Coinbase One aims to create the “ultimate” crypto membership – one that has various benefits in the Coinbase app, and also extends to the broader ecosystem.
Coinbase (NASDAQ:COIN) noted this product will be rolled out fully over the next few days.
As explained in a blog post, Coinbase One members unlock various onchain deals when they “connect any wallet to their membership.”
With partnerships across the Base ecosystem, including trading, social, DeFi, and NFT dapps, exploring onchain can potentially be a rewarding experience.
This product may help clients transact, save, and “create onchain with lower fees.”
Other benefits:
- Base: Members get free gas on Base (up to $10 per month) and a complimentary 5+ letter Basename claim.
- Definitive: Definitive’s trading platform lets you trade every token on Base, Solana and more. Route your trades across 100+ onchain liquidity pools and leverage TWAP, Limit and Stop Orders. Get zero trading fees on your first $50K in trading volume.
- OpenCover: Manage protocol-related risks to your onchain portfolio with OpenCover, the #1 provider of discretionary crypto cover on L2. Get 10% off the Base DeFi Pass and your first cover for free up to $1,000.
- Coming soon, Uniswap Labs: Access hundreds of thousands of tokens on the largest decentralized exchange across Ethereum, Base, Arbitrum, Unichain, and 8 more chains.
Some other features:
- Aerodrome: Aerodrome is a decentralized exchange on Base. Lock AERO to vote onchain and get rewards. Every four weeks, users with new locks of 2500+ veAERO share in a Flight School bonus, and Coinbase One members’ locks are weighted 30% higher.
- Moonwell: Moonwell is a decentralized lending protocol on Base. Get a portion of up to 1.8M in WELL incentives when you deposit USDC, ETH, EURC, or cbBTC into Moonwell’s Flagship and Frontier Vaults.
- Morpho: Morpho is a decentralized lending protocol. Earn a portion of up to $58K in extra MORPHO incentives for Coinbase One members when you deposit into any Morpho vault on Base.
- PancakeSwap: PancakeSwap is a decentralized exchange across Base, BNB Chain, and Arbitrum. Members trading over $100 in volume on any of the three chains get a portion of a $8,453 CAKE airdrop every two weeks.
- DIMO: Access vehicle insights, connect to an ecosystem of apps, and earn weekly rewards, all while keeping your driving data private and secure. Mint your car onchain to get 50 $DIMO, plus enjoy 20% off a DIMO car adapter to maximize your rewards. For a limited time, get a free pair of DIMO x Base socks with every order.
- Sofamon: Sofamon is your personal chat sticker. Customize your avatar and dress it up with wearables. Coinbase One members get a free spin to win rare coinbase wearables.
- Zora: Create and trade coins on Zora. Get 1111 sparks free (equivalent to .001111 ETH) to buy and trade images, videos, memes, and more.
Coinbase One members will reportedly be offered “zero trading fees, boosted rewards, priority support” for one monthly price.
Now with various onchain benefits, members can maximize their savings even when they’re not on the Coinbase app.
It’s unclear just how useful this product update from Coinbase will actually be in the long-term. But it appears to be a step in the right direction because the web3 and crypto ecosystem really needs more practical solutions that people actually find helpful on a daily basis.
If these products are used by consumers in a meaningful manner, then they can help increase crypto adoption, which is one of the main goals that Coinbase and other players like Crypto.com are focused on as well.
