- The CEO of Coinbase confirmed that they plan to launch a Base network token.
- A Base creator assured the crypto community that they will continue building within the Ethereum network.
Coinbase CEO Brian Armstrong confirmed in his official social media account on X that they plan to launch a token for their platform. According to the exec, the Base network token aims to accelerate decentralization and reinforce the growth of creators and developers within the Coinbase ecosystem.
“We’re exploring a Base network token,” said Armstrong. “It could be a great tool for accelerating decentralization and expanding creator and developer growth in the ecosystem.”
However, Armstrong clarified that they are still in the exploration process for the new token, while updating their company’s philosophy to mirror their long-term goals.
“To be clear, there are no definitive plans,” he added. “We’re just updating our philosophy. As of now, we’re exploring it.”
Turning Base Into a Decentralized Network
Alongside the post, Armstrong shared the presentation of creator Jesse Pollak at the BaseCap event. The creator emphasized that Base has to be a decentralized network, so they are already working on achieving their vision.
Additionally, Pollak stated that it’s important for builders, creators, and people to be aligned participants because the digital economy can only work if the members of the community are the ones shaping and benefiting from it. Moreover, he pointed out that everyone should be pushing the boundaries of crypto through creativity to sustain innovation.
Interestingly, the creator dropped the bomb about their ongoing effort to create a network token for Base. He explained that they are still in the early phase of exploration for the token, as Armstrong confirmed. Nonetheless, he believes it would be a powerful tool for achieving Coinbase’s vision and in improving the global economy.
Commitment in the Ethereum Ecosystem
Despite the big reveal, Pollak claimed Coinbase remains committed to building within the Ethereum (ETH) network. He also underscored their company’s commitment to working with regulators and legislators to ensure compliance and keep the public’s best interests and confidence above all.
Furthermore, Pollak guaranteed the crypto community that they will be sharing their progress regularly and listen to what people have to say about it, to pave the way for a collaborative effort in realizing Base’s vision.
The creator’s statement comes nearly a year after he denied speculations that Coinbase was working on a Base token. During that time, he told people that they were only focused on building solutions for real-world problems.
What’s your Reaction?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
