RT BSCN (@BSCNews)🚨 @BASE EXPLORING A NATIVE TOKENJesse Pollak says a token could drive decentralization and community alignment. Full story ⬇️https://t.co/wCq1eodiJE ...

Core Insights - Coinbase's Layer 2 solution, Base, is officially exploring the launch of a network token, as announced by Jesse Pollak at BaseCamp [2][6] - The company aims to engage with U.S. regulators during the token development process, emphasizing transparency [2][6] - Base has demonstrated significant usage metrics, which could position its token favorably in the market upon launch [2][6] Usage Metrics - Base currently has approximately 13 million daily transactions [6] - There are around 865,000 active addresses on the Base network [6] - Total Value Locked (TVL) in Base is about $5 billion, with a 24-hour decentralized exchange (DEX) volume of approximately $1.28 billion [6][7] Market Comparisons - Base's TVL of ~$5 billion and DEX volume of ~$1.28 billion positions it competitively against other Layer 2 solutions [7] - For comparison, Arbitrum has a TVL of ~$3.45 billion and a 24-hour DEX volume of ~$521 million, while Optimism has a TVL of ~$2.27 billion and a DEX volume of ~$29 million [7] - BNB Chain, with a fully diluted valuation (fdv) of $128 billion, has a DEX volume of ~$2.48 billion [7]

RT BSCN (@BSCNews)🚨 @BASE EXPLORING A NATIVE TOKENJesse Pollak says a token could drive decentralization and community alignment. Full story ⬇️https://t.co/wCq1eodiJE ...

Core Viewpoint - The payment solutions for Web3 projects are centered around decentralization, trustlessness, and native asset circulation, leveraging blockchain technology for direct value transfer between users while ensuring transaction transparency and security through smart contracts [1]. Comparison Dimensions - Traditional payments rely on centralized institutions (e.g., banks, payment gateways) as intermediaries, requiring user authorization for fund processing, while Web3 payments utilize blockchain consensus mechanisms (e.g., PoW/PoS) for transaction validation without intermediaries [3]. - Traditional payments involve fiat currencies or platform equivalents, whereas Web3 payments utilize cryptocurrencies (e.g., ETH, USDT, native tokens) [3]. - Settlement in traditional payments can take T+1 to T+3 days with potential cross-border fees (1%-3%), while Web3 payments offer real-time settlement post-block confirmation, typically within minutes, with fees determined by the blockchain (e.g., Ethereum gas fees) [3]. - Traditional payment systems require bank card binding and real-name authentication (KYC), resulting in lower privacy, while Web3 allows interaction through wallet addresses without real-name requirements, although some scenarios may still require compliance with KYC [3]. - Traditional payments have fixed payment logic, while Web3 enables programmable payments through smart contracts for conditional payments, profit sharing, and automatic refunds [3]. Payment Mechanisms - Users can pay directly with supported cryptocurrencies (e.g., ETH, BTC, SOL) through blockchain wallets (e.g., MetaMask, Trust Wallet), with transaction records stored on-chain, ensuring complete decentralization [4]. - Stablecoins (e.g., USDT, USDC) pegged to fiat currencies are used as payment mediums, suitable for e-commerce and subscription services where price stability is essential [5]. - Users can directly purchase cryptocurrencies (e.g., USDT, ETH) with fiat currencies (e.g., USD, EUR) through compliant fiat exchange services, addressing the "lack of cryptocurrency" issue for users [6]. - Smart contracts can define payment rules (e.g., "automatic rewards upon task completion," "automatic deductions upon subscription expiration"), enabling automated processes without human intervention [7]. Key Considerations - Web3 payment solutions focus on blockchain-native assets (cryptocurrencies/stablecoins) for direct value transfer from users to projects, with developers needing to select appropriate payment mediums based on project types (e.g., NFT trading, DeFi services, Web3 games) [8]. - User experience (ease of wallet connection), compliance requirements (KYC/AML), and security measures (contract audits) are critical factors for developers [8]. - For scenarios with a high proportion of novice users, integrating fiat on-ramp solutions (e.g., MoonPay) can lower entry barriers, while high-value transactions necessitate enhanced smart contract audits and risk controls [8]. - The ultimate goal is to establish a trustless, efficient, and globally accessible payment ecosystem [8]. Asset Types - Main chain currencies include Ethereum (ETH), Bitcoin (BTC), Solana (SOL), and Polygon (MATIC), used for paying on-chain interaction fees (e.g., gas fees) or as universal transaction mediums [9]. - Stablecoins are cryptocurrencies pegged to fiat currencies (e.g., USDT, USDC, DAI), providing relative price stability (1 USDT ≈ 1 USD) to mitigate price volatility risks in transactions [9]. - Project native tokens are exclusive tokens issued by Web3 projects (e.g., Uniswap's UNI, Axie Infinity's AXS), used for ecosystem incentives (e.g., transaction fee discounts, governance voting) [9]. Payment Integration - Wallet connections can be established using libraries like Web3.js, Ethers.js (Ethereum ecosystem), or Solana Web3.js, allowing user authorization and transaction signing [9]. - Key points include handling gas fees (typically paid by users in the payment currency) and monitoring transaction confirmation status through TxHash [9]. - Decentralized finance (DeFi) platforms can facilitate low-cost, real-time cross-border transfers, replacing traditional SWIFT remittances [9]. Compliance and Security - Anti-money laundering (AML) and KYC regulations may require Web3 projects to verify user identities for large transactions (e.g., over $10,000) or high-risk users [9]. - Tax implications may arise from cryptocurrency transactions, necessitating user self-reporting of capital gains [9]. - Security risks include loss or theft of private keys, vulnerabilities in smart contracts, and potential scams through phishing websites [9].

🚨 @BASE EXPLORING A NATIVE TOKENJesse Pollak says a token could drive decentralization and community alignment. Full story ⬇️https://t.co/wCq1eodiJE ...

Core Insights - Blockchain Base is in the early stages of exploring the issuance of a network token to support its vision of a global on-chain economy [2][3] - The company has not previously considered a network token but is now reevaluating its philosophy due to the expansion of its blockchain and ecosystem [2][5] - The potential network token could accelerate decentralization and expand opportunities for builders and creators within the Base ecosystem [3][5] Company Developments - Coinbase opened the Base blockchain to the public in August 2023 after a six-month testing phase [3] - Base is designed to be low cost, user-friendly, developer-focused, decentralized, and integrated with Ethereum [4] - The Base Chain now supports real-time settlement of stablecoin payments, indicating its growing functionality [4] Market Context - With an increase in USDC volume and the scaling of Base Chain, Coinbase is pushing towards a vision of crypto as a fundamental component of modern finance [5] - The exploration of a network token aligns with the company's goal of enhancing decentralization and fostering growth among creators and developers [5][6]

Layer 2 (L2) Strategy & Alignment - L2 solutions are not inherently pro-Ethereum and may pivot to become Layer 1 (L1) chains in the future, potentially including Base [1] - L2 chains whose structural advantage is not derived from avoiding being an L1 are more likely to remain aligned with Ethereum's core ideology of decentralization [1] Ethereum's Core Principles - Ethereum must prioritize credible neutrality, censorship resistance, and liveness over performance to maintain its privileged positioning [2] - Preserving these core properties will allow ETH to have privileged positioning in the best execution environments [2] Layer 1 (L1) Competition - Solana is a dominating L1, alongside Ethereum, with potential future competition from Monad [2]

There is no one that hates real products with real PMF and a real shot at growing the crypto-pie than antisocial CT schizophrenics.We're well beyond the age of fairy tales and believing that no-regs/no-rules/full-decentralization is even a remote possibility if we actually want normal people to use this stuff.I once was a decentralization maxi myself. I also saw it as a binary then instead of a sliding scale.I've come to accept that real use cases for crypto are going to fall somewhere along that scale rath ...

AI Development - Ethereum Foundation launches "dAI" team to develop decentralized AI systems within crypto [1] - Initial focus is on proposals like ERC-8004, creating a standard for AI agents to transact with each other across Ethereum [1] Vision - The industry aims to ensure the future of AI is not controlled by a few powerful corporations [1]

This was confirmed by both Base official X and Coinbase CEO Brian Armstrong. https://t.co/Q3gfZKAkREBrian Armstrong (@brian_armstrong):We’re exploring a Base network token.It could be a great tool for accelerating decentralization and expanding creator and developer growth in the ecosystem.To be clear, there are no definitive plans. We’re just updating our philosophy. As of now, we’re exploring it. ...