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Coinbase CEO Brian Armstrong has announced that there will not be a Base token for the Ethereum Layer-2 network, Base. This decision reflects a shift in focus towards development rather than monetization in the cryptocurrency industry. Armstrong’s statement contradicts previous speculation about the possibility of a token tied to the network. Coinbase’s vision is to create an inclusive and interoperable crypto ecosystem. The launch of Base on the Optimism stack on Ethereum has been successful, with the network quickly becoming the third-largest Layer-2 network in terms of total value locked (TVL). However, as of December 1, Base’s TVL has decreased to just under $300 million, despite leading protocols experiencing monthly gains.Armstrong’s decision to forgo a Base token is driven by a desire to prioritize the network’s technological advancement and widespread adoption. Coinbase sees Base as a contribution to the growth of the crypto community, rather than a revenue-generating venture. By not having a native token, Base aims to significantly reduce Ethereum transaction costs, making cryptocurrency more scalable and user-friendly as adoption increases.Coinbase’s CEO emphasizes the importance of Base being more than just a company project. The goal is to create a network that is interoperable with the rest of the crypto community, highlighting a commitment to collaboration and integration within the broader ecosystem. This approach, along with Coinbase’s support, aims to provide stability and trust to Base users. Armstrong’s decision sets a precedent for future developments in the industry, emphasizing the importance of prioritizing building over profit. It is also possible that this decision is connected to Coinbase’s efforts to avoid regulatory issues.