Coinbase engineer Jesse Pollak proposed the idea of ​​turning the company into a DAO but was rejected. Instead, Coinbase created its own Layer 2 blockchain, Base. 🚀 Base is built on Ethereum and can write bulk transactions to the main chain. In the first quarter of 2024, Base's transaction volume reached twice that of Ethereum and generated $56 million in revenue. 💰 Base hosts popular applications such as Uniswap, Chainlink and OpenSea. 📊 This has helped Coinbase's efforts to increase revenue diversification.