Coinbase Base Network Grows Without Original Token

The Layer-2 Ethereum network named Base, developed by Coinbase, confirmed that there are no plans to issue its own Token despite being quickly accepted and havi...

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The Layer-2 Ethereum network named Base, developed by Coinbase, confirmed that there are no plans to issue its own Token despite being quickly accepted and having a strong growth in the number of users.

Instead, the network is committed to accelerating the development of decentralized applications (dApps) and strengthening its developer community.

Base Achieve Record TPS and TVL Achievements Without Token Incentives

Jesse Pollak, Base’s lead developer, shared this vision in an X post on November 30. Pollak emphasized that the team’s main goal is to oversee practical challenges by creating new technology. tools that enable developers to build better solutions.

He describes Base’s strengths as coming from open source, compliance with open standards and focus on open markets. According to him, these characteristics are driving innovation and creativity in blockchain networks.

“There are no plans to issue a separate Token for the Base network. We focus on construction and want to solve real problems that help you build better,” Pollak stated.

These assertions come amid speculation about a Token issuance that has been triggered by the network’s impressive growth momentum. On November 28, analytics platform Nansen reported that Base had reached 11.4 million transactions, a 50-fold increase from 263K transactions the previous year.

Trade on Coinbase-Base. Source: X/Nansen

Furthermore, data from L2beat revealed that Base hit a record average of 132.50 transactions per second (TPS) on November 26, surpassing the previous milestone of 106.86 TPS.

These achievements have helped Base rank 2nd in Total Value Locked (TVL) among Ethereum Layer-2 solutions, reaching $12.54 billion — second only to Arbitrum.

Top 5 Ethereum Layer-2 Networks according to TVL. Source: L2Beat

Market observers highlight Base’s robust ecosystem as a key driver of its popularity. The network actively supports gaming and DeFi (DeFi) applications such as Uniswap, Aerodrome, and others. The viral success of meme trends like Clanker and Virtuals Protocol has also increased its appeal.

The network’s success also depends on its connection to Coinbase. As a platform backed by a $73 billion company, Base benefits from a massive user base and resources that simplify dApp interactions while improving scalability.

This puts Base at the forefront of Ethereum’s Layer-2 space, surpassing competitors such as Optimism.