Popular US cryptocurrency exchange Coinbase does not plan to issue native tokens for its layer-2 (L2) blockchain Base.
Coinbase CEO Brian Armstrong told Decrypt: There are no plans to issue a token for now. expressed. However, you cannot fully implement a token project. that they did not ignore and stated that such a thing might be possible in the future.
While Armstrong stated that they will continue to carry out transactions at layer-2 so that transactions on the network can be carried out in 1 second and at a cost of 1 cent, he emphasized that this situation is not compatible with token plans for now:
We do not plan to issue any tokens for Base. I think a token could be viable at some point in the future. This isn’t something we ignore completely. To achieve performance targets of one cent and sub-one second, we need to ensure that probably 99% of transactions occur at layer-2. We don’t want to make Base a Coinbase product, but rather turn it into a much broader service. We’re trying to do this in a way that’s interoperable with the rest of the crypto community.
The Base network, which has approximately $500 million worth of locked assets for token issuance community demand has been high since day one. Particularly early stage participants who trade on the network are interested in the possibility of a possible token. air drop He thought it would be given as
Coinbase’s Chief Legal Officer Paul Grewal In a statement made last September, he stated that they were considering issuing a token for Base. These statements excited the community, but according to the latest statement made by the CEO, it seems that there will be no token development in the near future.