Coinbase Launches Base Mainnet on August 9, Celebrates Onchain Summer

The popular crypto exchange Coinbase announced the public launch of Base, the platform’s layer-2 blockchain built with Optimism’s OP Stack. The exchange revealed that the “Onchain Summer is kicking off” on August 9, celebrating the launch of Base.

On August 3, Base took to Twitter to honor the Onchain Summer, citing, “We’re helping throw an onchain festival to celebrate”:

In July, the platform was open for the developers allowing them to test applications on the Base network. As per the latest announcement, the Base mainnet would be open before the whole community availing them “the bridge to the on-chain economy”. 

Defining Onchain Summer, Base wrote on Twitter,

We’re working with 50 of the best builders, products, artists, and brands, to showcase emerging onchain culture Every day in August, we’ll bring you something fun thing to do onchain — a first-of-its-kind onchain festival.

Coinbase’s blog post shed light on the initiative that the platform has taken to honor the multi-week celebration of onchain art, music, culture, and game built on Base. The post asserted that prominent companies including Coca-Cola, OpenSea, and Atari along with other industry giants and experts would accompany the team coordinating events for the Onchain Summer celebration.

The crypto exchange further reiterated the firm’s insistence on an onchain economy that “increases economic freedom around the world”. Coinbase added:

We’re excited to announce that Coinbase and Coinbase Wallet will both be supporting Base in its mainnet launch on August 9 and bringing you the best of the ecosystem in a first-of-its-kind onchain festival – Onchain Summer.

Notably, Base has been achieving wild acceptance from the crypto enthusiasts who have already started bridging their Ether (ETH) to the platform, prior to the mainnet launch. Reportedly, over $68 million worth of the altcoin has been transferred to Base.