ReportWire

Tag: L2

  • Goldfinch community approved deployment on Base L2, GFI up 14%

    Goldfinch community approved deployment on Base L2, GFI up 14%

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    Governance members agreed that launching Goldfinch’s defi loan service on Coinbase’s decentralized network would be beneficial and help to onboard more users.

    The community behind Goldfinch, a defi lender, reached quorum to deploy the protocol on Base, a layer-2 blockchain launched and backed by major crypto exchange Coinbase. Next, the project’s governance council will hold a soft vote before developers draft and audit the actual code for this update. 

    Finally, the council will activate Goldfinch on Base by shipping the deployment smart contract code through a multi-sig wallet. 

    The protocol’s native token GFI jumped 14% on Dec. 1 following the news, trading at $1.74 when this report was written.

    GFI price | Source: TradingView

    Before its approved launch on L2 Base, Goldfinch was exclusively available on Ethereum’s blockchain. However, the project’s co-founder Blake West, and engineering manager Greg Egan argued for expansion to a blockchain with cheaper transaction fees.

    From a business standpoint, we believe Base will continue to improve and Coinbase will expose more and more of their 100M+ user base to Base apps. Goldfinch can take advantage of this as a customer acquisition channel.

    Goldfinch on Base proposal

    Ethereum, while a long-standing pillar in the blockchain industry, is infamous for expensive gas fees. This high cost of moving assets on-chain was a stumbling block to greater adoption until the advent of scaling solutions like Base commonly known as L2s.

    L2s can handle transactions at far cheaper rates compared to Ethereum’s mainnet while retaining the transaction security synonymous with crypto’s biggest defi chain. Base in particular has garnered on-chain activity and climbed to over $300 million in total value locked since its launch by Coinbase on Aug. 9.

    This makes Base the only decentralized network released by an American publicly traded company and the third-largest layer-2 network according to DefiLlama at press time

    In other Goldfinch news, the project marked the complete repayment of its genesis loan issued to Fazz Financial.


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    Naga Avan-Nomayo

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  • Base launches boot camp to train blockchain developers

    Base launches boot camp to train blockchain developers

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    Coinbase’s layer-2 (L2) network, Base, has launched an eight-week training course to turn traditional software developers into blockchain developers.

    The Base network, part of the broader Coinbase ecosystem, has announced the launch of Base Bootcamp. It is an intensive, eight-week program designed to turn traditional software developers into proficient, smart contract developers. 

    The Base Camp program aims to bring more people into blockchain technology. The current number of on-chain developers sits at less than 30,000, while over 30 million work in software development as a whole, according to the L2 network. This initiative aims to bridge this gap and make a new ecosystem that’s open and global.

    With the help of experienced engineers and mentors, the Bootcamp will be hands-on and collaborative, so participants can feel like they’re learning with someone rather than sitting back in a lecture hall.

    Only 20 students will make it into each cohort to ensure room for personal attention. Also, each person will meet their mentor and have access to office hours if they need help troubleshooting something. 

    Additionally, students will get permission to join a special Discord channel where they can connect with their classmates, Coinbase engineers, and mentors.

    For their final project, participants must complete a real-world decentralized application (dapp) using learning tools made by Base engineers.

    The program is designed to accommodate full-time professionals. It offers flexibility for participants to work at their own pace and arrange meetings with their mentors based on their schedule.

    According to the L2 network, Base Bootcamp isn’t just a learning journey, but a pathway toward becoming an integral contributor to the new internet and helping to build the on-chain future. 

    Applications for the upcoming cohort will close on Oct. 27, signaling an opportunity for developers to pivot into the world of blockchain technology.


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    Julius Mutunkei

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