Base Network
The Base Network
Base is a secure, low-cost, Ethereum L2 built to bring the next billion users onchain. The network is currently incubated within Coinbase and plans to progressively decentralise in the years ahead in order to help create an open, global cryptoeconomy that is accessible to everyone.
Benefits of Base
Ethereum L2 - Base is built as an Ethereum L2, with the security, stability, and scalability at its heart
Scaled by Coinbase - Base is intended to provide a platform for efficient leverage of Coinbase’s products and seamless integrations including easy fiat onramps, and access to millions of current users in the Coinbase ecosystem
Connecting to The Base Network
First go to https://chainlist.wtf/ and connect your wallet by pressing the button in the top right hand corner of the screen
Enter the word 'Base' into the search bar at the top
Click the option to Add Chain
Name: Base
ChainID: 8453
Currency: ETH
Bridging to Base
As of 3 Aug 2023 Base network have launched a dedicated bridge between Ethereum mainnet and the Base Network. Base Bridge enables the transfer of certain digital assets and other data back and forth between Ethereum and Base. The bridge accepts a number of popular Ethereum wallets like Coinbase Wallet, MetaMask, and Rainbow Wallet.
Note:
At the time of writing deposits to Base Network took just a few minutes however withdrawals are time locked to take 7 days.
Gas fees to use the bridge appear to be higher than using the proxy contract method described below.
Bridging Using The Proxy Contract (superseded)
At the launch of Meridian the Base mainnet is in the early stages of development and as such does not yet have a UI through which to bridge funds. However a proxy contract does exist that allows users to move funds on chain from Ethereum mainnet. The process for doing this is described below:
CAUTION
Do not send any asset other than ETH. The proxy contract only supports receipt of ETH and sending any other asset will result in unrecoverable loss of the asset.
Do not send ETH from any network other than Ethereum mainnet. The proxy contract only supports from Ethereum mainnet and sending from any other network or chain (e.g. another EVM-compatible chain or L2) will result in unrecoverable loss of the asset.
Do not send ETH from an exchange. The portal proxy contract bridges to the address where ETH is sent from, so if sent from an exchange, for example, ETH will be bridged back to the exchange, which could result in unrecoverable loss of the asset.
Ensure that you have some native ETH tokens in your wallet on the Ethereum mainnet
The proxy contract address is 0x49048044D57e1C92A77f79988d21Fa8fAF74E97e
Use your Metamask wallet to send ETH on Etherum mainnet form your wallet direct to the proxy contract address. Any funds sent in this way will be transferred from your wallet the Etherum mainnet to your wallet on the Base mainnet. Transfers can take several minutes to complete.
Connect your wallet to the Base network and you should be able to see the transferred funds
More detailed information on using the proxy contract for bridging can be found here
Tips
Whenever moving funds to a new location for the first time, test the process with a small transaction before committing all of your main funds.
Note that not all wallets support transfers direct to a contract address however this can be done using Metamask
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