BaiBai now supports Coinbase Tokenized Stocks on Base. The platform has introduced two incentive campaigns that offer traders USDC cashback and a volume-based competition with a reward pool of up to $30,000.
The campaigns have been launched with Coinbase and LI.FI. Both reward programs pay out in USDC through Merkl and run alongside the existing 2x points program for Coinbase Tokenized Stocks on Base.
Earn Up to $10 in USDC Cashback
The first campaign rewards eligible traders with up to $10 per wallet. Users can receive $5 back on their first Coinbase Tokenized Stock purchase exceeding $250, provided the purchase uses an asset other than a Coinbase Tokenized Stock, such as USDC or ETH.
Traders can earn an additional $5 after completing another $1,000 in stock-to-stock trades between Coinbase Tokenized Stocks. All Coinbase Tokenized Stocks on Base are eligible.
The cashback campaign operates in two-week epochs, with $15,000 allocated per epoch and the campaign renewable once. To qualify, traders must keep their resulting Coinbase Tokenized Stocks in their wallets for a while rather than immediately selling out. Self-trades and wash trading are excluded.
Four-Week Trading Competition Offers Up to $30,000
The second campaign is a four-week volume competition, with a prize pool that grows as total trading volume on BaiBai increases.
Every $2.5 million in trading volume adds $1,875 to the pool, reaching $7,500 at $10 million. Beyond that threshold, each additional $10 million adds another $7,500, up to a maximum of $30,000 when total volume reaches $40 million.
Unlike the cashback campaign, the competition has no holding requirement, allowing participants to trade without needing to retain their positions. FX-to-FX trades also count toward the competition’s volume.
The two campaigns offer different incentives: cashback rewards eligible purchases and subsequent stock-to-stock trading, while the competition encourages broader trading activity.
How Spire Labs and BaiBai Fit Together
BaiBai is part of a broader effort to make on-chain trading more accessible, with Spire Labs providing the underlying infrastructure work that supports the product’s development.
Spire Labs focuses on infrastructure and has ongoing work with the Base team on execution at the sequencer level. BaiBai sits closer to the user, operating as the trading venue where prices are determined and trades are executed through its proprietary automated market-making approach.
Spire Labs contributes to the technical foundation, while BaiBai delivers the trading experience. Together, their work supports the broader vision of making on-chain markets more efficient and accessible.
Trading Coinbase Tokenized Stocks on BaiBai
The campaign brings together several components of the Base ecosystem. Coinbase issues the tokenized stocks, LI.FI powers cross-chain and stock swaps, BaiBai handles trade pricing and execution, and Merkl tracks and distributes rewards.
With 2× points already live, the additional cashback and volume competition give eligible traders another way to earn rewards while trading Coinbase Tokenized Stocks on Base.
To learn more about BaiBai and its campaigns, visit their website or their X page.
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