Jesse Pollak, founder of Base, delivered the announcement during the Base Camp event, where the network’s vision to scale from tens of millions to billions of global users was outlined.
On September 15, Base officially announced that a native network token was being explored during its Base Camp event. This marks a potential milestone for Coinbase’s Ethereum layer-2 network as it targets global adoption.
During his presentation at the event, the announcement was delivered by Base founder Jesse Pollak, who outlined the network’s vision to scale from tens of millions to billions of global users.
The token exploration was positioned by Pollak within three core principles: achieving complete decentralization, aligning builders and creators as economic participants, and pushing the boundaries of crypto to unlock new systems.
“The economy can only work if we’re the ones shaping it and benefiting from it.”
He stated:
Additionally, the rationale behind creator and developer alignment through tokenization was explained by him.
Classified as a stage one rollup, Base is equipped with a decentralized fraud or proof submission system and a security council.
It is not, however, fully decentralized, and additional work is required to achieve complete decentralization in stage two. The potential token represents a mechanism to accelerate this transition while incentivizing ecosystem participation.
Coinbase’s co-founder and chief executive, Brian Armstrong, confirmed the project’s progress in a post on X, remarking that the asset “could be a powerful tool for accelerating decentralization and fostering creator and developer growth within the ecosystem.”
Armstrong made it clear that no definitive plans exist, referring to the announcement as a philosophical update while the team explores potential options.
Three Key Commitments Unveiled
Pollak outlined three firm commitments regarding the token’s development. Base remains dedicated to building on Ethereum, dismissing any speculation about alternative blockchain foundations.
Additionally, the team pledges to “do this right” by collaborating with regulators and legislators, leveraging Coinbase’s 15-year compliance track record.
Base Commits to Transparent Development Through Community Engagement and Open Feedback
Base’s final commitment is 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 that advice was received to keep exploration private but chose the “Base way” of open development without predetermined answers.
Community input is planned to be gathered by Base during the two-day Base Camp event, which will inform token development in accordance with the network’s values.
The announcement was described by Pollak as “a new day one” opportunity to leverage tokenization for building a global economy.
The exploration phase is beginning without specific timelines or implementation details, as community consultation and regulatory compliance will be prioritized by Base before the token’s development is advanced.
