Coinbase\u2019s layer-2 blockchain<\/span> Base is officially launching its mainnet to the public on August 9, alongside its \u201cOnchain Summer\u201d collaboration, Jesse Pollak, lead for Base and head of protocols at Coinbase, shared on \u2019s Chain Reaction podcast.<\/p>\nThe platform has been operating on the testnet, which is a test phase of the blockchain network, from late February until mid-July, when it launched its \u201cbuilder only phase\u201d for developers, Pollak said. \u201cWe\u2019ve reached a point where we felt there was a critical mass and we wanted to turn on this thing for everyone.\u201d Users can start bridging their funds onchain to mint NFTs and get a \u201ctaste for Base,\u201d Pollak said.<\/p>\n
Upon the launch, Base will also kick off its Onchain Summer initiative, which aims to reframe the narrative around crypto to \u201csomething fun and engaging\u201d by partnering with big consumer brands such as Coca-Cola and Atari, he said. The initiative will partner with Coinbase and over 50 brands, platforms, marketplaces and creators.<\/p>\n
\u201cIf you look at use cases people are building to bring media, music, food and games onchain. Just in the last six-nine months, the breadth and diversity of use cases has started to become mind-boggling, alongside other things you might expect like payments, stablecoins and messaging.\u201d<\/p>\n
Since mid-July, a number of developers have deployed a number of smart contracts, testing out the chain for themselves. So far, Base has seen over $68 million worth of ether bridged to the network and over $200 million in trading volume and transactions, thanks to memecoins like BALD surging (and later plummeting). BALD was tradable through LeetSwap decentralized exchange, which is built on top of Base\u2019s chain.<\/p>\n
\u201cMy first reaction was, \u2018This is crypto; of course this is happening,\u2019\u201d Pollak said. \u201cWas this in our plans? Absolutely not. We\u2019ve been focused on builders and that\u2019s who we remain focused on\u2026 but because Base is an open, permissionless ecosystem, you\u2019re going to see people build all sorts of things. And that\u2019s OK, that\u2019s the beauty of crypto.\u201d<\/p>\n
In general, Pollak sees onchain activity growing extremely quickly.<\/p>\n
In order to push toward their mission to \u201ctransform the internet,\u201d the blockchain is partnering with Prop House to offer over 100 ether, or about $185,000, in grants, to builders building on Base this summer. \u201cWe\u2019re excited to see other applications stand up alongside this activity happening organically.\u201d<\/p>\n
This story was inspired by an episode of \u2019s podcast Chain Reaction. Subscribe to Chain Reaction<\/strong> on Apple Podcasts,<\/strong> Spotify<\/strong> or your favorite pod platform to keep up with the latest episodes, and please leave us a review if you like what you hear! <\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Coinbase\u2019s layer-2 blockchain Base is officially launching its mainnet to the public on August 9, alongside its \u201cOnchain Summer\u201d collaboration, Jesse Pollak, lead for Base and head of protocols at Coinbase, shared on \u2019s Chain Reaction podcast. The platform has been operating on the testnet, which is a test phase of the blockchain network, from […]<\/p>\n","protected":false},"author":1,"featured_media":89166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-89165","post","type-post","status-publish","format-standard","has-post-thumbnail","category-technology"],"yoast_head":"\n
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