Blockchain
Coinbase is busy bringing decentralized finance (DeFi) applications UniSwap and Aave to Base, the U.S.-listed exchange’s layer 2 (L2) network that was launched last month.
Coinbase’s Base L2 is built using the Ethereum scaling protocol Optimism, and uses Ethereum’s native cryptocurrency ETH for fees on the network.
“Coinbase is in the process of recruiting a bunch of protocols to Base. UniSwap and Aave are two of those,” said a person familiar with the situation.
UniSwap will probably appear on Base within a couple of months, the person added.
Decentralized apps have held up well amid the turmoil that is currently afflicting the crypto industry. While Coinbase is among the largest and most influential of the centralized crypto trading platforms, the firm clearly understands the value attached to ecosystems, hence the drive to incubate a decentralized blockchain network.
UniSwap is also going to be connected to the BNB Chain platform, launched by crypto exchange Binance, according to a recent governance vote.
Coinbase declined to comment.
