Original Title: "Based Weekly Issue 011"
Original Author: goyabean
Original Translation: Wenlanbo, ChoeyGit, 183Aaros
The annual Onchain Summer has officially launched, injecting continuous vitality into Base. From the initiation of the Base Creative Challenge with a value of over $2 million, to the launch of the Bankr leaderboard, and the gradual formation of the AI-native economy of Virtuals Protocol, we are entering a season where "building the ecosystem = establishing a foothold."
This week's newsletter will delve into everything happening in the Base ecosystem, as well as information you might have missed over the past week, such as: the release of memecoins, building Mini Apps, sharing hot dog feasts for rewards, or accumulating $BNKR. Are you still keeping up with the newsletter and continuously building the ecosystem? It's not too late; now is the time to make your mark in the Base ecosystem!
Let’s dive into this week’s newsletter to learn more about what has happened.
The annual Onchain Summer has begun!
Onchain Summer 2025 has kicked off, marking the beginning of a celebration of blockchain creativity and innovation on Base. The third edition of the event will last throughout August, inviting developers, creators, and brand teams building NFTs, games, art, and music on-chain to join the experience. The total prize pool, funding, and gas fee subsidies will exceed 600 ETH (approximately $2 million) waiting to be won. Top developers will receive invitations to Basecamp and have the opportunity to showcase their talents at the Onchain Summer 2025 awards ceremony. Posts on X have created a vibrant atmosphere for this celebration, encouraging creators to actively register and submit projects, joining the wave of the Web3 summer carnival. Build what you love and reap generous rewards. Trust me, you deserve to participate; go get your holiday celebration invitation!
Stay updated on the latest information by following @base and visiting onchainsummer.xyz for event updates.
Recruitment for the Base Chinese Community Building Team
The Base Chinese Community Building Team was initiated by the vision of the CBB (Chinese Based Builders) community, and its existence is a commitment: to wholeheartedly create a Base Chinese community that stays true to its original intention (Stay Based)! We adhere to the principle of collaborative win-win and resource sharing, gathering the strength of all builders in the Chinese community, with one goal: to make the Base Chinese community a continuous source of vitality in the global Base ecosystem, an indispensable component!
The departments we plan to recruit are:
· Content Department (3 members): The voice shapers and knowledge beacons of the Base Chinese community
Produce high-quality original content; organize community members for content co-creation and sharing; manage content channels and optimize dissemination effects; capture hot topics, create discussions, and enhance community activity and influence, becoming core creators in the Base ecosystem.
· Research Department (3 members): The wise brain and strategic outpost of the Base Chinese community
Conduct in-depth research on Base ecosystem projects; analyze industry trends and dynamics; participate in project due diligence processes to deliver quality projects to Base; share professional perspectives and insights with the community.
· Art Department (3 members): The creative workshop and visual soul of the Base Chinese community
Design and create visual content related to Base (emojis, memes, illustrations, animations, etc.); collaborate with various departments for promotional materials and event visual design; explore new forms of artistic expression to enrich community culture.
· Events Department (3 members): The vitality engine and connection ambassadors of the Base Chinese community
Plan and organize online (such as Twitter Space and other podcast events) and offline (such as meetups, workshops, etc.) events; coordinate resources to ensure smooth event execution; evaluate event effectiveness and continuously optimize; design interactive segments to enhance participation.
· Project Department (3 members): The key bridge and growth driver between the Base Chinese community and the global Base ecosystem
Establish and maintain cooperative relationships with projects inside and outside the Base ecosystem; understand project needs and assist in their implementation and promotion within the Base Chinese community; collect and relay community feedback on projects; explore cooperation models to facilitate co-construction between the community and projects; connect potential quality projects to enter the Base ecosystem.
The Base Chinese Building Team will receive:
· Outstanding core members will receive priority support from the Base Chinese community and actively seek valuable display opportunities for them on the Base official platform.
· Excellent builders within the community will be prioritized and actively recommended to the Base official team, striving for their nomination as Base Ambassadors.
· Outstanding original content creators will receive priority assistance from the Base Chinese community and actively seek opportunities for them to participate in the Base Creator Incentive Program.
Click on the "Registration Form" to start our co-building journey! Welcome to join the Base Chinese community to contribute, communicate, and raise your questions.
Bankr Points Battle: $BNKR Bonus Frenzy
The Bankr leaderboard feature is now live, distributing 450 million $BNKR tokens to Bankr Club members over 120 days. Bankr has partnered with @cookiedotfun to create a unique Bankr points system that combines social data and on-chain metrics to determine reward distribution. To earn points, users must meet the following conditions:
Join the Bankr Club (monthly fee of $20 worth of $BNKR).
Hold $BNKR tokens.
Interact with Bankr on X (posting, engaging).
Enhance points through on-chain metrics, such as trading profit and loss (PNL), holding booster coins, or owning Bankr NFTs.
The reward distribution is as follows: 55% (247.5 million $BNKR) will be distributed as daily rewards to the top 100 users, along with weekly, monthly, and season-end rewards. The leaderboard measures engagement by tracking users' $BNKR holdings, trading activities, and social interactions. Data from cookie.fun shows that in the past three days, the number of holders has increased by +4.85%, and engagement has risen by +2.11%.
Virtuals Protocol Governance and ACP Beta Update
Agent Commercial Protocol (ACP) Public Beta
The public beta of the Agent Commercial Protocol (ACP) launched on July 3, 2025, aimed at helping people use AI Agents to manage a fully-fledged business by automating tasks and executing commands. It ensures that agent clusters (e.g., media companies, hedge funds) can execute tasks such as trading or content creation through:
· Agent Registry: A decentralized directory of agent services and metrics.
· Smart Contracts: Managing collaboration and payments using $VIRTUAL.
· Evaluators: Ensuring the protocol is fulfilled as scheduled.
Currently, over 17,000 agents and two clusters are online, and the public beta phase is still being refined, but feedback can be provided through @virtuals_intern on X, with official rewards based on the quality of feedback. Recent updates have improved task allocation and DeFi functionalities. Scalability and user experience issues still exist, but ACP aims to pioneer AI-driven business models, with veVIRTUAL holders as co-owners of ACP.
Wave-1 Governance Voting
The first wave of voting for the Virtuals Protocol has concluded, with three proposals passing with over 85% quorum. veVIRTUAL holders who locked $VIRTUAL for voting rights determined the outcomes:
Virtuals Foundation: A non-profit organization will be established to ensure transparency and accountability in the ecosystem. Voting audit address: gov.virtuals.io
Anti-sniping and Yield Fund: The launch protection mechanism governed by DAO has been formally established, distributing over $5.3 million worth of tokens to $VIRTUAL stakers. Voting audit address: gov.virtuals.io
Performance funding for Virgen Labs: 2% (up to a total of 6%) of the total supply of $VIRTUAL will be distributed as performance funding upon reaching milestones of $10, $20, and $40, ensuring zero inflation. Voting audit address: gov.virtuals.io
These proposals were passed in early July 2025, marking the official start of community governance efforts.
Veil.Cash Verification and Fund Pool Update
Veil.Cash is a privacy protocol deployed on Base using zk-SNARKs technology. The protocol announces that over 1 million Binance users holding Binance accounts and bound tokens (BAB Token) can directly access verified liquidity pools on Base by completing three simple steps. This integration enhances the privacy of users' on-chain transactions without leaving the Base ecosystem. Users must hold 2,500 $VEIL tokens and complete on-chain verification through EAS to participate. A new wallet liquidity pool has been launched. As Veil previously responded to the U.S. government's abandonment of the appeal against Tornado Cash, Veil views privacy as a part of human rights.
The following fixed-amount liquidity pools are limited to withdrawal operations: 0.005 ETH, 0.01 ETH, 0.05 ETH, and 0.1 ETH. Verified users are encouraged to join the new liquidity pools to continue using Veil's privacy protection features. https://veil.cash/wallet
Base Regional Head Recruitment Update
Base is recruiting a Regional Head for Poland to drive its ecosystem growth in Eastern Europe. The role focuses on building a community of project founders, developers, creators, and investors to promote the adoption of on-chain applications in the region. Ideal candidates are energetic social network builders with experience in blockchain projects and regional language skills. Please visit careers.coinbase.com to submit your application. Additionally, Base is also recruiting a Regional Head for Mexico to expand its influence in Latin America, with responsibilities similar to those of the Poland Regional Head, aimed at nurturing the community and promoting application adoption.
Hot Dog Enthusiasts Assemble: Log A Dog Season 2 is Live!
The second season of the Log A Dog event created by myk.eth launched on July 6, 2025. Upload selfies enjoying hot dogs on logadog.xyz on Farcaster for a chance to climb the leaderboard and win on-chain rewards. The event mechanics include:
· Photo to NFT: Each selfie will become a token minted on Zora, earning transaction fees on the Zora platform.
· $HOTDOG Clanker: Form trading pairs with tokens, and the generated revenue will be injected into the competition's prize pool.
· Review System: Stake tokens to review submitted content for rewards, and also receive penalties from malicious reviewers.
· Leaderboard Prizes: Creators at the top of the hot dog leaderboard will win rewards from the prize pool.
Start staking tokens to participate in content reviews via notifications on Farcaster, or upload your shares to join this quirky yet fun project led by myk.eth. https://logadog.xyz
On-Chain Insights from David Tso Newsletter
If you are looking for unique insights into the cryptocurrency space, check out David Tso (dave.base.eth)'s latest newsletter "The Future of Money Is Here," published on July 5, 2025, on Paragraph. It delves into:
· DEX trading is now live in the Coinbase app, simplifying access to DeFi.
· Fortune 500 giants like Shopify and JPMorgan are embracing the on-chain ecosystem and actively joining.
· Retailers like Autonomous Labs are enabling USDC checkout through Profiles.
· A teaser labeled "TBA" hints at upcoming developments.
https://paragraph.com/@cryptso/the-future-of-money
Bankr API Wallet Terminal Launch
Bankrbot adds new excitement: The Bankr API is launching, initially providing a free terminal that can instantly retrieve any Bankr wallet address within X or Farcaster accounts. This greatly simplifies the process of integrating wallet functionality into dApps, allowing developers to leverage the Bankr ecosystem for smooth user registration and transactions. Click the link to learn more: bankr.bot/api
Base Builder Challenge Season 7 Results Announced
On July 3, 2025, the Base Builder Challenge Season 7 concluded perfectly at the EthCC conference in Cannes. This challenge required developers to create Mini Apps using Base's building tools within 24 hours. Among 11 submissions, @Story91_ won 1 ETH with HowToBase Academy. HowToBase Academy is an interactive teaching platform that educates and popularizes the Base ecosystem through:
· NFT minting paid with USDC
· Spend Permissions and Sub Accounts
· Gasless transactions sponsored by Paymaster
· MiniKit push notifications
· Gamified achievements
Finalists @ozFather (Bard) and @adJAstra (Snacky Cat) split 1 ETH. The submitted works utilized tools like MiniKit, OnchainKit, Paymaster, and Spend Permissions to achieve a seamless user experience.
Click the link to start trying it out: https://how-to-base.vercel.app
Coinbase International Perpetual Futures
Coinbase International Exchange has reached a significant milestone, with open interest in its perpetual futures surpassing $1 billion as of June 30, 2025, growing tenfold since January. This reflects increased trader confidence, deepening liquidity, and rapid growth driven by newly listed tokens such as SAHARA-PERP and SYRUP-PERP. The exchange complies with CFTC regulations and offers nano-sized Bitcoin and Ethereum contracts, attracting traders from the U.S. and globally seeking leveraged exposure.
Coinbase Wallet Beta Open Invitation
https://app.deform.cc/form/a332685e-9685-4b8d-89cb-14107ada5386/?page_number=0
Base Weekly Review
This week’s exploration of the on-chain world comes to an end! From the 600 ETH prize pool of Onchain Summer, to the launch of Bankr's wallet API, the ACP Beta of Virtuals Protocol, the privacy pools of Veil.Cash, Base's recruitment in Poland, the hot dog feast of Log A Dog, David Tso's newsletter, and Coinbase International's $1 billion futures milestone, the entire ecosystem is vibrant.
Stay Based, stay true to your original intention!
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