Safe, a leading provider of smart account infrastructure, has announced a strategic collaboration with Base, an Ethereum Layer 2 network incubated by Coinbase, to offer financial incentives and modular tooling for smart account developers.
Why it matters: The collaboration between Safe and Base holds significant promise in addressing critical user experience challenges associated with self-custody, a long-standing concern in the Ethereum community.
- Ethereum leaders such as Vitalik Buterin have advocated for the transition to smart accounts as a means to enhance user experience and drive mainstream adoption of blockchain technology.
Smart accounts offer a plethora of features, including account recovery, multi-signature transactions, and recurring payments, effectively bridging the gap between the familiar Web2 experience and the decentralized Web3 platforms. By contrast, applications relying on externally owned accounts (EOAs) often suffer from cumbersome private key management, unpredictable gas fees, and limited functional versatility for decentralized applications (dApps).
The joint initiative by Safe and Base seeks to empower developers by providing financial incentives and modular tooling to accelerate the adoption of smart accounts
- Lukas Schor, co-founder of Safe, highlighted the pressing need for dynamic and scalable solutions in the face of Ethereum’s burgeoning user base, emphasizing the pivotal role of smart accounts in shaping the future of blockchain development.
- Nick Prince, Product Manager at Base, echoed Schor’s sentiments, underlining the importance of reducing barriers for developers to foster widespread adoption of smart accounts.
What’s the offer: Base’s gas fee credit program, offering up to 1 ETH to developers building on Safe over the program’s initial 12-month period, aims to incentivize developers and catalyze innovation within the Ethereum ecosystem.
The collaboration leverages Safe’s robust infrastructure, supporting over 6 million smart accounts and facilitating more than 30 million transactions, to bolster the growing activity across Ethereum. Safe’s compatibility with Base’s Sepolia testnet provides developers with a reliable testing environment, ensuring seamless integration and enhancing the accessibility of blockchain applications.
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