Coinbase calls on developers to build inflation-linked stablecoins

2 years ago · Updated 2 years ago

✍️ 27 March, 2023 - 4:40 👤 Editor: Jakub Motyka

Coinbase has launched its new Base Network to create a more stable and efficient ecosystem for decentralized finance (DeFi) applications, and is calling on developers to build inflation-pegged stablecoins on its network.
Inflation-pegged stablecoins can maintain a stable value over time, making them more suitable for use in DeFi applications, and developers can leverage Coinbase's open-source framework and grant program to build the next generation of DeFi applications.

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Coinbase, the leading cryptocurrency exchange, has announced the launch of its new Base Network, which aims to create a more stable and efficient ecosystem for decentralized finance (DeFi) applications. To achieve this goal, Coinbase is calling on developers to build inflation-pegged stablecoins on its new network.

Coinbase's new Base Network is a significant development for the DeFi space, as it aims to address the challenges of traditional stablecoins and create a more reliable and sustainable ecosystem for DeFi applications. Traditional stablecoins are vulnerable to inflation or currency fluctuations, which can lead to price volatility and instability.

What Are Inflation-Pegged Stablecoins Coinbase Is Talking About?

Inflation-pegged stablecoins are a type of stablecoin that aims to maintain its value by tracking the inflation rate of a particular fiat currency. For example, a stablecoin that tracks the US dollar's inflation rate would increase or decrease its supply based on changes in the US inflation rate. This allows inflation-pegged stablecoins to maintain a stable value over time, making them more suitable for use in DeFi applications.

The introduction of inflation-pegged stablecoins on the Coinbase Base Network is a significant development for the DeFi space. Currently, most stablecoins are either pegged to a single fiat currency or a basket of currencies, making them vulnerable to inflation or currency fluctuations. By introducing inflation-pegged stablecoins, Coinbase is offering a more stable and reliable alternative that can better serve the needs of DeFi applications.

Details About The New Coinbase Base Network

So, how can developers get involved in building inflation-pegged stablecoins on the Coinbase Base Network? Coinbase has created an open-source framework called Rosetta that allows developers to easily build and integrate new cryptocurrencies with the Coinbase platform. With Rosetta, developers can create new cryptocurrencies with minimal effort and leverage the robust infrastructure of the Coinbase platform.

Additionally, Coinbase is offering a $1.1 million grant to developers who build new inflation-pegged stablecoins on the Base Network. This grant is part of Coinbase's ongoing effort to encourage innovation and development in the DeFi space and build a more sustainable and reliable ecosystem for decentralized finance.

The launch of the Coinbase Base Network and the call for developers to build inflation-pegged stablecoins is a significant development for the DeFi space. By offering a more stable and reliable alternative to traditional stablecoins, inflation-pegged stablecoins can help create a more efficient and sustainable DeFi ecosystem. Developers who are interested in getting involved in this exciting new space can leverage Coinbase's open-source framework and generous grant program to build the next generation of DeFi applications.

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Juan Pais

E-mail: juan@criptokio.com

ES: Por mi trabajo de redactor siempre he escrito para otros temas pero la verdad es que a día de hoy lo que más me apasiona es el tema de las criptos. Tengo conocimientos tanto en criptomonedas y wallets como de airdrops y exchanges.

Poseo wallet en Coinbase y Trust Wallet, y cuentas en una variada cantidad de exchanges como Satoshi Tango, Binance, Crypto, Ripio, entre otras.

EN: EN: Because of my work as an editor I have always written for other topics but the truth is that today what I am most passionate about is the topic of cryptos. I have knowledge in both cryptocurrencies and wallets as well as airdrops and exchanges.

I have a wallet in Coinbase and Trust Wallet, and accounts in a variety of exchanges such as Satoshi Tango, Binance, Crypto, Ripio, among others.