Ethereum L2 Base Proposed 4 Areas Of Focus For Builders

Key Points:

• Ethereum L2 Base has published a claim for builders on its platform.
• The update introduces four areas where the platform wants developers to focus: Flatcoins, Onchain reputation, Onchain Limit Order Book (LOB) Exchanges, and Safer DeFi.
• Builders focus on these areas with the Base Ecosystem Fund, a pool of capital investing in early-stage (pre-seed to seed) projects building on Base.

Coinbase’s Ethereum L2 Base has released an update on the four areas the platform wants to focus on for developers looking to build projects.

In an official update, Base outlined four areas where the platform wants developers to focus: Flatcoins, Onchain reputation, Onchain Limit Order Book (LOB) Exchanges, and Safer DeFi.

First is the Flatcoins sector, stablecoins that track the inflation rate to offer users stability in purchasing power and resiliency from economic uncertainty. The platform welcomes other forms of flatcoins that are not pegged to fiat but instead fill the gap between fiat-pegged coins and volatile crypto assets.

Onchain reputation is the area where Base believes there is an opportunity to build more trust on-chain through reputation protocols that support on-chain entities. The platform wants to hear from teams that are thinking about managing reputation and credit in a native on-chain way.

While confidence in centralized exchanges is being decimated by the collapse of the FTX empire in November 2022. Base is looking to attract builders to approach the design of non-LOB types of exchanges. This focus on its platform. Base’s high throughput opens up significant new opportunities for designing new mechanisms for spot trading, limit orders, options, perpetual contracts, and more.

Safer DeFi is the last area Base wants to reach. While DeFi continues to grow, the platform thinks better tools are needed that allow users and developers to keep pace with innovation, while keeping their funds safe.

All projects focusing on the above areas will have the opportunity to receive support from Base Ecosystem Fund, a pool of capital investing in early stage (pre-seed to seed) projects building on this platform.

Base, launched by Coinbase, is a Layer 2 (L2) Ethereum network that provides a secure, low-cost, developer-friendly way for anyone, anywhere, to build non-existent applications centralized or “dapps” on the chain.

The platform’s goal is to make onchain the following online and integrated 1B+ user participating in the crypto economy.

In pursuit of this goal, Base will be the home for Coinbase’s on-chain products and an open ecosystem where anyone can build.

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