Coinbase’s Base Network has officially launched after a few weeks before it was open. “For developers only”, the network is now available for general users to start using. According to the announcement from the team on August 9
Several Web3 development teams have simultaneously announced that an app will be released for Base, and the network team has released a schedule of upcoming events to celebrate the release.
And here are some things users can do on Base right now.
Bridge tokens
Users can bridge Ether from mainnet to Base using the official Base bridge, which launched the user interface on Aug. 3. On Aug. 9, Wormhole’s cross-chain bridging protocol was announced to be available on Base
Swap tokens and provide liquidity
Have at least two DEXs It has announced that it is working on Base and that another one may soon be launched by Uniswap, one of the first decentralized exchanges on Ethereum. announced that Their Base version is running on August 7th.
The Maverick Protocol was also announced for the Base network version on August 8. Maverick claims to be more capital-efficient and allow for more customization than its competitors.
The third DEX on Base, LeetSwap, previously worked during the “Developers only” but is currently closed due to a hack on August 1st by the team.intendIt will launch the project again in the future, which LeetSwap claims is a DEX for “leet degens” and offers a “dual-token farm reward.”
payment
There is currently at least one payment app on Base, Beam, a web-based app that allows users to pay using USDC without the need to store a seed word or have Ether to pay for gas. They can log in with their Twitter account and pay for gas using USDC or Eco tokens. fiat-to-crypto and crypto-to-fiat built-in
Username registration
Masa Finance launched the Soulbound token protocol for the Base network on August 8. The protocol announced that users can now register .masa usernames on Base, these usernames may be used for loans and other services. related to Know Your Customer later.
Creation of a decentralized autonomous organization (DAO)
Decentralized Autonomous Organization Creation Protocol Aragon has released a “no-code Aragon app” and “modular Aragon OSx” on Base to easily build networked DAOs. Although most of them are developers who will use this function. But end users can also create DAOs on base through Aragon.
Mint and collect NFT tokens
Several projects are set to allow Mint NFT users exclusively on Base throughout August and early September, including Coca-Cola, Coinbase’s Stand With Crypto campaign, Showtime, Atari, Optimism, OpenSea, and others. The show will debut on different days of Onchain Summer. For example, Showtime NFT will be released on August 18, while Atari will be released on August 25.
problem
Although Base was initially successful in attracting developers But the launch was not smooth or problematic. The network was activated between July 13th and August 2nd, but did not have a Bridge UI. As a result, some users attempted to access it using developer tools to transfer ETH to the network. to buy memecoins that are expected to increase in value after the network’s official launch. However, many investors have lost money on these projects due to various issues in the launch.
Investors lost about $2.2 million in the Pond0x memecoin launch on July 28 due to confusion over how the token was distributed, and another $1.9 million was lost during the token launch. BALD on July 31st on Base when the developer stole some of the liquidity.
refer : cointelegraph
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