A New Day One in under 15 minutes

Coinbase was founded 13 years ago and our mission is to increase economic freedom in the world. We believe that crypto is the most important technology to help achieve that. I think we're finally at this point as an industry. In reality, innovation was needed in all these different companies, foundations, groups, and individuals. We have these LEGO pieces.

How can we start assembling them into that new application that creates a chain economy for a billion people and that is actually useful for ordinary people? Base was launched just under 2 years ago. It was incubated at Coinbase, built on Ethereum, and is part of the superchain. And since then, it has become one of the fastest, cheapest, and most accessible blockchains in the world. I'm excited to introduce a new open stack of products and a new Base brand.

When we launched Base, the logo was a circle. It was simple, it was solid, it was a foundation, a starting point. But as the ecosystem grew and the community grew with it, we realized that the circle didn't capture everything. He felt complete, finished. But Base is not finished.

We are all here. We are working. It is evolving. We are building. It's getting better.

It's open. And we realized that a square is actually the building block. It's a canvas. It's a pixel. It represents possibility.

He represents the builders. But we didn't really know how to bring the square to life. During the last 4 months, we built and launched brand.base.org, a space for open creation.

And now, after many months of openly building this brand, I want to show you how it's coming to life. This is a new day one for Base. It's a new day one for a brand, and it's something we all built together. And with this new brand, I want to reintroduce you to Base. Base is now Base Chain, the L2 of Ethereum that we have been building as a core part of the Superchain.

The guiding principle of Base Chain is fast, cheap, and secure on-chain transactions at scale on a decentralized network that everyone can access. The chain drives the infrastructure that enables this ecosystem of chained applications . And I have great news. As of today, about 2 hours ago, Base Chain is now 10 times faster. With Flatblocks, we reduced the effective block times in Base from 2 seconds to just 200 milliseconds.

And that means that applications in Base are almost instantaneous. Second, Base Build. Over the past 2 years, we've built a suite of tools that help developers build, scale, and monetize their on-chain products. And finally, we're excited to reveal TBA. This is the next evolution of Coinbase Wallet, rebuilt over the last 9 months by an amazing team from the ground up.

I'm here to tell you that TBA stands for "Base App". It's a comprehensive app that brings together the best of social, discovery, chat, payments, and trading so you can connect to the global economy we're all building. And it's powered by the open protocols you already know and appreciate. So let's see this application in action. Drop the bass, bass.

Low, low. With the Base App, you own your content. Your posts are active. You can post something and earn a little more than you would on other sites. And if it goes viral, you can earn much more.

So Base makes it easy to find and use applications on the chain. Thousands of applications are active today, including games, prediction markets, trading tools, AI agents, and more. And they are created by people from all over the world. Anyone can publish their apps and they will be discoverable in the feed, on the home tab and within the chat. It is, in fact, the first time that the discovery, use, and distribution of applications are so integrated into the product itself.

Then there's secure chat, but this isn't your average messaging experience. It's an end-to-end encrypted chat where you can share apps, send and request payments, trade and interact with AI agents in direct messages and group chats. Finally, there's the wallet. Base is built on a state-of-the-art smart wallet called a Base account, with secure login, no gas fees, and easy account funding. It's a universal account that you can use within the Base App and also take with you to other applications.

John just talked about how the Base App feels like your new home for everything that happens in the chain. And I'm really excited to show you what it actually looks like once you start using it in your daily life. So, for me, it starts the same as many things in my life: with a group chat. Because messaging is simply the most familiar thing we have on our phones. We use it every day to talk about our plans, send funny pictures, find out about people, and simply share what we love.

So, with summer on the chain approaching, I connected Koop and Jake in a chat. Both of them are here today, and they are incredible builders, passionate about helping creators and artists make money on the chain. And what's really exciting is that these chats are much more powerful with Base. You 're not just talking, you can actually do things. So I wanted to support some artists that Coops has brought in here in Los Angeles and maybe even make a little money by backing those musicians before they became famous.

So, I asked an agent named Banker to buy his coins all in one go . And as you can see, it's not really a group chat, it's like a group chat with superpowers. And this is what makes the Base app different. It's multiplayer by default, which means everything can happen together with others, whether it's posting, trading, chatting, or co-creating. In fact, earlier this week I shared this photo, which is from 2 years ago.

You'll see some familiar faces like Jesse and Wilson. We were in the Idyllwild woods working late into the night before launching Base. And that felt like the perfect memory to celebrate a new day one . So, with just one tap, I turned my post into a collectible coin that anyone could buy and support. On most platforms, you can't really earn unless you have a massive following, land a brand deal, or simply live in the right country where you're eligible to earn.

But in Base, you can make your post viable. Because, as all creators know, our content has value. So if someone buys your listing, you win. And if it goes viral, both you and your fans, everyone who participated in it and those who bought that part, profit from that benefit. And it wasn't long before I received this notification right here.

This is a moment we want everyone to experience. Not just likes and views, but real earnings and real benefits. You can earn weekly rewards for posting. You can earn money when you curate content and influence others. And there are tons of mini-apps that help you boost your performance, discover new coins early, win with predictions, and even get rewards just for showing up.

And when we say the Base app is for you, we really mean it. So you may have noticed that you can customize the theme to whatever you want. Here you can see a mint green, or perhaps you just want to represent the brand. But it goes far beyond just colors, because in the Base app, you own your identity, your assets, your social connections, and you can take them anywhere , even outside the app. On most platforms, you are the product, but at Base, you are in control.

And everything I 've shown you so far are just some of the things you can do with the Base app on its own. I'm Jintan, head of engineering, and I'm very proud of what we've built with the Base app. We've talked about how the Base application is built on open protocols, but what does that really mean? Looking back, the early internet gave us open building blocks. Anyone could take the pieces and assemble a website.

Check your home screen today. It's a grid of icons. One app for payments, one or two for messaging, one for games, maybe another for sports betting. But each icon is its own private world. The days of the closed internet are over, and that's why we built the Base application on a stack of six open layers, all speaking the same language.

In one place, you can move money anywhere in the world in seconds. Since Base works on Ethereum and the superchain, it makes all of this happen. You can take your identity with you wherever you go because Base Names in ENS allow you to use the same name across the entire internet. You can own your social graph with Farcaster and every post with Zora. Now your social and graphic content belongs to you, not to them.

Use 24/7 marketplaces on Aerodrome, Uniswap, and hundreds of other DEXs. You won't want to miss that 2:00 a.m. move. I don't.

Chat with your friends and agents using secure XMTP messaging, but it's different. Because? The chats are yours because the keys belong to you. We took these six layers and combined them into one beautiful canvas layers and combined them into one beautiful canvas . Those private worlds are now just tabs, but they are open and interoperable in the Base application.

Here we go. Users have an identity that moves with you wherever you go in the application. And when everything runs on shared, open rails, you start with an infinite toolbox made by millions of developers like you. Every developer in the world becomes an extension of your product and team. It's magical.

At the core of the Base application is an open, customizable account that you can take with you via the web. We call it the Base account. And it's a universal login for the open internet. The Base account is the evolution of our smart wallet. It's fast, simple, and secure, and no centralized platform can take it away from you.

When you create a Base account, you're not just setting up a wallet, you're unlocking a portable, sovereign identity that works across the entire internet. Wherever you see "Sign in with Base", just click, use Face ID, and you're good to go . Developers can use our new Base Account SDK today, add Base login to their websites, and connect with over 100,000 existing users. Now, of course, a large part of cryptocurrencies are payments. So I want to talk about how you'll use this account to pay across the web.

Today I am very, very excited to introduce Base Pay, the fastest way to pay with USDC. Since the beginning of our collaboration with Shopify, we have worked with them to develop Base Pay as a truly superior payment experience. And who better to work with than the world's leading trade leaders? To talk more about this, I welcome Alex Danco from Shopify. In recent months, it became clear that the pieces were falling into place to make all of this possible.

Reliable stablecoins that everyone could have were needed . A fast and inexpensive chain was needed as a base. We needed all these things. But we also had to do a lot of work to make it really work for trade. TRUE?

Merchants have complex needs when selling in the real world. We had to combine our ideas and solve problems like payment capture, for those who know how they work, by creating together something called a business payment protocol. We put a lot of work into taking this complicated world and turning it into a simple product that just works. It has many layers, but it's a really simple experience for merchants and buyers. So that's something to celebrate.

Starting this week, it's available to tens of thousands of merchants, and throughout this year, we'll be rolling it out to every merchant using Shopify Payments, which is great. Brands like Erewhon are already accepting USDC payments on Shopify. Is there accepting USDC payments on Shopify. Is there anything we can expect in the short term? Yes, later this year we will be offering a 1% cashback in the US.

we will be offering a 1% cashback in the US. for anyone paying with USDC in Base. Second, and I think this is what they've been waiting for. For anyone who loves to shop, Base Pay is fully integrated as a payment option in the Shopify checkout process . Woo!

We've covered a lot today. The new Base stack, the new feature-rich Base application , the importance of open protocols and how they can bring everything that matters to you over the internet, and the introduction of Base Account and Base Pay. And one of the things that excites me most about this vision, this future we are building, is how social networks in chains, the Base app, Zora, Farcaster, and XMTP have the potential to transform the creator economy. In essence, I believe that chained social networks can be a game-changer and return ownership and control to the creators, the people who have spent the last two decades making the internet what it is today. We're opening up access to the Base app right now, and we can't wait for you to try it.

We want them to win, to share, to build, and to experience this new economy. And then we want them to tell their friends and families about it. And for anyone watching this who isn't in yet, go to base.app and sign up. Join the waiting list.

In the coming weeks and months, we will be giving access to more and more people. It's still too early. We're just getting started, it's a new day one. But let 's keep building, keep creating, and keep being "based". Very good.

All. Everyone say "based" on the count of three Everyone say "based" on the count of three . 1, 2, 3...Based!