Coinbase’s layer-2 network Base may soon launch a native token, creator Jesse Pollak said at the BaseCamp event.
According to Base, the new token could support decentralization and expand opportunities for builders and creators. “We’re in the early phases of our exploration, and don’t have any specifics to share around timing, design, or governance,” the network said Monday.
Base is a layer-2 blockchain built on Ethereum and incubated by Coinbase. It allows for the processing of transactions offchain before settling them on Ethereum.
Launched in 2023, the network has become the most widely used Ethereum layer-2 blockchain, with data from Token Terminal showing around 20.8 million monthly active addresses over the past twelve months.
Speaking at the BaseCamp event, Pollack also announced the launch of an open-source bridge to Solana, allowing users to move assets between the two chains and enabling developers to tap into a broader liquidity pool.
Pollack said Base was designed to be a “bridge, not an island,” adding that the goal is to strengthen the entire ecosystem by making it open and interoperable. “For a better global economy to work, we need it to be interoperable and connected.”
This is a developing story, and further information will be added as it becomes available.
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