Coinbase Creates Verified Pools, a Verified DeFi Built from Uniswap, with Noncustodial Wallet ⋆ ZyCrypto
The post Coinbase Creates Verified Pools, a Verified DeFi Built from Uniswap, with Noncustodial Wallet ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Coinbase has launched Verified Pools, a tool to swap or trade tokens over a DeFi network. However, with an added feature, liquidity providers must verify their identities. This new feature, according to Coinbase, will increase security and transparency. Decentralized Finance allows people to trade tokens without an intermediary. However, such an approach creates a new problem because liquidity providers do not know who they are trading with, adding to the risk profile of DeFi trading. Coinbase solves this problem by verifying users through the Coinbase wallet, making the process less cumbersome. Verified Pools run on Base, a layer 2 Ethereum blockchain. It operates as an online service, adding a level of security and transparency to the Coinbase exchange. The pools are noncustodial, meaning users have more control over their funds. “Coinbase is excited to introduce Verified Pools,” announced Coinbase, “a trusted way to seamlessly trade and swap on-chain. Whether you’re an institution seeking to provide liquidity or a retail trader looking for an easy way to start trading onchain, Verified Pools is setting a new standard: compliance meets efficiency, and trust meets transparency”. Verified Pools, developed from Uniswapv4, allows Coinbase to create a custom smart contract, including verification data, running on Base, Coinbase’s layer 2 network, allowing for faster and cheaper transactions. Coinbase contracted Gauntlet, a risk modelling company, to make sure the pools work correctly, minimising risk for consumers. Advertisement   Base, a layer 2 blockchain, allows users to exchange directly within the pools, minimizing transaction times and verifying all users, thus increasing the market’s liquidity. And on top of that, Coinbase claims that users have complete control of their wallets. Such a balance between trustless blockchains and centralized exchanges, on paper at least, provides benefits from both approaches. In other words, Coinbase could be trying…
Filed under: News - @ March 23, 2025 7:08 am