Coinbase’s Ethereum Layer-2 network, Base, has officially stated it will not launch its own token, despite speculation following its rapid growth. Instead, the network is prioritizing developer support and addressing real-world blockchain challenges.
Jesse Pollak, Base’s lead developer, reiterated the network’s focus on building tools for innovation in decentralized applications (dApps). “There are no plans for a Base network token.
We are focused on building and solving real problems,” Pollak stated on November 30. Base’s commitment to being open-source and adhering to open standards underscores its goal of fostering an accessible and creative ecosystem.
Base’s performance highlights its success. On November 28, the network processed 11.4 million transactions, a significant rise from 263,000 the previous year, as reported by Nansen.
It also achieved a record 132.50 transactions per second (TPS) on November 26, surpassing its earlier milestone of 106.86 TPS, according to L2beat.
Base’s ecosystem supports thriving applications like Uniswap and Aerodrome, alongside viral trends such as Clanker and Virtuals Protocol memes, driving user engagement. With a Total Value Locked (TVL) of $12.54 billion, Base ranks second among Ethereum Layer-2 solutions, trailing only Arbitrum.
Backed by Coinbase, valued at $73 billion, Base benefits from enhanced scalability and seamless dApp user interactions. By eschewing token incentives, the network focuses on innovation and practical applications, solidifying its position as a leader in the Layer-2 market. Base’s success reflects the potential of blockchain networks to excel through developer-centric strategies and community-driven growth.
