Coinbase Base Network Rules Out Token Launch

The Ethereum Layer-2 network Base, developed by Coinbase, has confirmed it has no plans to introduce a native token despite its rapid adoption and growing user base.

Instead, the network remains committed to fostering decentralized application (dApp) development and empowering its developer community.

Base Achieves Record TPS and TVL Without Token Incentive

Jesse Pollak, the lead developer of Base, shared this vision in a post on X on November 30. Pollak emphasized that the team’s primary goal is to address real-world challenges by creating tools that enable developers to build better solutions.

He described Base’s strengths as its open-source nature, adherence to open standards, and focus on open markets. According to him, these features are helping to drive the blockchain network’s innovation and creativity.

“There are no plans for a Base network token. We are focused on building. and we want to solve real problems that let you build better,” Pollak stated.

This clarification comes amidst speculation about a potential token launch fueled by the network’s impressive growth. On November 28, analytics platform Nansen reported that Base reached 11.4 million transactions. This represents a 50-fold increase from the 263,000 transactions it recorded in the previous year.

Additionally, data from L2beat revealed that Base achieved a record-breaking average of 132.50 daily transactions per second (TPS) on November 26, surpassing its earlier milestone of 106.86 TPS.

These milestones have contributed to Base securing the second-highest Total Value Locked (TVL) among Ethereum Layer-2 solutions, reaching $12.54 billion — trailing only Arbitrum.

Market observers highlighted Base’s thriving ecosystem as the key driver of its popularity. The network actively supports gaming and decentralized finance (DeFi) applications like Uniswap, Aerodrome, and others. The viral success of initiatives like the Clanker and Virtuals Protocol meme trends has further bolstered its appeal.

The network’s success is also tied to its connection with Coinbase. As a platform backed by a $73 billion company, Base benefits from a massive user base and resources designed to simplify dApp interactions while improving scalability.

This positions Base as a leading contender in the Ethereum Layer-2 space, outpacing competitors like Optimism.