Coinbase has announced a new wave of onchain benefits for its Coinbase One members aimed at promoting the usage of the Base Layer-2 network and partner dApps.
New Benefits for Coinbase One Members
Coinbase is introducing new onchain benefits for its Coinbase One membership, designed to enhance low-cost transactions and cross-chain activities. These benefits extend to the Base Layer-2 network and partner dApps such as Definitive and OpenCover.
Potential Rise in DeFi Participation
While no direct market reactions from key opinion leaders have been publicly shared, there is an evident potential for increased trading volume and DeFi participation. The expected introduction of new benefits could lead to greater activity with Base ecosystem tokens like ETH, as historical data suggests similar measures may boost user engagement.
Comparing Coinbase's Model to Industry Loyalty Schemes
Coinbase’s model is reminiscent of existing subscription programs like Binance, which offer trading discounts. However, Coinbase’s approach focuses on providing real financial rewards, indicating a shift towards more comprehensive member benefits. Experts predict enhanced liquidity and higher user activity within the Base L2 ecosystem.
The introduction of new onchain benefits for Coinbase One members could significantly impact platform usage and, by extension, the economic freedom within the cryptocurrency sector.
