Coinbase announced the launch of Base, the testnet version of Ethereum’s layer 2 network. Jesse Pollack, Coinbase’s senior engineering director, said that Base is modeled on Ethereum’s Goerli testnet, built on the open source OP Stack, and will not issue dedicated tokens. Coinbase will also partner with Optimism to build the OP Stack. Base will integrate with the existing Coinbase suite of developer tools, and will also integrate with the company's consumer products, such as Coinbase and Coinbase Wallet. Additionally, Coinbase and its venture capital arm, Coinbase Ventures, will launch the Base Ecosystem Fund to make significant investments in Base-based companies and organizations at the pre-seed stage.