On March 9, Coinbase stated via a tweet that it would launch its first-ever quest on Coinbase wallet with Optimism

Coinbase (COIN), the biggest crypto currency exchange platform in the US, is working on new ways to tap more crypto users to the platform. In February this year, the crypto platform announced ‘Base,’ a new testnet launch of its Ethereum Layer-2 network.

The primary aim of bringing in Base is to provide a low-cost, safe and secure, developer-friendly method of building decentralized apps (dApps) on-chain, which run on a blockchain network of computers rather than a single one. Coinbase stated it would use Optimism (OP) technology for the Base launch. As per CoinMarketCap, Optimism is trading at $1.89, down 2.10 per cent during the last 24 hours.

On March 9, Coinbase stated via a tweet that it would launch its first-ever quest on Coinbase wallet with Optimism. It may be the new method to earn on-chain crypto by learning Web3. To earn quests on Optimism, the user has to complete activities such as staking, swapping and delegating.

All quests are mobile-only, first come, first serve, and OP awards may decrease rapidly. Quests availability may differ by country, Coinbase tweed.

The US-based investment management company Ark Investment Management now holds 9.9m shares of Coinbase worth $575m. On Friday, Coinbase shares dipped because of the sudden collapse of crypto-friendly bank Silvergate Bank. Coinbase Global Inc market finished at $53.44, down 8.00 per cent.

In the meantime, Coinbase responded to the present scenario of the crypto industry: We are sorry to see Silvergate make the difficult decision to shut down their operations. It was a partner and contributor to the growth of the crypto economy.

Coinbase assured its users, saying the firm has no client or corporate cash at Silvergate and the users’ funds continue to be safe, secure and accessible.