About Base

What is Base and why does it matter?

Base is an Ethereum Layer 2 blockchain incubated by Coinbase. It launched in August 2023 using Optimism’s OP Stack. The chain is designed for speed, low fees, and mass adoption—Coinbase calls it a bridge to bring the next billion users onchain. So why does Base matter? It sits at the intersection of exchange infrastructure and open blockchain networks, making it a rare hybrid of crypto-native and mainstream finance.

Does Base have its own token?

Not yet. All transactions currently use ETH as the gas token, with costs roughly 10x lower than Ethereum mainnet. That makes Base stand out among major L2s, which usually issue their own coins. But in September 2025, Jesse Pollak revealed Base is “exploring” a native token. Details are early—no design, no governance plan, and no timeline—but the shift is a big departure from their original stance.

What about tokenomics or supply allocation?

Since there’s no Base token today, there’s no official tokenomics. If launched, it would likely follow the L2 playbook: allocations to the team, early contributors, ecosystem funds, and community programs. You might wonder—would Coinbase itself keep a large stake? That’s not clear, but any design would need to balance decentralization with Coinbase’s influence.

Are there vesting or unlock schedules?

No. With no coin yet, there are no unlock events. If a token is introduced, vesting would probably resemble peers like Optimism or Arbitrum: multi-year schedules for insiders, alongside community distributions and liquidity incentives. Until then, the question of unlocks is entirely hypothetical.

How is Base funded if not through a token sale?

Instead of traditional ICOs or private rounds, Base is bankrolled by Coinbase itself. More importantly, Coinbase Ventures runs the Base Ecosystem Fund, which has already backed 40+ Base-native projects like Avantis, BSX, Onboard, and OpenCover. Over 800 teams applied for support, showing strong builder demand. It’s less about speculative fundraising and more about strategic incubation.

Has Base run any airdrops or campaigns?

Yes—Base has leaned heavily on ecosystem campaigns rather than direct token drops. The most famous was Onchain Summer, featuring Coca-Cola, Atari, and OpenSea. Since September 2023, an ongoing activity-driven airdrop has encouraged users to bridge ETH, trade on Base DEXs, buy NFTs, and interact with dApps. Participation guidelines stress keeping activity frequent and holding ETH on Base. After the September 2025 token exploration news, speculation about a retroactive drop only intensified.

Where can tokens and assets on Base be traded?

Base assets flow through both DEXs and CEXs. Uniswap V3, Aerodrome, and PancakeSwap V3 all run on Base, with popular pairs like AERO/USDC and AERO/WETH. Aerodrome has quickly become the dominant DEX, handling liquidity for stablecoins (USDC, USDT), wrapped ETH, and cbBTC. Thanks to full EVM compatibility, Base plugs straight into the wider Ethereum trading world.

What’s on the roadmap for Base?

The 2025 roadmap is ambitious: sub-200ms block times, expanded throughput (from 30 to 50 Mgas/s), and reaching “Stage 1 decentralization.” Base also plans to deepen its role in the Optimism “Superchain”—a network of interoperable L2s. With more than 25,000 developers already building, the focus is on scaling DeFi, NFTs, payments, and gaming into mainstream-ready apps. Alongside infra upgrades, Base began testing a social app waitlist in July 2025, signaling a push into consumer-facing experiences.

Are there risks in using Base?

Yes, though Coinbase’s backing mitigates some. Technical risks remain with smart contracts and rollup infrastructure. Centralization is a known concern—Base is still controlled by Coinbase, though decentralization is promised. Regulatory risk is significant since Coinbase is a US public company. And of course, competition is fierce: Arbitrum, Polygon, and others are chasing the same L2 prize. Still, with $5B+ in ecosystem value, Base has momentum on its side.