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Onchain Summer: What You Need to Know and How You Can Participate
Onchain Summer: What You Need to Know and How You Can Participate
Onchain Summer: What You Need to Know and How You Can Participate

What is Onchain Summer?

Onchain Summer is an annual event put on by Coinbase each summer with one goal: onboard more users to Web3. It started last year with a multi-week event, celebrating art, music, gaming and more on the blockchain. And after ~270,000 wallets participated in the inaugural year, they decided to run it back for the whole summer of 2024.

While everyone can participate in onchain activities and mint NFTs, Onchain Summer is putting more of an emphasis on builders this year. As a result, builders can work towards ~$2M of rewards from Coinbase and other partners, including Dynamic.

Why Developers Should Care About Onchain Summer

Developers should build around where there are large amounts of users, and the smart wallet has the ability to onboard users to Web3 like never before. The simple integrations and ease of use also make it a seamless transition for builders.

Additionally, the ~$2M of rewards for building is hard to ignore. These incentives are divided between several events over the summer:

  • Dynamic Bounties: In addition to the rewards provided by Coinbase, those building on Base with Dynamic may be eligible for up to $5K in bounties from us!
  • Onchain Buildathon: A month-long hackathon focusing on eight sectors including gaming, payments, trading, community engagement and more. 200 ETH in rewards are up for grabs!
  • Builder Grants: Smaller grants (up to 5 ETH) for projects building in the early stages.
  • Round Grants: 2 ETH in weekly rewards provided by the base-builds channel on Farcaster.
  • Gas Credits: Offer and receive gasless experiences through the Coinbase Developer Platform.
  • Optimism Retro Funding: Since Base is powered by the OP stack, builders on Base may also be eligible for Retro Funding from Optimism.

Learn more about what’s up for grabs and sign up here!

What is Coinbase’s Smart Wallet?

Coinbase’s smart wallet redefines the landscape of crypto wallets by prioritizing user experience and accessibility. From Web3 enthusiasts to first-time wallet users, anyone can get set up with the new smart wallet in under a minute - all without the need for browser extensions, seed phrases or passwords.

The smart wallet simplifies the Web3 experience for users through:

  • Passkeys: Instead of writing down seed phrases and managing passwords, the use of passkeys provides users with simplicity and the highest level of asset security.
  • Gas Sponsorships: Developers have the capability to cover gas fees on behalf of their users, removing friction from onboarding and transacting.
  • Removal of Third Parties: Keep your experience within your browser, avoiding the usage of third parties and extensions.
  • Seamless Integrations: Simply update your Coinbase Wallet SDK and you’ll be set up to explore everything that the world of Web3 has to offer.

Coinbase’s smart wallet officially launched on June 5th, just in time for Onchain Summer! We walk you through how you can try it for yourself here.

Participate in Onchain Summer with the Smart Wallet

Coinbase’s smart wallet is built for anyone and everyone. As a user, you can try it out in under a minute by following these steps within Dynamic’s demo environment.

As a builder, leverage Dynamic to fully take advantage of the capabilities of the new smart wallet on Base. Your end users will thank you.

Boost your chance of earning rewards by celebrating Onchain Summer with Dynamic!

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Itai Turbahn

Itai is the co-founder and CEO of Dynamic. Before Dynamic, Itai spent 7 years in product management leadership positions, and was previously a consultant at the Boston Consulting Group. Itai holds an MBA from Harvard Business School and B.Sc degrees in EECS and Economics from MIT.

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