Coinbase’s blockchain initiative, Base, is shaking things up with two big announcements. The company is now looking into creating its own network token. On top of that, it’s also launching a new bridge that connects Base to the Solana blockchain. These moves signal a fresh direction for the Ethereum Layer 2 network.
Jesse Pollak, the brains behind Base, shared these plans at the recent BaseCamp event. He mentioned, "We’re going to explore a network token." Pollak was quick to point out that these discussions are just starting. This means a token launch isn’t happening tomorrow. The Base team later posted on X, confirming these explorations. They noted that specific details about timing, design, or how it will be managed are not ready yet. They promised to involve the community and develop everything openly.
Coinbase introduced Base early in 2023. This move made Coinbase the first public crypto exchange to create its own blockchain platform. The company first said Base would not have its own token. But over time, their view has changed. Paul Grewal, Coinbase’s Chief Legal Officer, had previously hinted that a Layer 2 network token could become possible in the future. He made it clear the idea was never truly off the table.
Base’s Token Plans and Solana Bridge
Pollak stated at the event that Base aims to build its token on Ethereum. They will also work closely with regulators on how to issue and share it. Brian Armstrong, Coinbase’s CEO, backed up the token idea on social media. He explained that a token could help Base become more decentralized. It could also boost growth for creators and developers within the ecosystem.
Armstrong emphasized that these are still early talks. "To be clear, there are no definitive plans," he said. "We’re just updating our philosophy. As of now, we’re exploring it." This statement shows caution while also highlighting the potential benefits.
We’re exploring a Base network token.
It could be a great tool for accelerating decentralization and expanding creator and developer growth in the ecosystem.
To be clear, there are no definitive plans. We’re just updating our philosophy. As of now, we’re exploring it. https://t.co/BK3asbMpar
— Brian Armstrong (@brian_armstrong)
Meanwhile, Base also revealed a new connection to Solana. This bridge is designed to make the two blockchains work better together. "For a global economy to work better, it must be interoperable and connected, not isolated and closed," the project team explained. This shows a commitment to a more unified blockchain world.
Base has seen strong growth since its launch. It now holds $5 billion in Total Value Locked (TVL). A significant $1.7 billion was added in 2025 alone. This makes Base the second-largest Layer 2 network, right behind Arbitrum, according to data from L2Beat.
