Jesse Pollak, the creator of Base, confirmed today that he is XEM launching a network Token. There are no specific plans at this time, but Coinbase is determined to conduct a thorough investigation.
Pollak wanted to proceed at this early stage to maintain maximum transparency, which led to excitement in the community. Additionally, the Trump regulatory environment presented a golden opportunity to launch the property.
Base's New Network Token ?
Base, an Ethereum L-2 blockchain launched by Coinbase, is a major infrastructure builder and host of many meme coins . However, it currently has no native assets.
Today, Base creator Jesse Pollak announced that developers are exploring a Token network, and Coinbase CEO confirmed this:
Everyone involved was very clear that they had no concrete plans to launch a Base network Token. However, Coinbase developers found the exploration worthwhile for a few reasons.
Goals and opportunities
Pollak mentioned two “north stars,” pushing the boundaries of cryptocurrency and rewarding ecosystem participation, as key points of interest. While Base developers have not yet given specifics on the “timing, design, or governance” of the network Token, he was able to Chia a few key details.
First and foremost, developers will continue to build this infrastructure exclusively on Ethereum. There may be arguments for a multi- chain future, but Base is first and foremost an ETH L-2.
Pollak also mentioned that the company will work with US regulators to develop a fully compliant Token network.
This goal may have been unachievable during Coinbase’s previous legal troubles , but Trump’s new pro-crypto agenda could create a golden opportunity for deeper integration into the US market.
Ultimately, Base is committed to developing this Token network in an open and decentralized way, which is why Pollak announced this so early.
He discussed the urge to keep these plans secret until the team made more progress, but decided that complete transparency should be a core pillar.
Naturally, this news could be huge. Coinbase is a giant in the cryptocurrency industry, and a Token network for Base could open up a wealth of new market opportunities. This exploration could lead to developers deciding that a full plan is not feasible, but the possibility alone has created a lot of excitement in the community.
