Base to Launch Domain Name System on ENS Infrastructure

On August 21, the Base team will launch the Basenames domain name system for its L2 solution, utilizing the Ethereum Name Service (ENS) infrastructure.

‘Very soon’ means…tomorrow

Get ready to claim your Basename https://t.co/NQd6aJV0MC

— Base (@base) August 19, 2024

According to the announcement, base.eth subdomains will be offered via a Dutch auction, with prices decreasing over 36 hours after launch.

“This will give everyone a fair shot at securing a name they love and prevent bots from snatching them up,” the developers explained.

Initially, the premium surcharge for names will be 100 ETH. Over the first 12 hours, this amount will decrease to 0.39 ETH, and then to 0.0015 ETH.

When Basenames launch, all names will be listed via Dutch auction with prices decreasing over 36 hours

This will give everyone a fair shot at securing a name they love and prevent bots from snatching them up

It’s almost time to build your Based profile pic.twitter.com/ynCQKKOuJs

— Base (@base) August 19, 2024

Basenames will allow users to replace traditional wallet addresses with readable subdomains in the format name.base.eth.

According to Base head Jesse Pollak, the system will simplify “building or existing” on the blockchain.

He noted that the network recorded a historic high of 4 million active addresses over the past week.

last week @base had an ATH of 4m active addresses

minted this moment on @DuneAnalytics on @base pic.twitter.com/kKCSS3OAl3

— Jesse Pollak (jesse.xyz) ?️ (@jessepollak) August 19, 2024

Base accounts for 50% of the total active addresses in Ethereum’s Layer 2 solutions, as confirmed by experts from the growthepie platform.

Wild, over 50% of active L2 addresses are on Base — And we track 19 Layer 2s! @base pic.twitter.com/pSAGWyWepZ

— growthepie.xyz ?? (@growthepie_eth) August 19, 2024

Earlier, on August 14, Coinbase hinted at the launch of a “wrapped” Bitcoin within the Base ecosystem.