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:

“The economy can only work if we’re the ones shaping it and benefiting from it.”

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.

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Author: Gino Matos