Covalent, a Web3 data provider trusted by a community of 40,000+ developers and powering data for 5,000+ applications, announced today that it is working with Coinbase to support the testnet launch of Base, a new Ethereum L2 incubated by Coinbase that aims to offer a secure, low-cost, and developer-friendly way to build dapps on-chain Built to serve as both a home for on-chain Coinbase products and an open crypto ecosystem for third-party developers, Base successfully launched today via the Görli testnet and published an aggressive roadmap to reach mainnet in 2023. As a Web3 data platform,  Covalent will provide in-depth on-chain data for Base’s testnet and will play an active role in monitoring its development phase.

Base is built on the OP Stack in collaboration with Optimism, and seeks to accelerate interoperable standards for Ethereum L2s. Through this exciting collaboration, Covalent will access a fresh data pool via Base from scaling solutions built upon Ethereum, extending its tremendous breadth spanning 80+ supported blockchains including alternative sources (app chains, L2s, etc), and impressive depth by ensuring all data is captured from the genesis block. 

"We are thrilled to support the testnet launch of Base, a leader in the cryptocurrency space," said Covalent CEO, Ganesh Swami. "This collaboration is a testament to our commitment to providing our customers with the most comprehensive and accurate data possible, and we look forward to contributing our resources and expertise in the development of this groundbreaking new project that will benefit the entire crypto community. "

A significant milestone in scaling the crypto economy, Base sets a new precedent as a Layer 2 roll-up promoting an on-chain culture that is open-source, decentralized, and collaborative. Beyond Coinbase products; developers, wallets, and dApps will all benefit from the resources available on Base – aligning with Covalent’s mission of empowering Web3 developers and enhancing the overall blockchain ecosystem. Notably, Base seeks to advance the permissionlessness of the Ethereum blockchain and aims to progressively decentralize over time.

“We are excited to launch Base with an incredible group of collaborators including Covalent to make it easier for developers to build really useful decentralization applications with on-chain data.” – Jesse Pollak, Base Lead

To learn more about Covalent visit covalenthq.com or follow @Covalent_HQ on Twitter.