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Coinbase’s Base Network Launches ENS Subnames for Users

Twitter icon  •  Published 4 weeks ago  •  Hassan Maishera

Ethereum-based L2 network Base has introduced subnames based on the Ethereum Name Service infrastructure.

TL;DR

  • The L2 network Base has introduced subnames based on the Ethereum Name Service infrastructure.

  • The subnames will be offered through a Dutch auction.

Base Introduces Basenames

Base, the L2 network developed under crypto exchange Coinbase, has introduced subnames created through the Ethereum Name Service infrastructure. 

The subnames, called Basenames, allow users to convert their complex hexadecimal addresses into human-readable names. The team describes Basenames as a core on-chain building block that enables anyone to establish their identity on Base.

Furthermore, Basenames will be offered to users to purchase and claim via a Dutch auction. The team revealed that prices will decrease over 36 hours, allowing users to secure a particular name. 

For the Basenames, the premium fee will commence at 100 ETH and decrease to 0.39 ETH within the first 12 hours. As soon as the Dutch auction ends, Base will not charge premium fees for the Basenames.

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.