Coinbase developers, including Jesse Pollak, announced that they are exploring the possibility of launching their own token for the Base network, which is based on Ethereum. This decision marks an unexpected shift, as company representatives had previously stated that there would be no token for Base.
Change in Coinbase's Strategy
Jesse Pollak, one of the core developers of the Base network, reported that the project is in the early stages of exploring the launch of a proprietary token. He noted that there are no details regarding timing, design, or governance. Coinbase had repeatedly claimed that the company had no plans to create a token for Base.
Support from Coinbase CEO
Coinbase CEO Brian Armstrong confirmed that the company is investigating the implementation of a token for the Base network. He emphasized that there are no definitive plans: 'We are just exploring it for now.' This move could facilitate the acceleration of decentralization within the ecosystem and foster the growth of creators and developers.
Context and Implications
These statements coincide with recent news regarding the launch of the INK token for the Ink network developed by Kraken. The attention on the potential token launch by Coinbase raises questions about the future of other tokens on Ethereum platforms and their possible impact on the cryptocurrency market.
The exploration of creating a token for the Base network reflects Coinbase's changing approach to tokenization. A vital aspect of this process remains community involvement and transparency in development.
