• Coinbase announced an Ethereum layer 2 scaling product that uses Optimism’s technology.
• The news has caused a surge of optimism token prices, with some doubling in value over the past week.
• Coinbase is joining Optimism as a core developer on the open source OP Stack and working to create a thriving community of other developers.

Coinbase Unveils Its Layer 2 BaseCoin

Coinbase, a Nasdaq-listed digital-assets exchange, announced Thursday its launch of an Ethereum layer 2 scaling product called Base that utilizes Optimism’s technology.

Markets Surge with Optimism Ecosystem Tokens

The news has sparked a surge in token prices from the Optimism ecosystem such as VELO, SONNE, OPX, PERP and more seeing double-digit gains within 24 hours.

Base to be Decentralized and Permissionless

Base aims to be decentralized, permissionless and open to anyone with the vision of creating a standard Superchain powered by Optimism. This will also be interoperable with other blockchains such as Solana but won’t have its native token.

Optimism Joins Coinbase as Core Developer

Coinbase is joining forces with Optimism as a core dev on their open source OP Stack and is working towards growing their community of developers around it.

Crypto Twitter Speculation

Speculations from Crypto Twitter are suggesting that Coinbase may be looking into creating its own native token for Base soon enough.

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