Coinbase, the US-based cryptocurrency exchange, is reportedly adding decentralized finance (DeFi) applications Uniswap and Aave to its Base layer 2 network.
The network was launched last month and is built using the Ethereum-scaling protocol Optimism, using Ethereum’s native cryptocurrency ETH for fees on the network. Coinbase is reportedly in the process of adding various protocols to its Base network, including DeFi giants Uniswap and Aave, as per an anonymous source. The insider further revealed that Uniswap is expected to join the network within the next few months.
As decentralized apps continue to hold up well in the current turbulent times in the crypto industry, Coinbase’s move to incubate a decentralized blockchain network shows the value attached to ecosystems. Uniswap, in particular, is gaining popularity in the DeFi space, as evidenced by its governance vote to connect to the BNB Chain platform launched by Binance. However, Coinbase declined to comment on the news of adding Uniswap and Aave to its Base network.