Coinbase extends request for builders to expand ecosystem via Base Fund
Coinbase’s layer-2 platform, Base, is extending a request for builders to work on a safer DeFi, altcoins, on-chain reputation, and on-chain Limit Order Book(LOB) exchange through its eco-fund.
Bringing expansion to Base
Base recently announced the launch of the Base Ecosystem Fund, a capital pool for investing in early-stage projects building on its rails.
The firm then mentioned that it was considering expanding its space for builders to have more support from its team for further success.
Over the last three weeks, the firm added that there was interest from builders, and they had received several proposals.
On Mar. 23, they announced they were extending requests for builders to work on some critical areas. These areas are flatcoins, Onchain reputation, Onchain Limit Order Book (LOB) Exchange, and safer DeFi.
Coinbase’s L2 blockchain Base said that the eco-fund will extend a Request for Builders to work on these critical areas:
– Flatcoins
– Onchain reputation
– Onchain Limit Order Book (LOB) Exchange
– Safer DeFi
Read more https://t.co/hYcTv8YTdn— Wu Blockchain (@WuBlockchain) March 26, 2023
Coinbase noted the high interest in decentralized stablecoins, specifically ‘flatcoins.’ Flatcoins are stablecoins tracking inflation rate, giving consumers stability in buying power.
As for On-chain reputation, the platform offers a decentralized reputation and identity, which Coinbase says will play a huge part in describing the on-chain persona of every individual. This way, the teams seek to gain from the protocols devoted to on-chain reputation.
Coinbase added that Onchain Limit Order Books (LOB) are significant for expert traders and organizations. Hence, Base gives opportunities to structure exclusive mechanisms related to spot trading and limit orders.
There is nothing wrong with layer-2s
Coinbase launched Base, an Ethereum layer-2 network, last month. The Bankless founder David Hoffman wrote on Twitter that they had ignored Avalanche, Solana, and Terra during the bull market and were labeled “Blind ETH Maxis.” On the other hand, their focus was on layer-2ss, and they even got into so much trouble for the same.
However, looking back, he says that some altcoins, including Terra’s LUNA, are down for the same reasons they had mentioned.
Sometimes I feel @BanklessHQ should victory lap more often
We ignored Solana, Avalanche, and Terra during the bull, where we got labeled as “Blind ETH Maxis”
SOL down 80% vs ETH. AVAX down 70%. LUNA @ 0
All for the reasons we said they’d be.
Meanwhile, we focused on L2s.…
— DavidHoffman.bedrock 🏴🦇🔊🔴_🔴 (@TrustlessState) March 25, 2023
The post was met with both criticism and commendation. Anatoly Yakovenko, the co-founder of Solana Labs, said everything was fine with layer-2s apart from the quirky claims they will perform thousands or millions of transactions every second.
Nothing wrong with L2s, except the outlandish claims that they will do tens of thousands of txs per second, let alone millions. Same thing is happening with zkEVMs right now.
— toly 🇺🇸 (@aeyakovenko) March 26, 2023
He added that it was the same thing that zero-knowledge Ethereum Virtual Machines (zkEVMs) were going through.
