Coinbase’s Network Base Prepares For Launch 🚀

GM. This is Degen Scoop. It’s Friday with our final edition of the week. Here’s the scoop:

• Coinbase’s Network Base Prepares For Launch 🚀

• Reserve Receives License to Operate in Venezeula 🇻🇪

• Melania Trump NFT Drop on July 4th 🎆

• Whale Moves 🐋

• Threads You CAN’T Miss 🧵

The Layer-2 Network Base From Coinbase is Preparing For Mainnet Launch

One of the highlights of the past year is the prevalence of layer-2 networks built on Ethereum. Both Arbitrum and Optimism have fared very well and do better than many other alternate Layer-1 networks. It makes sense why Coinbase would opt to build a layer-2 network upon the most trusted smart contract chain as opposed to their own L1.

In a recent audit contest, over 100 people checked over the code and weren’t able to find any issues. For those that do not know, Coinbase is building their network with the same code that underlies Optimism, the OP stack. The exact launch date remains under wraps as the Coinbase team works on the finishing touches for their new L2. Base, if it can bring builders, will prove to be another revenue stream for Coinbase whose stock has performed well in recent days.

Reserve Protocol Obtains OFAC License to Operate in Venezuela

We here at Degen Scoop are always happy when we see crypto institutions going through TradFi to succeed. To be able to obtain a license through OFAC goes to show that crypto has a place and utility. Their investment into the Curve Wars seems to already be paying dividends as the protocol entrenches themselves in the crypto ecosystem.

There are plenty of reasons to hate crypto such as that of Do Kwon or 3AC and the havoc they have wreaked on the industry. But if you can move past the grifters, there are things of value being built if you look hard enough. We’re wishing Reserve Protocol the best of luck in their endeavors.

Melania Trump Announces NFT Drop on Solana for July 4th

The Trump NFTs remain infamous to this day, but plenty of degens made money in trading them. Considering their launch success, these new NFTs coming from Melania will almost certainly be a trading target as well. Melania’s collection, known at ‘The 1776 Collection’ will sell for $50 on Solana to commemorate the 4th of July. Total supply of the collection will be 3,500 NFTs.

For those that do not remember, the Trump collection sold out within 24 hours despite there being 45,000+ in the collection. It wouldn’t be a surprise to see a quick sellout of this rather small collection in comparison despite the bear market woes.

Notable NFT Sales in the Last 24 Hours:

Notable Threads You May Have Missed:

Meme of the Day

If you think your memes are better, submit them to the newsletter and get featured for your work!

Conclusion

Touch grass, hit the gym, and don’t forget about what’s really important outside of magical internet coins.

Thank you for reading, if you enjoyed this please subscribe if you haven’t already! If you’ve already subscribed, please consider sharing this!

DISCLAIMER: This newsletter does not constitute financial advice. This is strictly educational and should not be used to make any financial decisions. Be responsible and do proper due diligence before aping.