Coinbase Is Adding DeFi Apps Uniswap and Aave to Its Base Blockchain: Source

Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

Coinbase (COIN) is busy bringing decentralized-finance applications Uniswap and Aave to Base, the U.S.-listed exchange’s layer 2 network that was launched last month.

Coinbase’s Base layer 2 network is built using the Ethereum-scaling protocol Optimism and uses Ethereum’s native cryptocurrency ETH for fees on the network.

“Coinbase is in the process of recruiting a bunch of protocols to Base. Uniswap and Aave are two of those,” a person familiar with the situation said.

Uniswap will probably appear on Base within a couple of months, the person added.

Decentralized apps have held up well amid the turmoil that is afflicting the crypto industry. While Coinbase is among the largest and most influential of the centralized crypto trading platforms, the firm clearly understands the value attached to ecosystems and hence the drive to incubate a decentralized blockchain network.

Uniswap is also going to be connected to the BNB Chain platform, which was launched by crypto exchange Binance, according to a recent governance vote.

Coinbase declined to comment.

DISCLOSURE

Please note that our

cookies,

and

do not sell my personal information

has been updated

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a

strict set of editorial policies.

CoinDesk is an independent operating subsidiary of

Digital Currency Group,

which invests in

cryptocurrencies

and blockchain

startups.

As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of

stock appreciation rights,

which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG

Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

Learn more about Consensus 2024CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.