Jesse Pollak, the creator of Coinbase’s layer-2 network Base, announced at the BaseCamp event that a native token may soon be launched.
The new token is intended to support decentralization and provide more opportunities for builders and creators. “We’re in the early phases of our exploration and don’t have any specifics to share regarding timing, design, or governance,” the network stated on Monday.
Base is a layer-2 blockchain built on Ethereum, incubated by Coinbase, which processes transactions offchain before finalizing them on Ethereum.
Since its launch in 2023, Base has become the leading Ethereum layer-2 blockchain, with Token Terminal data indicating approximately 20.8 million monthly active addresses over the past year.
During the BaseCamp event, Pollak also unveiled the launch of an open-source bridge to Solana, which will allow users to transfer assets between the two chains and enable developers to access a larger liquidity pool.
Pollak emphasized that Base aims to be a “bridge, not an island,” and the objective is to enhance the entire ecosystem through interoperability. “For a better global economy to function, we need it to be interoperable and connected.”
Base explains its consideration of a token
The decision to explore a native token signifies a change from earlier statements. Just last November, Pollak mentioned in an X thread, where he lauded Hyperliquid’s focus on product development over token incentives, that there were no plans for a Base network token.
“We are focused on building. And we want to solve real problems that enable you to build better,” Pollak stated.
Nevertheless, the potential Base token appears to represent an evolution rather than a reversal in strategy.
“At first, we didn’t prioritize launching a token, as we felt the core product needed our focus,” a spokesperson for Base informed Cointelegraph.
“With our achievement of sub-second, sub-cent transactions and the expansion into an open stack, we are now exploring a network token to further decentralize and create a more open, accessible, and community-driven ecosystem,” Base elaborated.
The spokesperson linked the potential token issuance to its decentralization goals, stating, “Base is for everyone, and a network token could enable more people to participate in Base’s onchain economy.”
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