Base, the layer-2 blockchain developed by Coinbase (COIN), is exploring the possibility of issuing its own token, a move that could trigger a surge in user activity on the platform. The announcement was made by Base creator Jesse Pollak at the BaseCamp event on Monday.
“We’re going to be exploring a network token,” Pollak stated, while also managing expectations by adding, “I will be up front with y’all, it’s early.”
The news marks a shift from Base’s initial stance in 2023 when Coinbase stated there were no plans for a token. It remains unclear whether the potential token would serve as a standard governance token or have on-chain utility. Pollak noted that the token would be built on the Ethereum network and that the company is committed to working with regulators on its issuance and distribution.
“As a U.S. company, we’re committed to working with regulators and legislators, and doing this right,” he said.
Base has become the second-largest layer-2 network by total value locked (TVL), amassing $5 billion since its 2023 launch, with $1.7 billion added in 2025 alone, according to L2Beat. The network also boasts a significantly higher transaction count than its rivals. Over the past 30 days, Base processed 328 million transactions, far outpacing Arbitrum’s 77 million and Ethereum’s mainnet, which saw fewer than 50 million.
