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Chainlink Goes Live on Base as Coinbase Solution Ramps Up its Offering

Published August 14, 2023 4:29 PM
Omar Elorfaly
Published August 14, 2023 4:29 PM

Key Takeaways

  • Coinbase aims to integrate popular DeFi tools through its new blockchain
  • The exchange partnered up with Chainlink to enable developers to create their own DeFi apps on the blockchain
  • BASE has been gaining powerful partnerships recently

In a Twitter post, the popular decentralized oracle network Chainlink announced  its partnership with Coinbase to integrate its tools into BASE, Coinbase’s new blockchain.

Coinbase has been on a roll of partnerships with institutions from different industries to push forward the popularity of its new blockchain.

Chainlink On Base

“Developers can now build next-gen DeFi apps that combine fast execution with Chainlink’s proven price oracle infrastructure,” reads Chainlink’s announcement on Twitter.

Johann Eid, Chief Business Officer at Chainlink Labs, told Decrypt “The integration of Chainlink Price Feeds into Base’s layer-2 blockchain is more than just a technical integration; it’s a strategic alignment of vision and values.”

Chainlink’s integration aims to streamline DeFi protocols such as externally connected DeFi applications that offer lending and borrowing functionality, and derivatives markets.

CCN reached out to Coinbase for commentary but did not receive a reply at the time of publishing.

Coinbase Is Preparing For Mainnet Launch

On June 29th, Coinbase announced that the company is preparing for its Layer-2 blockchain to be launched on Mainnet. 

Base stated that the team is confident after not discovering any serious code vulnerabilities, adding that “with the completion of these audits, we’ve now fulfilled 45 of our criteria for mainnet launch”:

“Completing these in-depth security workstreams without discovering critical severity bugs gave the Base team confidence to proceed towards mainnet launch.”

The process includes rigorous network tests where developers need to explore all potential for exploits and bugs. 

Coca-Cola & Base

As part of Coinbase’s strategy to expand the utility of its new blockchain, the company announced its partnership with Coca-Cola to launch a series of NFTs on its chain.

Coca-Cola’s NFTs signal the entry of household brands into the crypto market. The company expects many brands of the same scale to join its chain as well, such as digital collectible projects created by Zora, Pixelmon, Showtime, and Indelible.

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