Coinbase Pivots Base App to Prioritize Trading, Discontinues Rewards

TLDR

• Coinbase’s Base app is shifting from a social-driven platform to a trading-focused experience.
• The creator rewards program, which has distributed over $450,000, will end on February 15.
• Base app will replace the Farcaster-powered “Talk” feed with a new feed focused on onchain activity.
• Base’s founder Jesse Pollak emphasized that the app must prioritize trading to meet user demands for high-quality assets.
• Coinbase plans to expand the app’s asset offerings to support more onchain activities and attract retail traders.

Coinbase’s Base app has announced a major strategic change, moving from a social-centric ecosystem to a trading-first platform. The update includes the termination of its creator rewards program and the Farcaster-powered “Talk” feed. These changes are set to reshape the app’s focus on tradable assets, aligning with Coinbase’s broader business goals.

Base App Phases Out Social Features and Creator Rewards Program

Coinbase’s Base app will discontinue its creator rewards program on February 15, with final payouts to be made by February 18. The program has distributed over $450,000 to more than 17,000 creators over the last six months, averaging $26 per creator. Despite this success, the platform announced that it will shift its focus to offering a better trading experience for users.

As part of this transformation, the Farcaster-powered “Talk” feed will be replaced with a new feed focused solely on onchain activity. This move aligns with Base’s goal of prioritizing tradable assets and creating a platform centered around trading rather than social interactions. Coinbase stated that the changes reflect the evolving needs of their user base.

Coinbase’s Founder Advocates for Trading-Focused App

Jesse Pollak, Base’s founder, confirmed the platform’s pivot, explaining that the decision to drop social features was rooted in the need to focus on trading. Pollak emphasized that the app had to prioritize one primary function trading. He noted that the app’s initial focus on social features was too closely tied to Web2 experiences, which did not meet the demands for trading high-quality assets.

Pollak acknowledged that the integration of Farcaster was initially a driving force behind the app’s design. However, as the platform evolved, it became clear that the focus needed to shift. “We need to do less, better,” Pollak stated. He assured that Farcaster’s builders would continue to receive support outside of Base’s app.

Expanding Trading Experience for Onchain Economy

Coinbase CEO Brian Armstrong echoed Pollak’s sentiments, emphasizing that the app would now focus on serving retail investors and traders. Armstrong also revealed that Base would expand its asset offerings to support everyone building on the Base network. The changes aim to make trading more accessible and attractive to users, with new features like copy trading, leaderboards, and feed trading to be added in the coming months.

In its initial launch last year, the Base app was designed as part of Coinbase’s “Everything App” strategy, which integrated social networking, messaging, and payments with onchain activities. However, after gathering user feedback, the platform shifted its focus to delivering a more robust trading experience that could drive capital markets onchain.

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