Base officially announced exploration of a native network token during its Base Camp event on Sept. 15, marking a potential milestone for Coinbase’s Ethereum layer-2 network as it targets global adoption.
Base founder Jesse Pollak delivered the announcement during his presentation at the event, outlining the network’s vision to scale from tens of millions to billions of users globally.
Pollak positioned the token exploration within three core principles: achieving complete decentralization, aligning builders and creators as economic participants, and pushing the boundaries of crypto to unlock new systems.
He stated:
Additionally, he explained the rationale behind creator and developer alignment through tokenization.
Base currently operates as a stage one rollup, consisting of a decentralized fraud or proof submission system and a security council.
However, it is not fully decentralized, requiring additional work to achieve complete decentralization in stage two. The potential token represents a mechanism to accelerate this transition while incentivizing ecosystem participation.
Brian Armstrong, co-founder and CEO of Coinbase, confirmed the development via X, stating the token “could be a great tool for accelerating decentralization and expanding creator and developer growth in the ecosystem.”
Armstrong emphasized that no definitive plans exist, referring to the announcement as a philosophical update as the team explores possibilities.
Three key commitments
Pollak made three explicit commitments regarding token development. Base remains committed to building on Ethereum, rejecting speculation about alternative blockchain foundations.
Further, the team pledges to “do this right” by collaborating with regulators and legislators, drawing on Coinbase’s 15-year compliance track record.
Finally, Base commits to transparent development, building “in the open” through community engagement and feedback.
The announcement follows Base’s decision to embrace transparency over secretive development. Pollak acknowledged receiving advice to keep exploration private but chose the “Base way” of open development without predetermined answers.
Base plans to gather community input during the two-day Base Camp event to inform token development in accordance with the network’s values.
Pollak described the announcement as “a new day one” opportunity to leverage tokenization for building a global economy.
The exploration phase begins without specific timelines or implementation details, as Base will prioritize community consultation and regulatory compliance before advancing the development of the token.
Mentioned in this article
Source: https://cryptoslate.com/base-officially-explores-native-token-launch-to-boost-decentralization-and-global-growth/
