Coinbase’s Layer-2 Network Base May Launch Native Token
Coinbase’s layer-2 network, Base, might soon introduce a native token, as stated by creator Jesse Pollak during the BaseCamp event.
According to Base, this upcoming token could facilitate decentralization and broaden opportunities for creators and builders. “We’re in the early phases of our exploration and don’t have any specifics to share around timing, design, or governance,” the network mentioned on Monday.
Base is a layer-2 blockchain built on Ethereum and incubated by Coinbase, enabling the processing of transactions offchain before they are settled on Ethereum.
Since its launch in 2023, the network has emerged as the most prominent Ethereum layer-2 blockchain, with data from Token Terminal indicating approximately 20.8 million monthly active addresses over the last year.
During the BaseCamp event, Pollak also revealed the release of an open-source bridge to Solana. This bridge will allow users to transfer assets between the two chains, giving developers access to a more extensive liquidity pool.
Pollak emphasized that Base was intended to be a “bridge, not an island,” highlighting the objective of enhancing the entire ecosystem by ensuring it remains open and interoperable. “For a better global economy to work, we need it to be interoperable and connected,” he stated.
