Base Network Thrives Without Token
Coinbase's Base Network is redefining blockchain by achieving record growth and innovation without launching a native token.
The Ethereum Layer-2 blockchain Base, created by Coinbase, has confirmed it will not launch its own token. Instead, the network is focused on supporting decentralized applications (dApps) and solving practical challenges, a strategy that has helped it achieve significant milestones.
Jesse Pollak, Base’s lead developer, emphasized this approach in a post on November 30. He stated that the team prioritizes building tools for developers to create innovative solutions. Base’s open-source framework, adherence to open standards, and commitment to open markets are driving creativity and progress. Pollak reaffirmed there are no plans for a network-specific token, despite rumors fueled by the platform's rapid growth.
Recent data highlights Base’s success without token incentives. On November 26, the network achieved a record-breaking average of 132.50 daily transactions per second (TPS), surpassing its previous peak of 106.86 TPS. Analytics platform Nansen also reported that Base reached 11.4 million transactions on November 28, marking a fiftyfold increase compared to the previous year.
Base now holds the second-highest Total Value Locked (TVL) among Ethereum Layer-2 networks, with $12.54 billion. It trails only Arbitrum in this category. This strong performance has been attributed to Base’s thriving ecosystem, which actively supports gaming and decentralized finance (DeFi) applications like Uniswap and Aerodrome. The success of viral projects such as Clanker and Virtuals Protocol memes has further enhanced its popularity.
As a Coinbase-backed initiative, Base benefits from the resources and user base of its $73 billion parent company. This connection simplifies dApp interaction and enhances scalability, making the network a leader in the Ethereum Layer-2 space. Observers note that Base’s developer-friendly environment and commitment to solving real-world issues position it as a top contender against rivals like Optimism.
By focusing on practical use cases and developer needs, Base continues to grow without relying on token incentives, cementing its role as a pioneering blockchain network.
