Coinbase might be set to integrate several other protocols with Base, starting with Aave and Uniswap.
American crypto exchange Coinbase Global Inc (NASDAQ: COIN) is reportedly making moves to bring decentralized finance applications Aave and Uniswap to Base. According to a CoinDesk report, the plans were revealed by a source who is closely familiar with the situation.
Recall, as Coinspeaker reported a month ago, Coinbase recently launched Base — its layer-2 network. However, the blockchain was built using the Ethereum-scaling protocol Optimism. In addition, Base also uses Ethereum’s native coin ETH to settle fees on the network.
Now, however, Coinbase might be set to integrate several other protocols with Base, starting with Aave and Uniswap. Speaking on the condition of anonymity, the source said in part:
“Coinbase is in the process of recruiting a bunch of protocols to Base. Uniswap and Aave are two of those.”
Meanwhile, there is no exact timeframe yet for when the additions are expected to be made to the network. But according to the source, expectations are that Uniswap should be on Base within the next few months.
Without a doubt, Coinbase’s move to add DeFi apps makes a case for the growing popularity of decentralization. For one, DeFi apps have held up quite impressively during the turbulence affecting the general crypto industry. Also, being that Coinbase is a major force and perhaps the most influential centralized crypto trading platform, the move will go a long way in establishing the importance of ecosystems and the need to create a decentralized blockchain network.
In a similar development, a recent governance vote has also ensured that crypto exchange Binance will also be adding Uniswap to its BNB Chain platform.
As of publication, there is yet to be an official statement from Coinbase regarding the matter.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.
