Controversy Surrounds Base Token Plan Amid Shareholder Value Concerns
Debate Surrounds Base Network's Native Token as Analysts Predict Airdrop for Long-Term Ecosystem Growth
Key Points
- Founder of Base network, Jesse Pollak, prompts discussions about a potential native Base token launch.
- Opinions vary on the token’s purpose and who would benefit most from it.
Jesse Pollak, the founder of Ethereum’s most profitable Layer-2, Base network, recently sparked a conversation about the potential launch of a native Base token.
His post quickly garnered attention from the crypto community, leading to debates about the token’s purpose and potential beneficiaries.
First Blockchain Token by a Publicly Traded Company
AJC, a researcher at Messari, pointed out that if the Base airdrop happens, it would be the first blockchain token launched by a publicly traded company, namely Coinbase .
Traditionally, token generation events (TGEs) are used to provide liquidity for private investors and founding teams, aiming to maximize launch value over long-term project stability.
However, AJC argues that the case of the Base token is fundamentally different.
As Coinbase is a publicly traded company, any token distribution must benefit its shareholders.
AJC explained that shareholders would not willingly relinquish control of the BASE token unless it enhances the overall value of Coinbase’s equity.
Therefore, according to AJC, the design of the new crypto token should increase shareholder value while also rewarding the Base community.
Community Advocates for Equitable Launch
Another crypto commentator echoed this sentiment, urging Pollak to reward developers who are building on-chain apps and assets, and active users contributing to the ecosystem.
Investor and entrepreneur Hnwcrypto suggested that the Base token should be released before the end of 2025 to take advantage of favorable market conditions.
He proposed a fair, community-driven model, while avoiding the hype-driven volatility often associated with launches.
He also suggested rewarding Farcaster users, ensuring equitable access for investors, and introducing a mascot to strengthen the token’s identity.
Anticipation Builds Around Potential Airdrop
In September, Coinbase CEO Brian Armstrong confirmed that the exchange is “exploring” a native token, reversing its earlier stance of having no such plans.
This announcement fueled speculation of an airdrop, similar to previous Layer-2 launches like Optimism and Arbitrum.
Analysts predict that the airdrop, if it happens, will likely reward early participants who bridged assets, interacted with on-chain apps, and supported the Base community.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AMD (AMD.US) Surpasses $1 Trillion Market Cap and Begins Competing for "Computing Power Definition Rights"! Officially Announces $8.2 Billion Acquisition of Fei-Fei Li's World Labs
AMD has agreed to acquire World Labs for $8.2 billion, thereby gaining access to the artificial intelligence startup founded by industry pioneer and researcher Fei-Fei Li. This acquisition is expected to help AMD plan its future hardware launches by bringing in a team of top researchers and their models, as well as deep insights into trends in the field of artificial intelligence.
A Major Reversal Amid the U.S. Bond Selloff! Bond Market Veteran Bianco Turns Bullish for the First Time in Six Years, Calling 5% Yield a "Value Buy Opportunity"
Currently, as benchmark U.S. Treasury yields surge to their highest levels in nearly two decades, bond market veteran Jim Bianco has loosened his bearish stance for the first time and is gradually building long positions as a "value buyer."
New Zealand Dollar steadies near its lows as RBNZ hike bets keep building
Overnight U.S. Stocks | All Three Major Indexes Fall, 10-Year Treasury Yield Hits Nearly 20-Year High, Oil Prices Volatile, Gold Drops Nearly 4%
At market close, the Dow Jones Industrial Average fell 347.11 points, or 0.67%, to 51,481.51 points; the S&P 500 Index dropped 59.72 points, or 0.77%, to 7,683.69 points; and the Nasdaq Composite Index declined 248.34 points, or 0.92%, to 26,820.38 points.
Crypto prices
More
