Introduction
Coinbase has announced plans to introduce wrapped versions of XRP (cbXRP), Dogecoin (cbDOGE), Cardano (cbADA), and Litecoin (cbLTC) on its Base network, an Ethereum layer-2 solution. These tokens will trade at a 1:1 peg with their native counterparts, expanding DeFi utility while maintaining value parity.
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Key Highlights
- Wrapped Tokens: cbXRP, cbDOGE, cbADA, and cbLTC will debut on Base, joining wrapped Bitcoin (cbBTC).
- Security Focus: Coinbase released official contract addresses to combat scam tokens.
- Unavailable for Trading: No launch date announced; users cautioned against fake listings.
- Base Network Dominance: Leads all Ethereum L2s in total value locked (TVL).
Wrapped XRP (cbXRP) on Base
Utility and Contract Details
- Contract Address:
0xcb585250f852C6c6bf90434AB21A00f02833a4af - Use Case: Enables XRP integration with DeFi protocols on Base, mirroring Ethereum’s functionality.
- Peg Mechanism: 1:1 with native XRP; conversions will be seamless.
"These assets are not yet live. We’ll announce their launch later."
— Coinbase Assets (Source)
Why It Matters
- Liquidity Boost: Expands Base’s ecosystem for cross-chain transactions.
- User Protection: Preemptive address disclosure prevents scams.
Wrapped Dogecoin (cbDOGE) Joins Base
Key Features
- Contract Address:
0xcbD06E5A2B0C65597161de254AA074E489dEb510 - Trading Status: Not yet active; users urged to await official rollout.
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Strategic Impact
- Altcoin Accessibility: cbDOGE brings meme coin utility to DeFi.
- Fraud Prevention: Early transparency mitigates fake token risks.
Expanding Offerings: cbADA and cbLTC
Cardano (cbADA)
- Contract Address:
0xcbADA732173e39521CDBE8bf59a6Dc85A9fc7b8c
Litecoin (cbLTC)
- Contract Address:
0xcb17C9Db87B595717C857a08468793f5bAb6445F
Base’s Growth Strategy
- Diverse Assets: Adds top-tier cryptocurrencies to its L2 network.
- Stablecoin Surge: Base processed $3.6T+ in Q1 2025 transactions.
FAQs
1. When will cbXRP launch?
- Coinbase hasn’t confirmed a date. Follow official channels for updates.
2. How do wrapped tokens work?
- They’re pegged 1:1 to the original asset, enabling DeFi use without native blockchain limitations.
3. Are these tokens tradable now?
- No. Trading will begin post-launch.
4. Why share contract addresses early?
- To prevent scams by allowing users to verify legitimacy.
5. What’s Base’s TVL ranking?
- It’s the leading Ethereum L2 by TVL, surpassing competitors.
Conclusion
Coinbase’s wrapped tokens (cbXRP, cbDOGE, cbADA, cbLTC) mark a strategic push to unify liquidity and DeFi accessibility on Base. With preemptive security measures and a focus on user trust, this initiative could further solidify Base’s position as a top Ethereum scaling solution.
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Note: All contract addresses are verified by Coinbase. Avoid unofficial tokens.