Base has opened the door to a potential native token following announcements at BaseCamp 2025, a move that could redefine governance and incentives on Coinbase’s layer 2. The initiative would impact developers, users, and institutional investors, although no details on tokenomics or a timeline have been shared yet. The discussion occurs in a context of heightened regulatory attention and network technical maturity.
Context and Impact
The possibility of a Base token was announced at BaseCamp 2025 in mid-September, marking a shift from earlier statements in which Jesse Pollak said “there are no plans for a Base network token.” Until now, the network has operated with ETH for fees and transactions, following the common model of layer 2 rollups.
Operational data indicates efficiency and technical capacity:
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Base processes approximately 12,000 TPS
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In June 2025, it generated $4.9 million in fee revenue, with Layer 1 costs around $50,000
These indicators could support the introduction of a token without disrupting operations, although tokenomics, governance mechanisms, and issuance schedule have not yet been disclosed.
The Base ecosystem spans speculative projects to institutional initiatives, including:
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Memecoins like Furfication ($Fur)
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Token launch platforms like Trendies
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Institutional deployment by JPMorgan Chase with JPMD, a regulated USD deposit token on Base
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Avantis airdrop, backed by Coinbase, serving as a precedent for the impact of distributions on DeFi dynamics
Potential Impacts and Mentioned Assets
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Furfication ($Fur): memecoin on Base
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JPMD: USD deposit token launched by JPMorgan Chase
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Avantis: previous Coinbase-backed airdrop
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Trendies: token launch platform
Implications
A native token could:
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Enable decentralized governance
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Create new incentive schemes for developers and validators
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Facilitate on-chain mechanisms such as voting, staking, or dynamic fees, aligning participation and network sustainability
Issuance must balance decentralization and regulatory compliance, given increasing scrutiny on tokens and airdrops. Governance and distribution design will be key to mitigating legal and operational risks.
For investors and product teams, tokenomics is the central question:
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Distribution of governance rights
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Anti-manipulation mechanisms
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Rewards for early users via airdrops
The lack of public details requires caution and preparation in KYC and legal analysis.
Base’s leadership has opened the discussion without publishing tokenomics or a timeline. The next milestone will be the release of concrete details on issuance and governance, which will determine whether the network adopts a more participatory model or continues to use ETH for its operations.
