Onchain Summer is officially in session, and the chain is buzzing with energy. From Base’s $2M+ creative challenge to the launch of the Bankr Leaderboard and the Virtuals Protocol’s AI-native economy taking shape, we’re entering a season where shipping = status.
This week’s edition dives deep into what’s happening across and what you've missed the past week — whether you're launching meme coins, building mini apps, guzzling glizzies, or just stacking $BNKR. If you’re here, you’re early. And if you’re building, now’s the time to make your mark.
Let’s get into it 👇
Onchain Summer 2025 is live, kicking off a celebration of blockchain creativity and innovation on Base. This third edition, running through August, invites builders, creators, and brands to craft onchain experiences like NFTs, games, art, and music, with over 600 ETH (~$2M) in prizes, grants, and gas credits up for grabs. Top builders get invites to Basecamp and recognition at the Onchain Summer awards ceremony. Posts on X highlight the vibe, with creators urged to register and ship projects to join the Web3 onboarding wave. Ship what you love and be rewarded. From experience I will say...you want that invite!
Be sure to stay up to date by following @base and checking in at onchainsummer.xyz
The Bankr Leaderboard is live, distributing 450,000,000 $BNKR over 120 days to Bankr Club members. In partnership with @cookiedotfun, a unique Bankr Score combines social data and onchain metrics to determine rewards. To earn, users must:
Join Bankr Club ($20/month in $BNKR).
Hold $BNKR tokens.
Engage with Bankr on X (tweets, interactions).
Boost scores via onchain metrics like trading PNL, holding booster coins, or owning Bankr NFTs.
Rewards are split with 55% (247.5M $BNKR) as daily payouts to the top 100, with weekly, monthly, and end-of-season prizes. The leaderboard tracks commitment through $BNKR holdings, trading activity, and social engagement, with data from cookie.fun showing +4.85% holder growth and +2.11% mindshare increase in the past three days.
Agent Commerce Protocol (ACP) Public Beta
Launched July 3, 2025, the ACP Public Beta enables AI agents to autonomously transact and operate as onchain businesses. It supports agent clusters (e.g., media houses, hedge funds) for tasks like trading or content creation via:
Agent Registry: A decentralized directory for agent services and metrics.
Smart Contracts: Govern collaboration and payments in $VIRTUAL.
Evaluators: Ensure agreement fulfillment.
With 17,000+ agents and two clusters live, the beta is rough but invites feedback via @virtuals_intern on X, offering rewards. Recent updates improve task routing and DeFi functions. Scalability and UX issues persist, but ACP aims to pioneer AI-driven commerce, with veVIRTUAL holders as co-owners.
Wave-1 Governance Voting
Virtuals Protocol’s Wave-1 voting closed with over 85% quorum, passing three proposals. veVIRTUAL holders, locking $VIRTUAL for voting power, shaped the outcome:
Virtuals Foundation: Sets up a non-profit for ecosystem transparency and accountability. Vote at gov.virtuals.io.
Sniper Defense & Yield Fund: Formalizes DAO-governed launch protection, delivering $5.3M+ in tokens to $VIRTUAL stakers. Vote at gov.virtuals.io.
Performance-Based Grant to Virgen Labs: Grants 2% of $VIRTUAL supply at $10, $20, $40 milestones (up to 6% total), only if hit, ensuring zero inflation. Vote at gov.virtuals.io.
Proposals passed in early July 2025, kicking off community governance. https://app.virtuals.io/referral?code=e47hGw
Veil.Cash, a privacy protocol on Base using zk-SNARKs, announced that over 1M Binance users with a Binance Account Bound (BAB) Token can now access verified pools in three clicks, directly on Base. This integration enhances user privacy for onchain transactions without leaving the Base ecosystem. Users must hold 2,500 $VEIL tokens and complete Coinbase Onchain Verification via EAS to participate. The new wallet pool is live at veil.cash/wallet, aligning with Veil’s mission to make privacy a human right, as highlighted by their response to the U.S. government dropping its appeal in the Tornado Cash lawsuit.
The following fixed pools are now in withdrawal mode only: 0.005 ETH, 0.01 ETH, 0.05 ETH, and 0.1 ETH. Verified users are encouraged to join the new pool to continue leveraging Veil’s privacy features.
Base is hiring a Poland Country Lead to drive its ecosystem growth in Eastern Europe. The role focuses on building a community of founders, developers, creators, and investors to boost onchain adoption. Candidates should be high-energy networkers, ideally with blockchain project experience and regional language skills. Apply at careers.coinbase.com. Base is also seeking a Mexico Country Lead to expand its presence in Latin America, with similar responsibilities for fostering community and adoption.
Log A Dog: Season 2, created by myk.eth, launched on July 6, 2025. Upload hot dog-eating selfies to logadog.xyz on Farcaster to climb the leaderboard and earn onchain rewards. The setup includes:
Photo-to-NFT: Each selfie becomes a Zora-minted coin, earning trading fees.
$HOTDOG Clanker: Paired with the coin, fees feed the contest’s prize fund.
Judging System: Stake tokens to judge submissions, earning rewards and slashed funds from bad-faith moderators.
Leaderboard Prizes: Top hot dog loggers win from the prize fund.
Stake to judge via Farcaster notifications and log your glizzies to compete in this quirky, myk.eth-driven project.
If you’re looking for a sharp take on the crypto landscape, check out David Tso’s (dave.base.eth) latest newsletter, “The Future of Money Is Here,” published July 5, 2025, here on Paragraph. It dives into:
DEX trading now live in the Coinbase app, streamlining DeFi access.
Fortune 500 giants like Shopify and JPMorgan embracing onchain operations.
Retailers like Autonomous Labs enabling USDC checkout via Profiles.
A teased “TBA” hinting at upcoming developments. https://paragraph.com/@cryptso/the-future-of-money
More heat from Bankrbot: the Bankr API is rolling out, starting with a free endpoint that instantly fetches Bankr Wallet addresses for any X or Farcaster account. This simplifies integrating wallet functionality into dApps, letting developers tap into Bankr’s ecosystem for seamless user onboarding and transactions. Learn more: bankr.bot/api
Coinbase is flexing its meme game again, dropping a blank image on July 3, 2025, with the caption: “A picture of how much it costs to send crypto from Coinbase → @base.” The point? Zero fees for transferring USDC to Base using Coinbase Wallet, making onchain moves fast and free. This minimalist banger, posted on X, ties into Onchain Summer’s push for seamless adoption
Base Builder Quest 7, announced at EthCC in Cannes, wrapped on July 3, 2025, challenging developers to create mini apps using Base’s builder tools in under 24 hours. From 11 submissions, @Story91_ won 1 ETH with HowToBase Academy, an interactive platform teaching Base’s ecosystem via:
USDC-paid NFT minting
Spend Permissions & Sub Accounts
Paymaster-sponsored gasless transactions
MiniKit push notifications
Gamified achievements
Finalists @ozFather (Bard) and @adJAstra (Snacky Cat) split 1 ETH. Submissions leveraged MiniKit, OnchainKit, Paymaster, and Spend Permissions for seamless UX. Try: https://how-to-base.vercel.app/
Coinbase International Exchange hit a major milestone, surpassing $1 billion in open interest on perpetual futures by June 30, 2025, a 10x jump since January. This reflects growing trader confidence, deeper liquidity, and accelerating momentum, driven by listings like SAHARA-PERP and SYRUP-PERP. The exchange’s CFTC-compliant platform, offering nano Bitcoin and Ether contracts, is drawing global and U.S. traders seeking leveraged exposure.
https://app.deform.cc/form/a332685e-9685-4b8d-89cb-14107ada5386/?page_number=0
That’s a wrap for this week’s dive into the onchain world! From Onchain Summer’s 600 ETH prize pool to Bankr’s wallet API, Virtuals Protocol’s ACP beta, Veil.Cash’s privacy pools, Base’s Poland hiring, Log A Dog’s glizzy galore, David Tso’s newsletter, and Coinbase International’s $1B futures milestone, the ecosystem is buzzing. Stay in the loop by subscribing at basedweekly.xyz for updates straight to your inbox. Feel free to grab some $BM, the token fueling the newsletter on @flaunchgg
https://flaunch.gg/base/coin/0x46b5bdd22b29c282b5ef4938d8ee20aff01bbf2f
Stay Based!
-Goyabean
