The layer 2 Base blockchain, developed by cryptocurrency exchange Coinbase, may gain a native token. Although Coinbase said at the blockchain launch in August that it did not intend to launch a token at first, Coinbase Chief Legal Officer Paul Grewal has now said that the exchange is not ruling out the possibility.
In an interview with the crypto portal Decrypt, at Messari’s Mainnet event, the executive stated that the launch of Base’s native token “is not something we completely rule out”.
“I think a token could be viable at some point in the future,” Grewal added.
Base’s native token
As Grewal highlighted, right now, the Base blockchain is focused on providing tools and technology for users to experiment with:
“The goal has always been to expand opportunities and provide the tools and technology to enable others to exercise their own creativity.”
On the other hand, he stated that Base is not as focused on tokenization and other use cases that can bring people into the crypto sector.
“The economics and tokenization of the protocol is frankly something we’re less focused on at the moment for the simple reason that I think when it comes to developing the Base, one of the main drivers for us has been a recognition, perhaps even a bit of humility , that we don’t have all the answers at Coinbase,” he said.
Last week, as reported by CriptoFácil, Base launched a solution focused on security called Pessimism. The objective of the solution is to increase the security of Base, as well as OP Stack blockchains and networks compatible with EVM (Ethereum Virtual Machine). The tool will quickly detect and respond to a multitude of protocol threats.
The Base mainnet officially opened to the public on August 9, with daily active users surpassing 100,000.