We are submitting this proposal to the community for the deployment of dForce protocols on Base (both testnet and mainnet).
Base is an EVM-equivalent L2 built on the OP Stack in collaboration with Optimism.
Some of the highlights of Base are:
- Secured by Ethereum: Base is built with the security and scalability developers need to power their decentralized apps.
- Empowered by Coinbase: Base makes it easy to build decentralized apps with access to Coinbase’s products, users, and tools.
- Big features, small fees: Base offers full EVM compatibility at a fraction of the cost and is committed to pushing forward the developer platform.
- Open source: Base aims to be decentralized, permissionless, and open to anyone with the vision of creating a standard, modular, rollup agnostic Superchain powered by Optimism.
Base is incubated inside of Coinbase and will serve as both a home for Coinbase’s onchain products and an open ecosystem for permissionless development.
EVM equivalence & Developer Friendliness. Base offers full EVM equivalence at affordable cost and is committed to pushing forward the developer platform. It requires little development work for the deployment of dForce on Linea, allowing us to migrate existing protocols without the hassle of changing code or rewriting smart contracts.
The potential to capture the inflow of new users from the off-chain world. Base aims to be an open ecosystem bootstrapped with Coinbase products, users, and assets. Today, Base boasts a TVL of $149m with 56 live products, ranking 17 on DeFiLlama. By deploying dForce on Base, it creates various revenue opportunities for dForce, allowing dForce to leverage Coinbase integrations and fiat onramps, and access to 110M+ uses and $80B+ assets in the Coinbase ecosystem.
Value alignment. Base is building towards trustless and decentralized financial infrastructure that is accessible to anyone regardless of identity or location, which is in alignment with dForce DAO core intiatives.
In addition, dForce offers a full range of DeFi products (asset, lending, DEX, bridge) which can increase the DeFi diversity and strengthen the network resilience for Base.
Deploy a complete set of dForce protocols on Base.
- Perform infrastructure/technical assessment.
- Perform risk/liquidity assessment for assets to be supported.
- Prepare DIP based on community feedback and include risk parameters based on risk evaluation result.
- Submit the DIP on Snapshot for final approval.
- Deploy dForce on Base mainnet (& testnet if applicable) if consensus is reached.