Base, the layer 2 block chain developed by Coinbase (COIN)It is exploring the issuance of a native token, a movement that could stimulate an activity activity in what is already the second largest L2 as users try to ensure eligibility for a possible air.
“We are going to explore a network token,” said the creator of the network, Jesse Pollak on Monday at the Basecamp event.
“I will be in charge of all of you, it is early,” he added while the expectations of a possible release decreased.
When the base debuted in 2023, Coinbase said he had no plans to broadcast a token. It is not clear if what is being considered now will be a standard government record or if it will be useful in the chain. The base undertakes to build the Token in Ethereum and will work with the issuance and distribution regulators, said Pollak.
“As an American company, we are committed to working with regulators and legislators, and doing this well,” he said.
The base has accumulated $ 5 billion in total value blocked (TVL) Since it was introduced, with $ 1.7 billion added only in 2025. It is the largest layer 2 behind the TVL referee, according to L2Beat.
The largest layer 2 token is currently a mantle (MNT) with a market capitalization of $ 5.3 billion despite only $ 219 million in capital blocked on the network. That is approximately twice the value of Polygon, Arbitrum and Optimism tokens, three of the best known 2s layers, whose native tokens are worth between $ 1.3 billion and $ 2.7 billion.
Although TVL is smaller, the base has the number of user operations per second seven times (UOPS) That the referee, and the most impressive metric is the transactions count in the last 30 days: 328 million transactions sent at the base, eclipseing the 77 million of the referee.
Both eclipsan Ethereum Mainnet, which facilitated less than 50 million transactions in the same period.
UPDATE (September 15, 16:12 UTC): Add context at all times, includes data points on the use of the base.
