to run if we continue to see strong Base inflows.

Send has a referral program and rewards program where you can earn airdropped tokens by participating. Here are the details from their documentation: https://info.send.it/send-token/distributions

You can purchase $SEND tokens by bridging ETH to Base from the official Base bridge (https://bridge.base.org/) then using Uniswap on Base to purchase $SEND.

Contract Address: 0x3f14920c99beb920afa163031c4e47a3e03b3e4a).