# Based Weekly 003

> Edition 003

**Published by:** [Based Weekly](https://paragraph.com/@based-media/)
**Published on:** 2025-05-11
**Categories:** base, coinbase, blockchain, ethereum, nft, defi
**URL:** https://paragraph.com/@based-media/based-weekly-003

## Content

This week, Ethereum’s long-awaited Pectra upgrade sent $ETH soaring, Coinbase dropped bombs with a $2.9B acquisition and 24/7 futures trading, and the Base ecosystem saw massive momentum with launches like Panoptic, Magic Newton, and the new Flaunch v1.1. From stablecoin leaps to LEGO sets onchain, it’s clear the onchain future is here—and it’s moving fast. Let’s dive in.Ethereum’s Pectra Upgrade Ignites $ETH Rally The Pectra upgrade, activated May 7, 2025, supercharged Ethereum with EIP-7702 for smart accounts, doubled blob capacity for Layer 2 scalability, and higher staking limits. This fueled a 32% surge, pushing $ETH past $2,500, with bullish momentum still strong.Coinbase Dropped Major Announcements This Week Deribit Acquisition Boosts Derivatives Play. Coinbase acquired Deribit for $2.9 billion, expanding into crypto options and futures markets to strengthen its global footprint and cater to institutional and retail traders. The deal drove a 6.8% stock jump despite Q1 earnings missing expectations. Looking to build the most powerful global crypto platform—bringing spot, futures, and options together under one roof...probably nothing. The Launch of x402 Protocol Coinbase unveiled the x402 payment protocol for instant stablecoin transactions over HTTP and introduced 24/7 Bitcoin and Ethereum futures trading on its CFTC-regulated exchange, marking a first for U.S. markets. Coinbase Futures: 24/7 Trading Unlocks Non-Stop Opportunities 24/7 trading for futures is here in the US. Trade Bitcoin and Ethereum futures on your time — any hour, any day. The market doesn’t sleep, and now, neither do your opportunities. Next up: Perpetual futures. Stay tuned.Panoptic Launches on Base: A Game-Changer for DeFi Traders Panoptic, the DeFi perpetual options platform on Uniswap, has launched on Base, bringing a two-week trading competition with $5,000 cash, 5M Pips, and a Rilakkuma plushie. Base’s low fees and speed make it perfect for building gas-efficient options strategies, whether you’re hedging, farming, or chasing upside. Traders can short, speculate, and put assets to work, while LPs unlock new yields and avoid impermanent loss. This launch is a game-changer for the Base ecosystem!Effortless Options Trading on Any AssetPanoptic is a decentralized platform allowing users to trade options on a wide range of cryptocurrencies. It offers a transparent, secure environment for both beginners and experienced traders, emphasizing user-friendly features alongside advanced trading options. This platform aligns with blockchain's principles of decentralization and innovation, removing the reliance on centralized financial institutions.https://app.panoptic.xyzStripe’s Stablecoin Leap: 101 Countries—Crypto Payments Get Real Stripe just launched Stablecoin Financial Accounts in 101 countries, letting businesses hold, send, and receive USDC and USDB like regular bank accounts. It's a big step after buying Bridge for $1.1 billion, but oddly, the U.S., EU, and UK aren't included—maybe due to regs or strategy. This fits with the trend of traditional finance embracing stablecoins, like Circle cheering Stripe's USDC move. Exciting times for crypto payments!Virtuals’ Genesis Program Upgrades Fuel Token Soars and Reward Conviction First, the Diamond Hand Bonus is now live! Hold your Genesis tokens, and you earn free Virgen Points every 24 hours. You must claim them manually, and the longer you hold, the more points you get. This is Virtuals’ way of rewarding true conviction and discouraging short-term flips. Second, the points expiration period has been shortened from 30 days to 14 days. Originally extended for early users to adapt, this change ensures a faster rotation of points, keeping the economy dynamic and preventing point hoarding. It’s all about active participation and fairness as the ecosystem grows. But here’s the kicker: Virtuals is serious about stopping “jeeters.” Selling Genesis tokens too soon (within 24 hours) penalizes your Virgen Points, pushing you into “Jeet Jail.” This system ensures only genuine contributors benefit, not those looking for quick gains. With a 24-hour presale, max 0.5% allocation per user, and refunds for failed launches, Genesis prioritizes long-term holders and ecosystem builders. For a step-by-step guide on getting started, check out my thread here: goyabean.base.eth⌐◨-◨.9dcc @goyabean_eth Ultimate Guide to Virtuals Virgen Program & Genesis Launches I'll admit that I've been sleeping on @virtuals_io lately. After witnessing many explosive runs come out of the Genesis launches I figured I need to deep dive. Want to dive into @virtuals_io’s ? Here’s everything 14 11:07 AM • May 7, 2025 Magic Newton: Your AI-Powered Crypto Copilot on Base Magic Newton, launched on Coinbase’s Base network, is your AI-driven "crypto copilot" that simplifies onchain interactions. Just tell it what to do in plain language—whether it’s staking, trading, or optimizing yields—and it handles the rest, all while keeping your assets secure with verifiable, zero-knowledge proofs. Built by Magic Labs (behind 50M+ wallets), it’s part of a wave of AI projects on Base, like Virtuals and Panoptic, riding Ethereum’s Pectra upgrade and the Layer 2 boom. Think of it as financial freedom on autopilot, minus the complexity.Building Mini Apps on Base? Here’s Your Playbook/ If you’re diving into mini app development on @base and feeling lost, @davidtsocy just dropped the ultimate guide. With @CoinbaseWallet’s big update dropping soon, distribution is about to skyrocket. Want to reach users and grow fast? Mini apps are coming to the new Coinbase Wallet, and here’s everything you need: https://paragraph.com/@cryptso/mini-apps-guide $CLONES: Tokenized Rare LEGO Star Wars Sets Hit BaseX user @0xnobi announced $CLONES, the first tokenized rare LEGO Star Wars sets on Base! Burn 20B tokens to redeem one set, with only 5 redemptions ever available starting July 8, 2025. It’s a unique blend of nostalgia and crypto, turning collectibles into onchain assets. Don’t miss your chance to own a piece of Star Wars history! https://flaunch.gg/base/coin/0xc566a538bae72db63744f4ffa579e6ab50718062Base’s Virtual Demo Day: Spotlighting Based Builders virtual Demo Days launched by @nickcryptopro is showcasing the best builders in the ecosystem, with some actively raising funds.Whether you’re building on Base or just starting, apply here to get your project featured, gain exposure, and receive expert feedback: https://docs.google.com/forms/d/e/1FAIpQLScGD0sfeK6rPeIGqgAycQK_BNNmxjl75Zqbg_EhFRZkpq2p4g/viewformThis just in... Starting today, @compassdotfun will be doing weekly mini app demo videos to showcase the power of mini apps and social distribution on @farcaster_xyz Compass @compassdotfun This week’s mini app spotlight is @paperview_media by @0x_Lucas and @eabnelson on @farcaster_xyz Paperview is the new way to share content Post anything from alpha to tasks, just set your own price, and get paid instantly in USDC 0 4:46 PM • May 11, 2025 Upcoming Drops on base To Look Out ForDX TERMINAL Mint your army of AI Traders on Base 05/13. Clock in, Crash Out. DX Research Group @DXRGai Mint your army of AI Traders on @Base 05/13. DX Terminal: Autonomous Economy. Clock in, Crash Out. 473 10:00 AM • May 6, 2025 Noortopia The first-ever black & white PFP collection—launching on Opensea this Friday 05/16Thanks for tuning in to Based Weekly! Hope you’ve enjoyed this edition — if you did, be sure to leave a like, follow, and share with your fellow frens. And if you’re feeling extra based, consider picking up some $BM — where 80% of trading fees go back to supporting the community.Stay based. Stay onchain. See you next week. -GoyabeanƒlaunchProgrammable Memeconomies on BASEhttps://flaunch.gg

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