Coinbase Launches Layer 2 Network Base

Crypto exchange Coinbase launched Base, a testnet version of its new Ethereum layer 2 network, modeled on Ethereum's Goerli testnet and built using Optimism's OP Stack. Coinbase will also be joining Optimism as a core developer for the OP Stack. The existing suite of Coinbase developer tools will be integrated with Base. In addition, Coinbase has no plans to issue a new network token.

Meanwhile, Coinbase also announced the Base Ecosystem Fund, which will invest in and supports early-stage projects building on Base that meet predetermined investment criteria.

According to TokenInsight data, the Optimism ($OP) price went up by 23.30% over the last 24 hours, trading at $3.0319 now.