BaiBai now supports the tokenization of stocks on Base. The platform has launched two incentive programs that offer traders USDC in returns, as well as a competition reward pool that can reach up to $30,000 based on trading volume.
These two activities are jointly launched by Coinbase and LI.FI. Both reward programs are distributed through Merkl using USDC, and they are carried out simultaneously with the existing Base tokenized stock 2x points program on Coinbase.
Up to $10 in USDC cashbacks available.
The first promotion is aimed at eligible traders, with each wallet being able to receive up to $10. Users who make their first purchase of Coinbase tokenized stocks for an amount exceeding $250 will be eligible for a $5 rebate if they use assets other than Coinbase tokenized stocks, such as USDC or ETH.
After completing another stock-to-stock trade of $1,000 in Coinbase tokenized stocks, traders can also earn an additional $5. All Coinbase tokenized stocks on Base are eligible to participate.
This cashback campaign operates on a two-week cycle, with a total of $15,000 allocated for each cycle, and the campaign can be renewed once. To qualify, traders must hold the Coinbase tokenized stocks obtained from transactions in their wallets for a certain period of time, rather than selling them immediately. Transactions that are made immediately after a purchase or those involving wash trading are not eligible.
A four-week trading competition with a maximum prize of $30,000
The second event is a four-week trading volume competition, and the prize pool will increase as the total trading volume of BaiBai grows.
For every additional 2.5 million US dollars in trading volume, the bonus pool increases by 1,875 US dollars. When the trading volume reaches 10 million US dollars, the bonus pool amounts to 7,500 US dollars. After this threshold is exceeded, for every additional 10 million US dollars in trading volume, the bonus pool increases by another 7,500 US dollars. This continues until the total trading volume reaches 40 million US dollars, at which point the upper limit of the bonus pool is set at 30,000 US dollars.
Unlike cashback campaigns, there is no holding requirement for this competition. Participants can trade without the need to maintain open positions. Foreign exchange transactions are also counted towards the competition's trading volume.
These two activities offer different incentives: cashback rewards for eligible purchases, as well as subsequent stock-to-stock transactions, while the competition encourages a broader range of trading activities.
How Spire Labs and BaiBai Collaborate
BaiBai is part of a broader effort to make on-chain transactions more accessible, while Spire Labs provides the underlying infrastructure necessary to support the development of this product.
Spire Labs focuses on infrastructure and continues to collaborate with the Base team in the execution at the sorter level. BaiBai is closer to users, operating as a trading venue where prices are formed, and transactions are executed through its proprietary automated market-making mechanism.
Spire Labs contributes to the technical foundation, while BaiBai provides the trading experience. Together, they support the broader vision of making the on-chain market more efficient and more accessible.
Trade Coinbase tokenized stocks on BaiBai.
This event brings together multiple components of the Base ecosystem. Coinbase issues tokenized stocks, LI.FI provides cross-chain and stock exchange functions, BaiBai is responsible for transaction pricing and execution, and Merkl is in charge of tracking and distributing rewards.
With the introduction of double points, the newly added cashback and trading volume competitions provide another way for eligible traders to earn rewards when trading Coinbase tokenized stocks on Base.
For more information about BaiBai and its activities, you can visit its website or X page.
