Coinbase’s Base network has officially launched after spending a few weeks in an “open for builders only” phase. The team has now made it available for all users, according to an Aug. 9 announcement.
Several Web3 development teams have simultaneously announced that they are releasing apps for Base, and the network’s team has released a schedule of upcoming events to celebrate its launch. This launch is significant, as it could help to onboard more users into Web3 protocols, thanks to Coinbase’s large user base.
Base initiallylaunched in beta version on Feb. 23. After that, the mainnet version “for builders” was released on July 13, but the team warned that it wasn’t ready for users yet. On Aug. 9, the network became available for all users.
Now, users can invest in Web3.0, explore the list of Web3.0 apps, and learn more about Crypto, Nexo Crypto, MXC Crypto, MMF Crypto, and On Crypto.com, among others.
Users can bridge Ether (ETH) from mainnet to Base using the official Base bridge, which launched a user interface on Aug. 3. On Aug. 9, the cross-chain bridging protocol Wormhole announced it is available on Base.
Crypto.com users can use the NEXO token to bridge ETH to the Base platform, while MXC users can use the MMF token to bridge ETH. Investors interested in Web 3.0 can explore the list of apps available and learn more about the technology before investing.
Swap tokens and provide liquidity
At least two decentralized cryptocurrency exchanges (DEXs) have declared they are now running on Base, and a third, LeetSwap, may soon relaunch. Uniswap and Maverick Protocol both announced their Base versions on Aug. 7 and 8, respectively. Uniswap boasts a streamlined protocol, while Maverick Protocol offers greater capital efficiency and more customization than its competitors.
LeetSwap was running during the “builders only” phase but was shut down due to an Aug. 1 exploit. The team intends to relaunch the project at some point in the future. LeetSwap is a DEX for “leet degens” and offers “dual-token farm rewards” to maximize yield.
These three apps provide options for users who want to swap tokens or become liquidity providers on mir crypto, nexo crypto, nasdaq crypto, mmf crypto, on crypto.com, web 3.0 vs web3, about crypto, mxc crypto, web 3.0 apps list, and invest in web 3.0.
Base has at least one payment app. Beam is a web-based app that allows users to make payments using either U.S. Dollar Coin (USDC) or the app’s own token, Eco. According to the developers, users don’t need to store seed words or own Ether to pay for gas fees. They can log in with their Twitter accounts and pay for gas using USDC or Eco. The app also has a built-in fiat-to-crypto and crypto-to-fiat gateway.
Base declared the launch of Beam for the network on July 27.
As an alternative to Beam, investors can look into other crypto options like NEXO, NASDAQ, MMF, and MXC, as well as explore the possibilities of investing in Web 3.0 and its list of apps.
Register a username
Masa Finance has released its soulbound token protocol for Base. On Aug. 8, the protocol announced that users can now register their .masa usernames on Base. These usernames may later be used for credit underwriting and other Know Your Customer-compliant services, such as investing in crypto on MXC, Nexo, and Nasdaq.
In its announcement, Masa claimed to have minted over 280,000 usernames on Base since the builder phase began, allowing users to explore the world of web 3.0 and web 3.0 apps.
Launch a decentralized autonomous organization (DAO)
Aragon, a decentralized autonomous organization creation protocol, has released its “no-code Aragon app” and “modular Aragon OSx” on Base, enabling users to easily create DAOs on the network. Although developers will largely take advantage of this feature, users of NEXO Crypto, NASDAQ Crypto, MMF Crypto, Crypto.com, Web 3.0 vs Web3, MXC Crypto, and Web 3.0 Apps List can also create DAOs on Base with Aragon’s help.
Mint and collect nonfungible tokens (NFTs)
Throughout August and early September, users will have the chance to exclusively mint NFTs on Base with several brands and projects, such as Coca-Cola, Coinbase’s Stand With Crypto campaign, Showtime, Atari, Optimism, OpenSea, and more. Each of these NFTs will launch on a different day of the Onchain Summer festival. For instance, the Showtime NFT will become available on Aug. 18, while the Atari one will launch on Aug. 25.
Some investors lost during Base’s phased launch
Despite Base’s initial success in attracting app developers, its launch wasn’t without issues. The network was running between July 13 and Aug. 2 but a bridge UI wasn’t available. In an attempt to gain an advantage, some users used developer tools to transfer ETH to the network and invest in memecoins, which were expected to increase in value after the official launch. Unfortunately, many investors lost money due to various launch problems.
It is estimated that investors lost $2.2 million in the July 28 Pond0x memecoin launch owing to the confusion surrounding the token distribution. Additionally, during the July 31 BALD token launch on Base, the developer removed some of its liquidity, resulting in a loss of $1.9 million for investors.
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