Base L2 Launch & Coinbase Onchain Bet
Code: NT-120
Tags: #l2 #coinbase #rollups
Language: en
User Moment
Coinbase opened Base to builders with an Onchain Summer campaign, giving mainstream users a cheap path to mint NFTs or try DeFi without leaving the Coinbase ecosystem. KYC’d users could bridge via familiar UI instead of MetaMask pop-ups.
Product Surface
Base runs on the OP Stack, so sequencer performance mirrored Optimism while branding and developer relations were distinct. Coinbase embedded fiat on-ramps and account abstraction experiments to simplify gas sponsorship.
Ecosystem Reaction
Developers rushed to deploy social apps, friend.tech popped up days later, and liquidity migrated from Ethereum mainnet via canonical bridges and third-party routers. Competing L2s accelerated their own value-add services to avoid losing mindshare.
Execution Lessons
Owning distribution through an exchange lets L2 teams narrate launches like product updates, but it also raises scrutiny around censorship commitments and MEV policies.