Centralized exchanges are considered “centralized” because a profiting entity controls its operations. 

But these centralized exchanges are now also being known for producing their own blockchains and non-custodial wallets—more aligned to the blockchain’s goal of decentralization. 

One prime example is Coinbase, which now has its own blockchain and web3 wallet. 

Read more:

Base Overview

Base (https://www.base.org/) is an Ethereum layer 2 solution that claims to be a secure, low-cost, builder-friendly platform “built to bring the next billion users on-chain.”

“To bring in billions of users to the cryptoeconomy, dapps need to be easier, cheaper, and safer to interact with. For this to happen, we need to make it even easier for developers to build these dapps,” Coinbase promoted. 

Moreover, one of the advantages of the L2 is that dapp developers that will use Base can utilize Coinbase’s products, users, and tools, as promised by the international exchange: 

“Seamless Coinbase product integrations, easy fiat onramps, and powerful acquisition tools enable developers to serve the 110M+ verified users and to access $80B assets on platform in the Coinbase ecosystem.” 

Consequently, the exchange expressed to make the blockchain as a “bridge,” where users can access the Ethereum network and the L2s built on it. 

“Decentralization is essential for the cryptoeconomy to remain open, global, and accessible to everyone. While we’ve begun incubating Base inside of Coinbase, we are deeply committed to progressing towards full decentralization over the years ahead,” the developers assured. 

“It’s an easy-to-use default onchain experience with access to products on other chains. Along with making Base interoperable with other chains, we will continue supporting as many chains as possible across Coinbase products.”

The Coinbase Wallet

The Coinbase exchange, which is the app itself (https://www.coinbase.com/), is a centralized exchange with a built-in hot custodial wallet. 

The Coinbase Wallet (https://www.coinbase.com/wallet/downloads)  is a non-custodial web3 wallet, which means that users own the wallet by holding their seed phrases and can be used to store both crypto and NFTs. 

Coinbase Wallet can be used in almost all EVM-compatible dapps. It also has an in-app dapp browser, where users can choose dapps that they can explore, including liquidity protocols, decentralized exchanges, and even a DAO. 

The Airdrop: Will Base or Coinbase Wallet Launch Native Token Soon?

The Coinbase team has repeatedly stressed that they still have no plans to issue a token for the Base Network or the Coinbase Wallet. 

However, the community is still speculating, especially since both Base and Coinbase Wallet are gaining popularity right now. 

For the Coinbase Wallet, it has an active “Quests” feature. Basically, since it has an in-app dapp browser, some dapps offer quests, like swapping tokens, delegating, minting NFTs, staking, and more. In return, those who finish quests will earn crypto or NFTs. 

The community is looking forward to this feature as it looks like an airdrop campaign. And once the wallet launches its own token, bigger quest rewards can be expected. 

Meanwhile, for Base, there is still no hint as to whether a rewards campaign might happen. So the community is still speculating that once it launches its own token, those who will use Base’s bridge feature can earn rewards. 

To use the “Bridge” feature: 

• Step 1: Go to https://bridge.base.org/deposit. 
• Step 2: Connect an Ethereum Wallet. 
• Step 3: Deposit funds—from Ethereum to Base. 
• Step 4: Confirm transaction. 

The Base Ecosystem: Will An Airdrop Happen Soon?

Take note that this list does not guarantee that they will host an airdrop campaign soon. 

Orbiter Finance

Orbiter Finance (https://www.orbiter.finance/home) is a zero-knowledge (ZK) technology-based Ethereum Acceleration Engine that seeks to enable cross-rollup transactions to improve Ethereum’s interchain compatibility and maintain real-time synchronization between rollups and the mainnet. 

Stargate

Stargate (https://stargate.finance/) is a fully composable liquidity transport protocol that aims to allow users and dapps to transfer native assets cross-chain while accessing the protocol’s unified liquidity pools with instant guaranteed finality.

Aragon

Aragon (https://aragon.org/) is a tool for creating and managing DAOs. It claims to support the creation of about 7,500 DAOs by building DAO frameworks for more than six years. 

Nouns Builder

Nouns Builder (https://nouns.build/) is a tool that allows any DAO to govern completely on-chain. Nouns eyes to bootstrap community and identity with the additive layer of governance and a treasury.

0x

0x (https://0x.org/) is a one-stop shop to build financial products on crypto rails. It offers APIs that can be integrated into dapps like an order book, a swap functionality, and a realtime DEX. 

Alien Base

Alien Base (https://alienbase.xyz/) is a Base-native DEX that claims to feature blue-chip tokens and project tokens that reached significant amounts of liquidity and traction. It also provides leveraged trading options through Perpetuals and Predictions, a binary options platform.

Base Battles

Base Battles (https://basebattles.xyz/) is an army-based game built on top of the Base network. 

Blackbird

Blackbird (https://www.blackbird.xyz/faqs) is a loyalty and membership platform for restaurants. Users can earn $FLY points by checking in to its partner restaurants. 

BitAvatar

BitAvatar (https://bitavatar.io/) is a Soulbound avatar identity for multi-ecosystem social and communication. As of this writing, it is still on developing stage. 

Across

Across (https://across.to/) is an interoperability protocol powered by intents. It claims to be the only known cross-chain intents protocol in production, enabling the fastest and lowest-cost interoperability solution without security tradeoffs.

This article is published on BitPinas: Base Airdrop and Ecosystem Guide

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