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How to Use BASE Network: Coinbase’s Ethereum L2 on Optimism

What is Base Ethereum L2 solution?

Discover Base: Your Gateway to the Next-Gen Crypto World 

Base is a secure, economical, and developer-centric Ethereum Layer 2 solution designed to usher in the next billion onchain users.

Launched with the support of Coinbase, Base is on a mission to decentralize gradually over time. According to the team, they are committed to the ethos of decentralization, and see it as a cornerstone for building an all-inclusive, global cryptoeconomy.

Base has swiftly emerged as a key player among a crowded field of Ethereum layer 2 solutions, standing shoulder to shoulder with industry frontrunners like Arbitrum, Optimism, zkSync, Starknet, ImmutableX, Loopring, Metis, and Polygon. Within just days of its inauguration, Base had ascended into the top 5 in terms of total value locked (TVL), effectively quantifying the assets transitioned into and actively engaged within its app ecosystem.

Source: https://l2beat.com/scaling/summary

Boasting an impressive $300+ million in TVL, Base has quickly seized approximately 2% of the staggering $10.6 billion that spans all layer 2 networks. This is especially notable when compared to the massive TVLs of leading contenders Arbitrum and Optimism, who dominate with $5 billion and $2 billion, respectively.

The platform has already become a bustling hub for over 100 decentralized apps (dapps) and service providers. This includes key players in the DeFi landscape like Uniswap, Sushiswap, and Balancer decentralized exchanges, along with the Aave borrowing-and-lending services. Not to mention, wallet providers such as Exodus, Trust Wallet, and Brave, as well as pivotal infrastructure services like DRPC, Nansen, The Graph, and Etherscan, are also part of this flourishing ecosystem.

One particular Base application that was gaining significant traction recently is the social platform, Friend.tech and other newer projects such as Geckoway – a next-gen memecoin project that blends cutting-edge memecoin technology with values defined by ancient Gecko mythology such as unity, wisdom, and prosperity. Stay tuned for more on Geckoway in just a moment.

Source: https://geckoway.io/

Why Choose Base as Your Ethereum L2? 

Imagine an Ethereum L2 that seamlessly combines security, stability, and scalability, creating an optimal landscape for your decentralized applications (dapps). Base empowers you to effortlessly roll out any Ethereum Virtual Machine (EVM) code and attract users and assets from Ethereum L1, Coinbase, and various other compatible chains. Over 100k ETH has already been bridged over to Base with close to $200M in Total Value Bridged.

Source: https://dune.com/seeranalytics/base-mainnet-analytics

And guess what? Base offers you the power-packed EVM infrastructure at a mere fraction of the typical cost. You can get a head start by accessing cutting-edge Ethereum features like Account Abstraction (ERC4337), hassle-free developer APIs for gasless transactions, and revolutionary smart contract wallets.

Base is open-source and an architectural marvel, built on the MIT-licensed OP Stack and developed in partnership with Optimism. The base team is proud to be the second Core Dev team collaborating on OP Stack, they seem committed to making it a universally available public good.

In addition, if you are a dapp developer, you can also leverage Base to effortlessly integrate with Coinbase’s expansive suite of products and expansive user base. You’ll be able to enjoy streamlined Coinbase connections, effortless fiat conversions, and direct access to a global community of verified Coinbase users.

How to Seamlessly Integrate Base with Your Wallet

I’m going to demonstrate how you can start to explore the BASE ecosystem by showing you how to purchase my favorite meme coin on BASE. As I mentioned previously, Geckoway, which has the token ticker $GECKO is an ecosystem building on BASE. 

Geckoway is a meme-coin project inspired by Balinese Mythology where geckos are revered as messengers of blessings and symbols of prosperity. These adorable little creatures, with their ninja-like agility are the sacred hotline between the divine and us mortals. They’re the spiritual middlemen, connecting Mother Nature, the cosmos, and abundant prosperity. 

Gecko Token ($GECKO) is an open-source peer-to-peer digital meme currency designed to put a smile on your face. The Way of the Gecko is also a community of friends, living an abundant and prosperous life in harmony with nature and spirituality and memes. This is the reason why I love this project because they are honest about their intentions which is to create a feel-good community that will help the BASE ecosystem expand and we  all know meme coins have a cultural significance in the crypto industry. and DeFi. Love them or hate them – meme coins aren’t going away. 

I used to be one of those people that swore I would never purchase meme coins but now that I have been in the crypto market as long as I have, I now dabble a little bit, but only in projects that are transparent and aren’t rugpulls. So here are a few things I really like about $Gecko:

  • Fair Launch: 100% fair, no pre-sales, no whales, no BS!
  • Locked Liquidity: Totally secure trading and no rug pulls – just a fair launch and level playing field for all – the Gecko way!
  • 0% Fees: Maximize your profits in a cost-free environment.
  • Community-driven: Decisions made through decentralized governance.
  • They have a max total supply of 500M which is great compared to other meme coin projects with billions of tokens in circulation which just dilutes and limits upside price momentum. 
  • GECKO embodies a more holistic and community-driven concept. Geckoway introduces the “Store of Prosperity”. Holding GECKO tokens is about living the Geckoway ethos: humor, prosperity, unity, diversity, respect for nature and empowerment. It’s a badge of honor that represents a deeper and more meaningful connection between cryptocurrency and community values. 
Source: GoPlusLabs
  • GECKO’s smart contracts have undergone multiple audits by reputable third-party firms to ensure they’re robust and secure. Their development team follows best practices for contract development and maintenance. 
  • Roadmap – Their journey is just beginning. The roadmap outlines plans for the future, including ecosystem expansion, partnerships, and community-driven initiatives.  

Check out their Whitepaper for more details. Also don’t forget to follow Gecko on their socials especially: 

  • Twitter: https://twitter.com/geckoway_io 
  • Telegram: https://t.me/+wfaktBOxlMplODc1
  • Discord https://discord.gg/pd4JSfXF7x  

Ultimately, Geckoway and the Gecko token ($GECKO) is more than just a meme; it’s a movement. The Way of the Gecko is about the embodiment of unity, diversity and prosperity. Through blockchain technology, the Gecko token ($GECKO) empowers individuals and communities, providing a space for building shared values and making a better world. That is the gecko way.

Now let’s purchase some Gecko tokens and discover BASE. 

How to Buy $GECKO Tokens: A Step-by-Step Guide

Initial Setup 

For Users Already Using Coinbase Wallet:
  • Open your Coinbase Wallet browser extension and sign in.
  • Sync with an app using Coinbase Wallet.
  • Head over to the network icon at the top-right and click it.
  • Pick Base from the list, and voila! Your active network has now transitioned to Base.
For Other EVM-Compatible Wallets (e.g., MetaMask):

Install MetaMask: Go to metamask.io and install the MetaMask extension if you haven’t already. 

Source: https://metamask.io/

Navigate to the MetaMask browser extension and click to open.

Access the network dropdown menu at the top and click. Hit the ‘Add network’ button.

Choose ‘Add a network manually’ and populate the following details for Base Mainnet:

Click ‘Save’, and now you’re all set to engage with the Base ecosystem.

Now Copy your Wallet Address: Open MetaMask and copy your wallet address (0x….).

Proceed to Fund Your Account: Add ETH to your MetaMask wallet. Make sure you are aware of which network you’re on. Transfer ETH from your exchange account or other wallet to your MetaMask wallet address. In this demonstration we’ll be moving ETH from the Ethereum network into our wallet and then bridging the ETH to Base network. 

If you’ve never used a web3 wallet or bridged assets between different networks, no need to panic. Start with a small test transaction and then once you’ve mastered the process, you can make your intended purchase – big or small. In this example, I’m just going to show a test transaction for this video since I’ve already purchased my big bag of $Gecko already when I discovered the project. 

I’m going to transfer some ETH from another wallet to my MetaMask as you can see here. 

You can see my MetaMask balance is zero here since I’m using a new wallet for this tutorial so that you guys can follow step-by-step easily. 

Now when I refresh my wallet, you can see I have received the ETH to my ETH network address on my MetaMask. Make sure you are using the ETH network so that you can then bridge to BASE after.

The Base Bridge allows you to bridge ETH from Ethereum to Base and vice versa. You can move Funds to Base Network (Ethereum Layer 2) by simply visiting the following websites: 

Source: https://bridge.base.org/deposit

Connect your MetaMask wallet to the bridge. 

Deposit ETH into the bridge, but leave around some ETH in your wallet for future transaction fees. For example, here I only deposit $50 or 0.031 ETH from the 0.039 ETH I sent to my MetaMask wallet earlier. 

Confirm Transaction: Wait a few minutes for the transaction to complete.

Check the network fees. 

You can confirm whether your transaction has been processed via Etherscan.

As you can see here, the funds have been bridged to my Base network wallet in MetaMask. To see your balance, switch to Base network in your MetaMask.

 

Now you can go ahead and purchase digital assets issued on Base such as $GECKO.

To buy $GECKO which I think is one of top meme coin projects with the potential to make it big on Base, connect your web3 wallet such as the MetaMask which now has ETH on Base to a popular DEX like Uniswap. Visit app.uniswap.org and connect your MetaMask wallet.

Enter Contract Address: Paste the $GECKO contract address 

  • 0xeE9E3123dbb3AC5e75C65A1fC4617B2aCC082d85

Swap your ETH for $GECKO, but leave some ETH for future transaction fees. 

Confirm the swap.

Pay the gas fees, which are very minimal on the Layer 2 Base network.

As you can see here, the swap was successfully submitted and I got myself some more $GECKO tokens.

You can verify your transaction on BaseScan. 

You will also get confirmation on your Uniswap interface. 

As for the final step, Add $GECKO to MetaMask. Click “Add Token” in MetaMask or Import Token. Paste the $GECKO contract address: 0xeE9E3123dbb3AC5e75C65A1fC4617B2aCC082d85. 

Congratulations, you’re now a part of the $GECKO community! Remember, all $GECKO tokens in the liquidity pool are locked forever, ensuring a fair and secure trading environment. 

And there you have it guys… a complete guide on how to get started with Coinbase’s new blockchain Base where some of the hottest projects like $GECKO are launching. And once again, check out Geckoway. Go to Geckoway. This project is fascinating not only because it’s on course to probably become one of the biggest meme coins on Base. Remember, the project has a lot of cool things going for it: 

  • Locked Liquidity, the LP tokens are burnt forever, no chance of a rug. This can be verified on chain.
  • Fair launch – no pre-sale or team allocations. All tokens are minted and placed in the liquidity pool upon launch.
  • Holding GECKO tokens is about living the Geckoway ethos: humor, prosperity, unity, diversity, respect for nature and empowerment.
  • Gecko will be the Meme Coin of the Base Network. The team anticipates taking the project above $50M in marketcap soon through driving adoption of the Base network. They are also said to be on their way to 200 000 holders. 
  • Liquidity is moving from coinbase to the Base network. Holding $GECKO could be one way to benefit from this growth.
  • You’re super early at the moment. Gecko also has a 3 year marketing plan.

Follow $GECKO on Twitter.
Join the official Telegram.
Join the official Discord
How to BUY $GECKO Tokens

This guide is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments carry risks, and readers are encouraged to conduct their research and consult with financial advisors before participating in any cryptocurrency project. 

Stay BASED! 

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