Coinbase Eyes Token Launch for Ethereum Layer-2 Network, Base

Coinbase is considering launching a native token for Base, its Ethereum layer-2 (L2) network. This marks a shift from previous statements indicating no active plans for such a token. The announcement came during the Basecamp event, with Jesse Pollak, Head of Base, confirming the exploration.

"Base is beginning to explore a network token," the official Base account posted on X. Details about the timing, design, and governance are currently scarce, with the company emphasizing a commitment to open development and community involvement.

Coinbase clarified, "Yes, Base is exploring a network token, but has no definitive plans," adding that they are investigating how a token could accelerate their shared objectives.

Key Takeaways:

• Coinbase is exploring a native token for its Base L2 network.
• Details are limited, but Coinbase emphasizes community involvement and open development.
• This represents a strategic shift for Coinbase and could impact the Base ecosystem significantly.

This announcement has generated considerable buzz within the crypto community, with many speculating about the potential benefits and use cases of a Base token. Further details are anticipated as Coinbase progresses in its exploration phase.