Web3 Watch: Base kicks off Onchain Summer 2.0

Coinbase’s layer-2 blockchain Base has welcomed the second iteration of its Onchain Summer, where it will be inviting builders and creators to bring more users onto the blockchain.

To mark the initiation of the event, Base will be hosting a month-long online hackathon beginning June 3 with 200 ETH (~$613,200). worth of rewards to be distributed to finalists. 

In total over the Summer, over 600 ETH (~$2 million) will be offered to creatives in the form of grants, prizes, and gas credits. 

Base launched its mainnet in August last year with Optimism’s OP stack and has quickly become one of the most popular L2s today. According to L2Beat, it currently has a TVL of $5.52 billion and an…

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