Six Initial Investments of Coinbase Ventures’ Base Ecosystem Fund

The Base Ecosystem Fund boasts over 800 funding applications.

Coinbase Ventures has taken the first step in its investment journey with the Base Ecosystem Fund, handpicking six promising projects to support. While the exact investment figures remain undisclosed, rest assured that these carefully chosen projects align perfectly with Coinbase Ventures’ commitment to nurturing early-stage initiatives within its incubated Base network.

  • In its recent blog update, Base has announced that its ecosystem fund received over 800 funding applications since March of this year.
  • The chosen initiatives comprise Avantis, an oracle-based synthetic derivatives protocol; BSX, an institutional-grade derivatives DEX; Onboard, a self-custody wallet; OpenCover, an L2 insurance aggregator; Paragraph, an on-chain creator platform; and Truflation, an on-chain financial oracle.

“With more than 800 applications received, we appreciate the dedication and hard work that numerous builders have poured into their submissions. We’re thrilled to back this initial set of teams in our joint endeavor to usher the world onto the blockchain and advance global economic freedom.”

  • Ethereum’s Optimism-based layer-2 network went live in early August, following Coinbase’s earlier announcement of its development.
  • In subsequent weeks, Base unveiled numerous integrations, propelling its TVL above $400 million, marking a growth of over 170% in under a month.
  • Nevertheless, Base encountered its inaugural major outage since its public launch last month, with no new blocks generated on September 5th for nearly 45 minutes.
  • Shortly after this incident, the layer-2 network’s TVL dropped by approximately 7%, declining from $411 million to $383 million.
  • Additionally, the network has witnessed an influx of fraudulent activities and counterfeit tokens.


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