Coinbase’s layer-2 network Base may soon launch a native token, creator Jesse Pollak said at the BaseCamp event.
According to Base, the new token could support decentralization and expand opportunities for builders and creators. “We’re in the early phases of our exploration, and don’t have any specifics to share around timing, design, or governance,” the network said Monday.
Base is a layer-2 blockchain built on Ethereum and incubated by Coinbase. It processes transactions offchain before settling them on Ethereum.
Launched in 2023, the network has become the most widely used Ethereum layer-2 blockchain, with data from Token Terminal showing about 20.8 million monthly active addresses over the past 12 months.
Speaking at the BaseCamp event, Pollak also announced the launch of an open-source bridge to Solana, allowing users to move assets between the two chains and enabling developers to tap into a broader liquidity pool.
Pollak said Base was designed to be a “bridge, not an island,” adding that the goal is to strengthen the entire ecosystem by making it open and interoperable. “For a better global economy to work, we need it to be interoperable and connected.”
Base outlines why it’s now considering a token
Base’s move to explore a native token marks a shift from previous statements. As recently as November 2024, Pollak said in an X thread, where he praised Hyperliquid for prioritizing 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 let you build better,” Pollak wrote.
However, the potential Base token appears to be an evolution of the network rather than a flip-flop.
“Initially, considering launching a token wasn’t a priority for us, because we felt we needed to focus on the core product first,” a spokesperson for Base told Cointelegraph.
“Now that we’ve achieved sub-second, sub-cent transactions and expanded into an open stack, we’re exploring a network token to further decentralize and make the ecosystem more open, accessible, and community-driven,” Base said.
The spokesperson also linked token issuance to its decentralization goals. “Base is for everyone, and a network token could help more people take part in Base’s onchain economy.”
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