BaiBai has added support for Coinbase Tokenized Stocks on Base, rolling out a pair of incentive initiatives that provide traders with USDC cashback as well as a volume-based contest featuring a reward pool scaling up to $30,000.
These promotional efforts were developed alongside Coinbase and LI.FI. Payouts for both programs are distributed in USDC via Merkl, running concurrently with the ongoing 2x points program dedicated to Coinbase Tokenized Stocks on Base.
Earn Up to $10 in USDC Cashback
Eligible traders can secure up to $10 per wallet through the first campaign. Users obtain a $5 rebate on their initial Coinbase Tokenized Stock acquisition of more than $250, provided the transaction is funded by an asset besides a Coinbase Tokenized Stock—such as ETH or USDC.
An additional $5 can be unlocked after executing another $1,000 worth of stock-to-stock exchanges between Coinbase Tokenized Stocks. All Coinbase Tokenized Stocks on Base qualify for this offer.
Running in two-week epochs, the cashback initiative allots $15,000 per epoch and can be renewed once. Participants must hold their acquired Coinbase Tokenized Stocks in their wallets for a duration rather than selling them off immediately. Wash trading and self-trades are disqualified.
Four-Week Trading Competition Offers Up to $30,000
The second initiative is a four-week volume challenge featuring a prize pool that expands proportionally as overall trading activity on BaiBai increases.
Every incremental $2.5 million in trading volume contributes $1,875 to the pool, hitting $7,500 at the $10 million mark. Past that point, every extra $10 million adds another $7,500, capping out at a maximum of $30,000 once aggregate volume reaches $40 million.
Contrasting with the cashback promotion, this competition imposes no holding conditions, meaning participants are not required to keep their positions. FX-to-FX trades also factor into the competition’s volume metrics.
Ultimately, the two programs cater to different goals: the cashback targets qualifying purchases and subsequent stock-to-stock trading, whereas the competition stimulates wider trading volume.
How Spire Labs and BaiBai Fit Together
BaiBai operates as a component of a wider initiative to expand accessibility in on-chain trading, utilizing foundational infrastructure supplied by Spire Labs to aid the product’s growth.
While Spire Labs concentrates on infrastructure and collaborates with the Base team regarding execution at the sequencer level, BaiBai functions closer to the end user. It serves as the marketplace where prices are set and trades are settled through its bespoke automated market-making mechanism.
Spire Labs builds the technical backbone, while BaiBai shapes the user trading journey. Together, their efforts advance the shared objective of making on-chain markets more efficient and open.
Trading Coinbase Tokenized Stocks on BaiBai</h2
The rollout unites multiple elements of the Base ecosystem: Coinbase issues the tokenized equities, LI.FI facilitates cross-chain operations and stock swaps, BaiBai manages pricing and trade execution, and Merkl oversees reward tracking and distribution.
Alongside the active 2× points system, the newly introduced cashback and volume contest give eligible traders extra avenues to accumulate rewards while interacting with Coinbase Tokenized Stocks on Base.
To find further details regarding BaiBai and its active campaigns, check out their official website or their X page.