Base, the 2 layer 2 blockchain developed by Coinbase (COIN)Explore the publication of a native token, a decision that could stimulate a peak of activity in what is already the second L2 the largest while users try to guarantee eligibility for a potential air card.
“We are going to explore a network token,” the creator of the network, Jesse Pollak said on Monday during the Basecamp event.
“I will be in advance with all of you, it is early,” he added while he makes expectations at the time of a possible release.
When Base made his debut in 2023, Coinbase said he did not intend to issue a token. It is not clear if what is now considered will be a standard governance token or if it will have a use on chain. Base undertakes to build the token on Ethereum and will work with regulators on the issue and distribution, said Pollak.
“As an American company, we are committed to working with regulators and legislators and doing so properly,” he said.
The base has raised $ 5 billion in total locked value (TVL) Since its presence, with $ 1.7 billion added in 2025 only. This is the largest layer of layer 2 behind arbitrum by TVL, according to L2Beat.
The biggest layer 2 token is currently the coat (MNT) With a market capitalization of $ 5.3 billion despite only $ 219 million in capital locked on the network. It is almost double the value of polygone, arbitrum and optimism tokens – three of the most famous layers 2 – whose native tokens are worth between 1.3 billion and 2.7 billion dollars.
Although TVL is smaller, the base has seven times the number of user operations per second (Uops) that Arbitrum, and the most impressive metric is the number of transactions in the last 30 days: 328 million transactions sent on the basis, overshadowing the 77 million arbitrum.
The two eclipse the Mainnet Ethereum, which facilitated less than 50 million transactions during the same period.
UPDATE (September 15, 4:12 PM UTC):: Adding context everywhere, includes data points on the use of the base.
