Base officially announced Exploring a native networking day during the Basic Camp event on 15 September, which marks a potential milestone for the Ethereum Layer-2 network of Coinbase, because it focuses on global acceptance.
BASE founder Jesse Pollak delivered the announcement during his presentation at the event and outlines the vision of the network to scale tens of millions to billions of users worldwide.
Pollak positioned token exploration within three core principles: the achievement of full decentralization, coordinating builders and makers as economic participants and pushing the boundaries of crypto to unlock new systems.
He explained:
“The economy can only work if we shape it and benefit from it.”
Moreover, he explained the reasoning behind the alignment of the maker and developer through tokenization.
BASE currently operates as a phase one -role, consisting of a decentralized fraud or the submission system of the evidence and a security council.
However, it is not fully decentralized and requires extra work to achieve full decentralization in phase two. The potential token represents a mechanism to speed up this transition and at the same time stimulate the participation of ecosystem.
Brian Armstrong, co-founder and CEO of Coinbase, confirmed The development via X, which states that it can be “a great tool for accelerating decentralization and expanding the growth of the maker and developers in the ecosystem.”
Armstrong emphasized that there are no definitive plans, referring to the announcement as a philosophical update while the team is investigating opportunities.
Three important obligations
Pollak made three explicit obligations with regard to the development of token. The basis remains committed to building on Ethereum and rejecting speculation about alternative blockchain foundations.
Furthermore, the team promises to “do this right” by working together with supervisors and legislators, based on the 15-year compliance record of Coinbase.
Finally, BASE undertakes to transparent development and building “in the open” by community involvement and feedback.
The announcement follows Base’s decision to embrace transparency about secret development. Pollak recognized advice to keep exploration private, but opted for the “basic way” of open development without predetermined answers.
Basic plans to collect community input during the two-day Base Camp event to inform the development of token in accordance with the values of the network.
Pollak described the announcement as ‘a new day one’ opportunity to use tokenization for building a global economy.
The exploration phase starts without specific timelines or implementation data, because BASE will give priority to community consultation and compliance with regulations before the development of the token is promoted.
