Base

Coinbase’s Base network rejects token launch

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

Coinbase’s Base Network Achieves Consistent Growth, Reaching $734 Million in Total Value Locked

Despite a slowdown in the initial growth surge, Coinbase‘s Base Network, an initiative developed through its incubator, continues to make steady progress. According to L2Beat data, the Total Value Locked (TVL) in the Base Network has risen to nearly $734 million, a 4.63% increase from the previous week. The Base Network TVL has increased significantly since its formal launch in August 2023, starting at $592 million at the end of