Crypto News- Coinbase is making strides in simplifying its crypto wallet experience, as highlighted by CEO Armstrong. The initiative includes enabling users to send USDC on Base instantly, globally, and at no cost. Armstrong emphasized experimenting with this approach as the default mode in frontier markets to facilitate easier onboarding, with the option for users to switch to advanced settings when ready.
Coinbase Introduces Simplified Crypto Wallet Design and Welcomes Seamless (SEAM) Token Listing
Addressing the longstanding barrier of user experience (UX) in the crypto space, Armstrong acknowledged the complexities involved in navigating exchanges, addresses, transactions, gas fees, and avoiding scams. Coinbase’s strategy focuses on streamlining essential functions such as buying, sending, receiving, and storing digital assets, making crypto more accessible even for beginners.
In a recent development, Coinbase Assets announced support for Seamless (SEAM) on the Base network, marking SEAM as the first and only Base native project token available on Coinbase. Seamless operates as a layer-2 lending and borrowing protocol on Base, with its flagship product, Integrated Liquidity Markets (ILM), resembling specific-purpose loans. This week, Seamless distributed SEAM tokens through airdrops based on user protocol activity.
Despite concerns about the surge in Total Value Locked (TVL) to over $54 million, mainly attributed to airdrop farming, Seamless stands out as the second-largest protocol on Base, experiencing a 600% surge in TVL over the past day or so, according to Defillama.
While Base’s DeFi TVL currently stands at $358 million, down from its peak in early September, the broader DeFi TVL has exceeded $50 billion for the first time since mid-April. Base holds the position of the third-largest layer-2 network, boasting $639 million and a market share of around 4%, with Arbitrum and Optimism dominating the layer-2 landscape.
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