I did the analysis, and the main conclusion I can draw is that most of these 'new LPs' have no idea they are LPs and were just interacting with a specific app on Base. Let me explain:

jpn memelord
@jpn_memelord
03-10
Spin up address, add 3 cents of LP, pull 3 cents of LP, move to next address, repeat 10k times per day farming a potential Base airdrop.
I'm going to end up running analysis on this aren't I?
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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