Today, we’re revealing the Universal Protocol. Universal makes it easier than ever to trade your favorite assets directly on your favorite chains. Think DOGE on Base, NEAR on Solana, BONK on Monad.. Read on for access to the Universal Preview

Trading onchain today means bridging across different chains, managing wallets, and transferring to centralized exchanges. Universal makes supported assets directly available on EVM and non-EVM chains without the hassle. TLDR; get exposure without the extra hops and fees.

Universal leverages a wrapped asset custodian-issuer system to get quick and reliable trades, with native assets stored inside Coinbase Custody. Universal leverages: - Near-instant issuance and redemption - Multi-chain asset support - Seamless bridging between supported chains

Each Universal Asset gets natively issued on supported chains, and backed with the native version in CB Custody. i.e. when buying Universal Doge (uDOGE), Merchants fulfill the trade and mint uDOGE. The native DOGE is then stored in Coinbase Custody, and you receive uDOGE.

Each uAsset is backed 1:1 with verifiable reserves, and will be made available both on the Universal Frontend, as well as broader DeFi ecosystems. uAssets can also be bridged across chains using a burn and mint model. Burned on one chain, minted on the other – fast and cheap.

The Universal Protocol will be released in three key phases: - Developer Preview (today) - Universal Testnet - Universal Mainnet If you’re a builder, we’d love to talk to you, no matter the chain. If you're a user, join our Discord for preview access.

@base @solana @monad_xyz Congrats team, this is really going to help Web3 user experience!

@base @solana @monad_xyz next billion users?

@base @solana @monad_xyz Buys looks fantastic. Very excited about this! Congrats on the new product.

@base @solana @monad_xyz thank you sir

@base @solana @monad_xyz I hope you don't get sued for the name

@base @solana @monad_xyz yea same