Biweekly, we’ll round up the hottest news across the DeFi ecosystem to help you keep up to speed. 

Coinbase launched an Ethereum Layer 2 called Base using Optimism network’s open source stack. They will not be issuing a native token for the ecosystem – so don’t get fooled! (Coindesk) 

Ethereum developers have pushed back the Shanghai upgrade, including staked ETH withdrawals, to early April. (Decrypt) 

DeFi stablecoin issuer, Frax Finance, has opted to over-collateralize Frax in response to last year’s UST collapse and the resulting negative sentiment toward algorithmic stablecoins. (Blockworks) 

DeFi stablecoin issuer, MakerDAO, plans to enable their governance token (MKR) as collateral for their stablecoin (DAI) – drawing criticism for the parallels to last year’s UST collapse. (The Defiant) 

Robinhood released a self-custody web3 wallet app for iOS users. The wallet supports Ethereum and Polygon networks. (The Block) 

Uniswap Labs is also looking to enter the Web3 wallet game with their own self-custody crypto wallet. (The Defiant) 

Polygon launched a new web3 ID service built with zero-knowledge proofs. (The Defiant) 

BNB DeFi giant PancakeSwap is launching a new version of their protocol (V3) and burning 7 million CAKE tokens. (Coindesk)