According to recent reports, the US cryptocurrency exchange Coinbase Global Inc is taking steps toward integrating the decentralized finance apps Aave and Uniswap into the Coinbase L2 Network Base.
A person intimately aware of the circumstance was cited as the source of information in a report (1) by CoinDesk as having divulged the plans.
The Aave and Uniswap Applications Have Been Added to the Coinbase L2 Network Base
Optimist, a scaling protocol for Ethereum, was utilized throughout the construction of the blockchain. In addition to this, Base utilizes Ethereum’s native coin, known as ETH, to settle fees on the network.
Today, though, there is speculation that Coinbase plans to integrate several additional protocols with Base, beginning with Aave and Uniswap. Under the anonymity guarantee, the source disclosed in part the following information:
Coinbase is now in the process of bringing on board many protocols for Base. Aave and Uniswap are two examples of those.”
Meanwhile, no specific date has been provided for when it is anticipated that the additions will be made to the network.
On the other hand, the insider claims that there is an expectation that Uniswap will be available on Base in a few months.
Coinbase has expressed interest in developing a distributed blockchain network
Without a shadow of a doubt, the decision by Coinbase to introduce support for DeFi apps argues in favor of the ever-increasing appeal of decentralization.
For one, decentralized exchange applications have performed admirably despite the turmoil afflicting the cryptocurrency market as a whole.
Additionally, given that Coinbase is a significant power and maybe the most important centralized cryptocurrency trading platform, this move will go a long way toward showing the significance of ecosystems and the necessity of developing a decentralized blockchain network.
A recent governance decision has also confirmed that the cryptocurrency exchange Binance will add Uniswap to its BNB Chain platform. This news comes in the wake of a similar event.
As of the time this article was written, Coinbase has not yet officially stated the matter.