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 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.
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.
He added that it was the same thing that zero-knowledge Ethereum Virtual Machines (zkEVMs) were going through.