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Crypto exchange Coinbase’s new layer 2 blockchain Base had a rough start on Thursday, drawing a stream of complaints from users on social media. The test network for the Ethereum scaling tool experienced problems related to an issue with Coinbase wallets, which incorrectly estimated how much gas was required to execute transactions, meaning the transactions couldn’t be processed. Plus, Coinbase software engineer Roberto Bayardo said that high demand from users overwhelmed the protocol. Base forms the core of Coinbase’s strategy to expand into the developer business in order to diversify its revenue.

Yearn Finance’s YFI token surged to its highest level in nearly six months Friday after developers said they will introduce a liquid staking derivatives token. YFI surpassed $10,000 in Asian morning hours to prices not seen since September 2022, as part of a 39% increase this week, with trading volume increasing fivefold. Developers said the forthcoming token would give users exposure to a basket of liquid staking derivatives, which analysts say can help active investors diversify risk.

The Litecoin Foundation will work with Metalpha Technology (MATH), a Nasdaq-listed wealth manager, to develop less carbon-intensive mining products for the Litecoin ecosystem. The partnership will focus on facilitating renewable energy use and increasing energy efficiency. Metalpha will also develop financial derivative products for LTC tokens and support miners with hedging products against market risk.

- Omkar Godbole