Key Points
- Base network founder, Jesse Pollak, has initiated discussions about a potential Base token.
- The proposed Base token has sparked debates about its purpose and who would benefit from it.
Jesse Pollak, the founder of Ethereum’s most lucrative Layer-2, the Base network, has recently initiated conversations about the possibility of launching a native Base token.
His proposal quickly garnered attention within the crypto community, sparking debates about the token’s purpose and the potential beneficiaries.
Base Token: A First for Publicly Traded Companies
AJC, a researcher at Messari, pointed out that if the Base token were to be airdropped, it would be the first blockchain token launched by a publicly traded company, notably Coinbase.
Traditionally, token generation events (TGEs) are designed to provide liquidity for private investors and founding teams, with an emphasis on maximizing launch value over long-term project stability.
In the case of the Base token, AJC argues that the situation is fundamentally different.
As Coinbase is a publicly traded company, any token distribution must benefit its shareholders.
AJC explained that shareholders would not willingly relinquish control of the BASE token unless it enhances the overall value of Coinbase’s equity.
The Design of the New Crypto Token
The design of the new crypto token, according to the researcher, must increase shareholder value while still rewarding the Base community.
AJC added that simply incentivizing DeFi metrics, like total value locked or trading volume, would attract short-term capital but wouldn’t contribute to sustainable growth.
Instead, Coinbase should focus on activities that promote social and consumer engagement.
Community Suggestions for Fair and Sustainable Launch
Another crypto commentator echoed AJC’s sentiment, urging Pollak to reward developers who are building on-chain apps and assets and active users contributing to the ecosystem.
Hnwcrypto, an investor and entrepreneur, suggested that the Base token should be released before the end of 2025 to take advantage of favorable market conditions.
He proposed a fair, community-driven model, while avoiding the hype-driven volatility that often accompanies launches.
Airdrop Plans and Speculations
In September, Coinbase CEO Brian Armstrong confirmed that the exchange is “exploring” a native token, reversing its earlier stance of having no such plans.
This announcement ignited speculation about an airdrop, similar to previous Layer-2 launches like Optimism and Arbitrum.
Analysts predict that the airdrop will likely reward early participants who bridged assets, interacted with on-chain apps, and supported the Base community.
