Coinbase’s Base network has officially launched and is now open to end-users after completing its phased launch on August 9. The network initially launched in beta version on February 23 and became available for builders on July 13. Several Web3 development teams have announced the release of apps for Base, and the network has scheduled upcoming events to celebrate its launch.
Users can now bridge Ether from mainnet to Base using the official Base bridge, and the cross-chain bridging protocol Wormhole is also available on Base. Additionally, at least two decentralized cryptocurrency exchanges (DEXs) are running on Base, including Uniswap and Maverick Protocol. Another DEX called LeetSwap, which was previously running during the “builders only” phase, plans to relaunch in the future.
Base also offers a payment app called Beam, which allows users to make payments using U.S. Dollar Coin (USDC) or the app’s native coin, Eco. Users can log in with their Twitter accounts and pay for gas using USDC or Eco. Masa Finance has released its soulbound token protocol for Base, allowing users to register their .masa usernames on the network.
Aragon has launched its “no-code Aragon app” and “modular Aragon OSx” on Base, enabling the easy creation of decentralized autonomous organizations (DAOs). Users can mint and collect nonfungible tokens (NFTs) exclusively on Base through various brands and projects participating in the Onchain Summer festival.
Despite its success in attracting app developers, Base’s launch has faced some challenges. Some users lost money in memecoins due to launch issues, resulting in an estimated $2.2 million lost during the Pond0x memecoin launch and $1.9 million lost during the BALD token launch.
Summary:
– Coinbase’s Base network is officially open to end-users after completing its phased launch.
– Several Web3 development teams have released apps for Base, and upcoming events are scheduled to celebrate its launch.
– Users can bridge Ether from mainnet to Base using the official Base bridge, and the cross-chain bridging protocol Wormhole is available.
– Uniswap and Maverick Protocol are decentralized exchanges running on Base, with LeetSwap planning to relaunch in the future.
– The payment app Beam allows users to make payments using USDC or Eco.
– Masa Finance’s soulbound token protocol allows users to register .masa usernames on Base.
– Aragon has launched its “no-code Aragon app” and “modular Aragon OSx” on Base for easy DAO creation.
– Users can mint and collect NFTs exclusively on Base through various brands and projects participating in the Onchain Summer festival.
– Some users lost money in memecoins during Base’s launch due to various issues.