Coinbase’s Base Network Launches User Interface and Grants
Coinbase’s Base Network has launched a user interface (UI) for its bridge, allowing end users to onboard without relying on developer tools, the team announced on Aug. 3. The official release date is set for Aug. 9 and the team will be awarding over 100 Ether (ETH), worth approximately $184,000, in grants as part of the “Onchain Summer” launch event.
The Base mainnet was launched for builders on July 13, but it lacked a UI for the bridge from Ethereum. The only way to use the network was to employ command-line developer tools to bridge ETH from Ethereum’s layer 1. With the launch of the UI, end users can now use the network without waiting for the official launch date.
The Onchain Summer celebration will feature art, music, gaming, advocacy, and more. Individuals or groups that create Base-related websites, art, videos, deploy new protocols to the network between Aug. 9 and Sept. 13 will be awarded ETH grants. Additionally, users who bridge to the network or complete educational “quests” will receive Base-related nonfungible tokens and ETH.
When Base was launched for builders, but not publicly available, some investors lost millions of dollars worth of crypto. On July 28, the Pond0x (PNDX) memecoin was launched for Base, and tech-savvy investors, knowing how to bridge without a UI, invested over $2 million, only to have the token collapse to near zero due to a bug in its transfer function. Additionally, the Bald (BALD) memecoin resulted in losses of approximately $1.9 million when the developer withdrew liquidity from the crypto.com exchange it was trading on.
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