Flatcoins, Onchain Reputation, LOB Exchange, DeFi and More: Coinbase’s Base Ecosystem Fund Seeks Innovative Builders
Coinbase’s L2 blockchain Base has recently announced that its Base Ecosystem Fund will extend a Request for Builders to work on several critical areas that are crucial for onchain economy growth.
The fund aims to invest in early-stage projects building on Base, offering them a pool of capital combined with dedicated support from the Base team to help teams succeed.
One of the critical areas that Base is interested in exploring is the development of stablecoins that track the rate of inflation, enabling users to have stability in purchasing power while also having resiliency from the economic uncertainty caused by the legacy financial system. Base also welcomes other forms of ‘flatcoins’ that do not peg to fiat but rather fill the space between fiat pegged coins and volatile crypto assets.
Base is also interested in exploring the development of onchain reputation protocols that natively support onchain entities. These reputation protocols could include FICO or Google page rank type score on ENS names, ratings/reviews for merchants, and other measures that help build trust onchain.
Moreover, Base is curious to see how builders approach designing decentralized LOB exchanges on or around Base that can offer the throughput needed for a more advanced exchange while also eliminating counterparty risk through self-custody. Base believes that existing exchange offerings, such as AMMs, are incredibly useful and a critical DeFi primitive, but LOBs have a role, particularly for professional traders and institutions.
Lastly, Base believes that we need better tools to keep up with the pace of innovation while keeping funds safe in the DeFi ecosystem. This includes tools that can protect against smart contract code vulnerabilities or protocol logic errors, threat prevention, circuit breakers, incident response systems, and onchain insurance and cover protocols.
Recipients of funding from the Base Ecosystem Fund will have a first look at new product features on Base, along with direct support from the Base core development and Ecosystem team members in the Base developer Discord.
In conclusion, Base’s Request for Builders is an excellent opportunity for builders around the world to be a part of the Base Ecosystem Fund and explore these critical areas. The fund’s capital pool combined with dedicated support from the Base team will undoubtedly help early-stage projects succeed and bring the next billion users onchain.
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