Pro
Pump Up The Base
Key Insights
- Coinbase is building a Layer-2 solution for Ethereum called Base, joining other major exchanges with its own blockchain solution.
- Coinbase could onboard its large user and asset base through integration between its exchange, wallet, and Base.
- While Coinbase does not plan to issue a new network token, USDC could fill this role, generating sticky demand for the stablecoin.
- Base will be built on top of the OP stack. Coinbase will provide a percentage of fees earned through transactions to the Optimism Collective while collaborating with Optimism for infrastructure and application development.
Coinbase announced that it is building a Layer-2 (L2) solution for Ethereum utilizing Optimism’s OP Stack. Coinbase finally joins other major exchanges such as Binance, Crypto.com, and OKCoin to have its own associated blockchain solution.
All Your Base Are Belong To Us
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Kunal previously worked in equity research and now considers himself a financial analyst in crypto. He specializes in valuation and bottom-up analysis for Layer-1 and DeFi protocols because he has yet to learn of a way to value NFTs.
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