Jesse Pollak, one of the core developers of Base, the Ethereum-based Layer 2 network of Coinbase, the largest cryptocurrency exchange in the United States, said the project is exploring launching its own token.
This move by Coinbase comes months after the Kraken-developed Ink network announced that it would be launching an INK token.
These statements from Jesse Pollak mark a sharp reversal in Coinbase’s previous rhetoric, as Coinbase representatives have consistently stated that they have no plans to issue a token for Base, which currently uses ETH as its gas token.
The following statements were made in the post made by the X account:
“Base begins exploring a network token
We’re in the early stages of exploration and don’t have any details to share about timing, design, or governance. We’re committed to taking the community with us and building in the open.”
While Coinbase acknowledged that the Base network is researching a token, it added that it has no definitive plans to share at this time.
Coinbase CEO Brian Armstrong also confirmed the plans but shared that there is no certainty.
“We are investigating a Base network token.
It can be a great tool for accelerating decentralization in the ecosystem and expanding creator and developer growth.
“Frankly, we don’t have a definitive plan. We’re just exploring it for now.”
*This is not investment advice.