Bankless Coinbase Launches Base | SEC Sues Terraform Labs & Do Kwon | Spotify Token Gating | OpenSea vs. Blur
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Feb 24, 2023 The hosts dive into Coinbase's new layer 2 network, Base, exploring its potential to revolutionize DeFi. They analyze the SEC's lawsuit against Terraform Labs, revealing shocking allegations of fraud linked to the Terra ecosystem's collapse. The discussion extends to the competitive NFT marketplace, including Spotify's innovative token integration strategies. Additionally, they debate the distinctions between layer twos and side chains, highlighting security advantages. Listeners are also drawn into the challenges and positive strides amidst regulatory scrutiny.
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Coinbase Embraces Decentralization
- Coinbase launching Base, an Optimism-based L2, is a major crypto milestone.
- This signifies a shift towards decentralization and user sovereignty, onboarding millions to bankless tech.
Base and the Superchain Vision
- Coinbase's Base is a bet on the "superchain" vision, fostering interoperability between L2s.
- This approach prioritizes building bridges, not isolated ecosystems, within the Ethereum network.
Algorithmic Stablecoin Risks
- Don't ape into algorithmic stablecoins without understanding the risks, as seen with the Terra Luna collapse.
- Be wary of projects requiring trust in external parties or opaque mechanisms.