Original Article Title: "Based Weekly Issue 011"

Original Article Author: goyabean

Original Article Translation: Wenlanbo, ChoeyGit, 183Aaros

The annual Onchain Summer has officially kicked off, injecting continuous vitality into the Base. From the launch of the Base Creative Challenge with a value of over $2 million, to the release of the Bankr Leaderboard, and the gradual formation of Virtuals Protocol's AI-native economy, we are entering a season of "ecosystem building = standing firm."

This issue of the weekly newsletter will delve into everything happening in the Base ecosystem, as well as the updates you may have missed in the past week, such as the ongoing release of memecoins, building Mini Apps, earning rewards by sharing a hotdog feast, or staking more $BNKR. Keep reading the newsletter and continue to contribute to the ecosystem. It's not too late, now is the time to make a name for yourself in the Base ecosystem!

Let's dive into this week's newsletter and get a deep understanding of what has been going on.

The Annual Onchain Summer Has Begun!

Onchain Summer 2025 has kicked off, marking the start of a blockchain creativity and innovation celebration on Base. The third annual event will last throughout August, inviting developers, creators, and brand teams building on-chain NFTs, games, art, music, and more to participate. The event will offer a total of over 600 ETH (approximately $2 million) in prizes, grants, and gas fee subsidies waiting to be won. Top developers will receive invitations to Basecamp and showcase their talents at the Onchain Summer 2025 Awards Ceremony. Posts on X have set the stage for the festive atmosphere, encouraging creators to enthusiastically register and submit projects, joining the wave of Web3 summer revelry. Build something you love with all your might and reap generous rewards. Trust me, you deserve to participate, so go get your holiday party invitation!

Stay tuned for the latest information by following @base and visiting onchainsummer.xyz to keep up with event updates.

Base Chinese Community Development Team Recruitment

The Base Chinese Community Building Team, initiated by the vision call of the CBB (Chinese Based Builders) community, sees its existence as a commitment in itself: to go all out and build a Base Chinese community that stays true to its roots (Stay Based)! We uphold collaboration and win-win as our creed, foundation, and gather the strength of all builders in the Chinese community, with only one goal in mind: to make the Base Chinese community a surging and unstoppable stream in the global Base ecosystem, an indispensable part!

The departments we plan to recruit are:

· Content Department (3 members): The voice shapers and knowledge lighthouses of the Base Chinese community

Produce high-quality original content; organize community members for content co-creation and sharing; manage content channels, optimize dissemination effectiveness; capture hot topics, create discussions, enhance community engagement and influence, becoming core creators in the Base ecosystem.

· Research Department (3 members): The wise brains and strategic vanguards of the Base Chinese community

Conduct in-depth research on Base ecosystem projects; analyze industry trends and dynamics; participate in project due diligence processes, delivering high-quality projects to Base; share professional perspectives and viewpoints 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 other departments on promotional materials and event visual designs; explore new forms of artistic expression to enrich community culture.

· Events Department (3 members): The dynamic engine and connection enablers of the Base Chinese community

Plan and organize online (such as Twitter Space, Podcast events, etc.) and offline (such as Meetups, workshops, etc.) events; coordinate resources to ensure smooth event execution; evaluate event effectiveness, continuously optimize; design interactive elements 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, assist in their landing and promotion in the Base Chinese community; collect and convey community feedback on projects; explore collaboration models to facilitate community and project co-building; connect potential high-quality projects to enter the Base ecosystem.

Base Chinese Building Team will receive:

· Outstanding contributors will receive priority support from the Base Chinese community and actively strive for valuable showcasing opportunities on the Base official platform.

· Excellent builders within the community will be prioritized and actively recommended to the Base official team, making every effort to help them qualify for the Base Ambassador nomination.

· Excellent original content creators will receive priority assistance from the Base Chinese community and actively strive to secure their participation in the Base Creator Incentive Program.

Click on the "Registration Form" to start our collaborative journey! Feel free to join the Base Chinese community to contribute, interact, and raise your questions.

Bankr Score Battle: $BNKR Bonus Frenzy

The Bankr Leaderboard feature is now live, distributing 450 million $BNKR Tokens to Bankr Club members over 120 days. Bankr, in collaboration with @cookiedotfun, has built a unique Bankr scoring system that combines social data and on-chain metrics to determine reward distribution. To earn points, users must meet the following criteria:

1. Join the Bankr Club (monthly payment of $20 worth of $BNKR required).

2. Hold $BNKR Tokens.

3. Interact with Bankr on X (posting, engaging).

4. Increase points through on-chain metrics such as Profit and Loss (PNL), holding booster coins, or owning Bankr NFTs.

The reward distribution is as follows: 55% (2.475 billion $BNKR) is allocated as daily rewards to the top 100 users, with additional weekly, monthly, and end-of-season rewards. The leaderboard measures engagement by tracking users' $BNKR holdings, trading activity, and social interactions. Data from cookie.fun shows a +4.85% increase in holders and a +2.11% rise in engagement in the last three days.

Virtuals Protocol Governance and ACP Beta Update

Agent Commerce Protocol (ACP) Beta

The Agent Commerce Protocol (ACP) Beta launched on July 3, 2025, aiming to help individuals operate AI Agents like full-fledged businesses, automating transactions and tasks through scripted workflows. It ensures that agent clusters (e.g., media companies, hedge funds) execute transactions or content creation tasks through:

· Agent Registry: A decentralized directory of Agent services and metrics.

· Smart Contracts: Managing collaboration and payment using $VIRTUAL.

· Assessors: Ensuring protocol adherence.

With over 17,000 Agents and two Clusters onboarded, the Beta phase is still evolving. Feedback via @virtuals_intern on X is welcome, with rewards based on feedback quality. Recent updates enhanced task assignment and DeFi features. Scalability and user experience challenges persist, but ACP aims to pioneer an AI-driven business model, with veVIRTUAL holders as co-owners.

Wave-1 Governance Vote

The first wave of the Virtuals Protocol's governance vote has concluded, with over 85% of the mandated participants approving three proposals. veVIRTUAL holders who locked $VIRTUAL for voting power determined the following outcomes:

1. Virtuals Foundation: Establishing a nonprofit organization to ensure ecosystem transparency and accountability. Voting Audit Address: gov.virtuals.io

2. Anti-Snipe and Rewards Fund: Formally establishing a DAO-governed launch protection mechanism, distributing over $5.3 million in Token value to $VIRTUAL stakers. Voting Audit Address: gov.virtuals.io

3. Performance Funding for Virgen Labs: Performance funding equal to 2% (up to 6% total) of the total $VIRTUAL supply will be distributed upon reaching milestones at $10, $20, and $40 to ensure 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 Liquidity Pool Update

Veil.Cash is a privacy protocol deployed on Base using zk-SNARKs technology. The protocol announced that over 1 million Binance users who hold Binance accounts and have bound BAB Tokens only need to complete three steps to directly access a verified liquidity pool on Base. This integration enhances the privacy of user on-chain transactions without leaving the Base ecosystem. Users must hold 2,500 $VEIL tokens and complete Coinbase on-chain verification through EAS to participate. The new wallet liquidity pool has been launched. As previously responded by Veil in the event of the U.S. government dropping the lawsuit against Tornado Cash appeal, Veil considers privacy as a part of human rights.

The following fixed amount liquidity pool is 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 pool to continue using Veil's privacy protection features. https://veil.cash/wallet

Base Regional Lead Recruitment Update

Base is recruiting a Poland Regional Lead to drive its ecosystem growth in Eastern Europe. The focus of this position is to establish a community consisting of project founders, developers, creators, and investors to promote the adoption of on-chain applications in the region. The ideal candidate is an energetic social network builder with both blockchain project experience and regional language skills. Please visit careers.coinbase.com to submit an application. In addition, Base is also recruiting a Mexico Regional Lead to expand its influence in Latin America. The responsibilities are similar to those of the Poland Regional Lead, aiming to nurture the community and drive application adoption.

Hot Dog Enthusiasts Gather: Log A Dog Season 2 is Now Live!

Log A Dog Season 2, created by myk.eth, went live on July 6, 2025. Upload a selfie enjoying a hot dog on logadog.xyz on Farcaster to have the chance to top the leaderboard and win on-chain rewards. The event mechanics include:

· Photo to NFT: Each selfie photo will become a Token minted on Zora, earning transaction fees on the Zora platform.

· $HOTDOG Clanker: Paired with a Token, the generated yield will be injected into the competition's prize pool.

· Reviewer System: Stake Tokens to review submitted content and earn rewards, as well as receive forfeited funds from malicious reviewers.

· Leaderboard Prizes: Top creators on the hotdog leaderboard will win rewards from the prize pool.

Start staking Tokens via Farcaster notifications for creative review, or upload your share to participate in this quirky yet fun project led by myk.eth. Compete now at: https://logadog.xyz

On-chain Insights from the David Tso Newsletter

If you're looking for unique insights into the cryptocurrency space, check out the latest Newsletter "The Future of Money Is Here" by David Tso (dave.base.eth), released on July 5, 2025, on Paragraph. It delves into:

· DEX trading now live on the Coinbase app, simplifying DeFi access.

· Fortune 500 giants like Shopify and JPMorgan embracing the on-chain ecosystem and actively joining in.

· Retailers like Autonomous Labs enabling USDC checkout via Profiles.

· A teaser of a "To Be Announced (TBA)" hinting at upcoming developments.

Read more at: https://paragraph.com/@cryptso/the-future-of-money

Bankr API Wallet Terminal Now Live

Bankrbot gains more momentum: Bankr API is now rolling out, initially providing a free terminal that instantly fetches any X or Farcaster account's Bankr wallet address. This significantly streamlines integrating wallet functionality into dApps, allowing developers to leverage Bankr's ecosystem for seamless user onboarding and transactions. Click the link to learn more: bankr.bot/api

Base Builder Challenge Season 7 Results Announcement

On July 3, 2025, the Base Builder Challenge Season 7 concluded with a perfect finale at the EthCC conference in Cannes. In this season's challenge, developers were required to use Base's building tools to create Mini Apps within 24 hours. Among the 11 submissions, @Story91_ emerged victorious with HowToBase Academy, winning 1 ETH. HowToBase Academy is an interactive teaching platform that achieves the educational and outreach goals of the Base ecosystem through:

· NFT Minting with USDC Payments

· Spend Permissions and Sub Accounts

· Gasless Transactions sponsored by a Paymaster

· MiniKit Push Notifications

· Gamified Achievements

Finalists @ozFather (Bard) and @adJAstra (Snacky Cat) shared a prize of 1 ETH. Their submissions leveraged tools like MiniKit, OnchainKit, Paymaster, and Spend Permissions to deliver a seamless user experience.

Start your trial by clicking the link: https://how-to-base.vercel.app

Coinbase International Perpetual Futures

The Coinbase International exchange has reached a significant milestone, with its Perpetual Futures' Open Interest surpassing $1 billion as of June 30, 2025, marking a tenfold increase since January. This growth reflects heightened trader confidence, deepened liquidity, and the rapid momentum driven by newly listed coins like SAHARA-PERP and SYRUP-PERP. The exchange, compliant with CFTC regulations, offers nano Bitcoin and Ethereum contracts, attracting traders from the U.S. and around the world seeking leverage exposure.

Coinbase Wallet Beta Open Invitation

https://app.deform.cc/form/a332685e-9685-4b8d-89cb-14107ada5386/?page_number=0

Base Weekly Recap

This week's exploration of the on-chain world comes to an end! From the 600 ETH prize pool of Onchain Summer to Bankr's wallet API launch, Virtuals Protocol's ACP Beta, Veil.Cash's privacy pool, Base's recruitment in Poland, Log A Dog's hot dog feast, David Tso's weekly report, and Coinbase International's $1 billion futures milestone, the entire ecosystem is full of vitality.

Stay Based, Stay True to the Core!

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