In a strategic move set to redefine the landscape of decentralized finance, 3Base has officially acquired Nautilus Chain, a leading payments-optimized Layer 3 blockchain. This acquisition marks a significant step for the thriving Nautilus ecosystem, as it transitions into 3Base, promising to enhance scalability, security, and real-world application potential.
Originally launched as the first and largest payments-optimized modular Layer 3 (L3) chain incubated by the Zebec Protocol, Nautilus Chain was built to enable continuous payment streams. The acquisition by 3Base represents a natural progression, allowing the combined entity to capitalize on the robust infrastructure anchored in Coinbase’s Layer 2 network (BASE) and the advanced capabilities of the Optimistic rollup stack.
3Base is committed to pushing the boundaries of what blockchain technology can achieve, particularly in the realm of decentralized payments,” said Zuhayr Reaz, recently appointed to lead Nautilus 2.0 transition and named CEO of 3Base. “By acquiring Nautilus, we are not just inheriting a powerful technology and team, but also welcoming a 3000+ - strong community of developers and contributors who share our vision for a global, interoperable payment network.”
Nautilus Node holders and chain contributors to benefit from the move
Zepoch Node NFT holders, who have played a crucial role in supporting the Nautilus ecosystem, will see their nodes upgraded to 3Base Contributors. This migration enhances the nodes' capabilities and aligns them with the ongoing evolution of blockchain payments globally.
The transition to 3Base introduces several key benefits for Nautilus chain users:
**Enhanced Scalability and Performance: **Utilizing Layer-3 rollups, 3Base will achieve significantly higher transaction speeds and scalability, capable of processing thousands of transactions per second, making it competitive with traditional payment networks like Visa and Mastercard.
**Increased Security and Reliability: **Built on the secure and audited Base network, 3Base ensures the integrity and safety of financial transactions, providing consistent performance without outages.
**Broader Adoption: **The integration of Web2 merchant payment networks with Web3 capabilities enables seamless crypto payments for everyday transactions. The 3Base network is designed to bridge the gap between traditional and decentralized finance, offering a user-friendly interface and broader interoperability.
With the acquisition complete, 3Base is poised to become a dominant force in the decentralized payments space. The beta launch of the Next Gen Nautilus, now 3Base, on the Base platform is set for Q3 2024, with the mainnet launch expected in Q4 2024.
While Nautilus does not currently have a token, plans to launch one remain on track. The new token, with yet to be announced name and ticker, is anticipated for late 2024 to Q1 2025. The specific details on the token release will be released closer to release date.
“This acquisition is just the beginning,” added Zuhayr Reaz. “We are excited to continue innovating and building a more connected and efficient financial future.”
For more information, please visit 3base.org 3Base on social channels:
Note official Nautilus social channels will move to 3Base channels X: https://x.com/nautilus_chain
Telegram: https://t.me/nautchain
Contact: press@3Base.org
About 3Base
3Base is a payments-optimized Layer 3 Rollup as a Service (RaaS) platform built on Coinbase’s Layer 2 network (BASE). It enhances scalability, security, and efficiency by leveraging a modular architecture that enables seamless interoperability between Layer 3s and Layer 2s, driving the future of decentralized finance and blockchain payments