Coinbase has introduced Cardano’s Ada
These assets are fully supported by ADA and LTC locked up in Coinbase guardianship, beaten and burned on request against one-on-one ratio, with regular proof-of-reserves to support the claims. Data shows more than 11,300 packed LTC and 2.9 million packed ADA have already been beaten and are actively circulating.
Coinbase has previously published versions of Bitcoin
Ether, XRP and Dogecoin (based on, creating one of the most extensive cross-chain ecosystems in layer 2.
Wrapping tokens dissolve the interoperability puzzle. ADA and LTC are native to other block chains and cannot be used directly on Ethereum or dependent layer 2s, such as base.
With the help of packaged tokens, however, holders and users can communicate in Onchain activities such as yield agriculture, liquidity pools, trade and loans – all without selling their original tokens.
The total value of Base -locked (TV) is just over $ 3 billion from Thursday, and ecosystem projects can offer liquidity infringements for these newer assets to record value (and to make reimbursements in the process).
Read more: Coinbase unlocks Defi opportunities for XRP and Dogecoin holders based
