Base is an Ethereum Layer 2 (L2) network offering a secure, low-cost, developer-friendly way to build decentralized apps on-chain. The goal of Base is to serve as both a home for Coinbase's on-chain products and an open ecosystem where anyone can build.
Coinbase plans to incubate Base inside of Coinbase and decentralize the chain progressively in the years ahead.
Coinbase is building Base to bring their simple, trusted, easy-to-use philosophy to every on-chain product their customers want to use and offer a trustworthy default chain to Coinbase customers.
"We are happy that Backed has decided to bring their products to Base. We’re excited about Backed because they believe in open financial systems, demonstrated in their commitment to bringing real-world assets on-chain that can be freely used in the growing cryptoeconomy," says Jesse Pollak, Base Lead.
By natively issuing our tokens on Base, we will expand their reach and utility and give more users access to fully-backed real-world assets.
Commenting on the Base testnet announcement, Adam Levi, Backed's co-founder, said, "We are proud to bring our products to Base." He continued, "Backed is committed to creating an open and fair financial system, and we believe issuing our products on Base is an important step forward in that journey."
Backed is a Swiss start-up bridging real-world assets on-chain. We issue tokens that track the value of real-world assets, such as stocks or ETFs. Tokens are freely transferable across wallets, are fully collateralized by the underlying asset, and are issued in compliance with the Swiss DLT act.