In a significant shift in its strategy, Coinbase has announced that it is “exploring” the possibility of launching a token for Base, its Ethereum layer-2 network. This move comes after years of the company stating that it had no active plans for such an initiative.
During a presentation at the Basecamp event, which was livestreamed to a global audience, Jesse Pollak, the Head of Base, made the revelation. He confirmed that the company is in the early stages of evaluating the potential for a network token. The official account for Base took to social media platform X to elaborate on the exploration. “Base is beginning to explore a network token,” the announcement stated. “We’re in the early phases of exploration and don’t have any specifics to share around timing, design, or governance. We’re committed to bringing the community along with us, and building in the open.”
Furthermore, the official Coinbase account echoed Pollak’s sentiments, noting, “Yes, Base is exploring a network token, but has no definitive plans. We’re exploring how a network token could help us accelerate our joint mission.”
This announcement marks a pivotal moment for Coinbase and its Base network, as it opens the door to new possibilities within the decentralized ecosystem. The intention behind introducing a token could be to enhance collaboration with the community and support the network’s overarching goals.
While details remain sparse, the company has emphasized its commitment to transparency and community involvement as it navigates the complexities of token governance and design. As this story develops, more information is anticipated to clarify the timeline and specifics pertaining to Base’s potential token launch.
