Coinbase's Layer 2 network Base may soon launch a native token, founder Jesse Pollak stated at the BaseCamp event.
According to Base, the new token could support decentralization and expand opportunities for builders and creators. The network stated on Monday: "We are in the early stages of exploration and have no specific details to share regarding timing, design, or governance."
Base is a Layer 2 blockchain built on Ethereum and incubated by Coinbase. It processes transactions off-chain and then settles them on Ethereum.
Launched in 2023, the network has become the most widely used Ethereum Layer 2 blockchain, with Token Terminal data showing approximately 20.8 million monthly active addresses over the past 12 months.
While speaking at the BaseCamp event, Pollak also announced the launch of an open-source bridge connecting Solana, allowing users to transfer assets between the two chains and enabling developers to access a broader liquidity pool.
Pollak stated that Base is 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 have interoperability and connectivity."
The move to explore a native token for Base marks a shift from previous statements. Just in November 2024, Pollak praised Hyperliquid for prioritizing product development over token incentives in a post on X, stating there were no plans to launch a Base network token.
"We are focused on building. We want to solve the real problems that help you build better," Pollak wrote.
However, the potential Base token seems to be an evolution of the network rather than a change in stance.
"Initially, considering the launch of a token was not a priority for us because we felt the need to focus on the core product first," a Base spokesperson told Cointelegraph.
"Now that we have achieved sub-second, sub-cent transactions and expanded to an open stack, we are exploring a network token to further decentralize and make the ecosystem more open, accessible, and community-driven," Base stated.
The spokesperson also linked the token issuance to its decentralization goals. "Base is for everyone, and a network token can help more people participate in Base's on-chain economy."
Related: Crypto bank executives say on-chain collateral could lead to better loan terms
Original: “Base founder reveals native token plans at BaseCamp 2025 and announces Solana bridge launch”
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