During the recent BaseCamp conference, Jesse Pollak, the creator of Coinbase’s Ethereum-based Layer 2 network, Base, hinted at the potential launch of a native token aimed at enhancing integration within the Ethereum ecosystem. This shift in direction is notable, considering Coinbase’s previous stance, which consistently indicated that there were no plans to issue a token for the Base network.
In a live-streamed discussion, Pollak emphasized that Base serves as a “bridge, not an island,” underlining the network’s ambition to foster closer connections with the broader Ethereum landscape. The announcement comes as Coinbase CEO Brian Armstrong echoed these sentiments in a post on X, stating that while the consideration of a native token is underway, there are presently “no definitive plans.”
Currently, Base utilizes Ethereum (ETH) as its gas token, and the introduction of a native token would substantially broaden the network’s economic framework. Armstrong mentioned, “We’re just updating our philosophy. As of now, we’re exploring it,” suggesting a more flexible approach moving forward.
Pollak referred to this initiative as “the next chapter” for Base, emphasizing that any decisions regarding a token will prioritize principles of decentralization and alignment among builders, creators, and network participants. While he acknowledged that the exploration is still in its early stages, he assured that Coinbase aims to proceed transparently, stating, “We don’t have all the answers, but we’re going to figure it out together—and we’re going to do it in the open.”
Furthermore, Pollak reiterated Base’s commitment to maintaining its close ties with Ethereum and indicated that Coinbase is dedicated to ensuring that any token-related plans comply with regulatory frameworks.
In conjunction with this news, Coinbase’s stock experienced a modest 0.6% uptick during midday trading, reflecting a shift in retail sentiment on Stocktwits, which moved from a neutral to a bullish outlook over the past day.
