Will Coinbase launch a native coin/token for Base?

[Abiky]

As the title says, do you think Coinbase will launch its own coin/token for the Base network? If not, why? Considering that Coinbase is one of the world's largest crypto exchanges, it could directly compete with Binance's own Blockchain network dubbed "Binance Chain" (with BNB as its native token). The momentum is building for the Base chain, especially when it has the backing of the Optimism Foundation. If Coinbase doesn't launch its own token, it could lose the ability to collect fees from the network and profit from it. Maybe the reason for this is because they're afraid that the SEC might accuse them of launching an "unregistered security"? It would be nice to have an airdrop where early adopters of the platform get rewarded for testing it.

What are your thoughts? Your input will be greatly appreciated. Thanks.

[1714290810]

1714290810

[Blitzboy]

Launching a native coin is never easy in the crypto industry. I have considered Coinbase launching a Base network coin. It makes sense given the Base chain's recent momentum. With the Optimism Foundation's support, competing with Binance Chain might change the game.

I sense your envy for devoted early adopters who get rewarded. Due to the SEC's strictness, the regulatory environment is risky. Coinbase would need to tread carefully to avoid legal issues. Releasing a "unregistered security" token could be disastrous. As a giant, Coinbase will analyze the pros and cons before taking action.

[sesterceshop]

I don't see Coinbase launching its own token for Base network anytime soon. Regulatory issues with the SEC could be a major concern, potentially risking their reputation and business. Plus, competing with Binance, a powerhouse in the crypto world, might not be their priority. It seems like they'd rather focus on their main services - creating a secure and user-friendly platform for crypto transactions. They might explore ways to incorporate Base network into their current products or offer incentives to users. While an airdrop would be cool, I don't think Coinbase is going in that direction for now.

[Apocollapse]

Sooner or later every centralized exchange will create their own native coin because their main purpose are profit oriented and it's not hard to create centralized coin. Coinbase is making a lot money, hiring few developers will not cause any problem.

Any businessman will try any way to make more money and make them more popular.

[Husires]

I do not think that regulatory restrictions in the United States are different from binance, which is trying to be multinationals, the launch of a decentralized network is a big problem for those who want to move away from unregistered security.

Getting free and profitable Airdop has become more difficult and needs to search for a blockchain far from the limelight and not known services as Coinbase.

[dbshck]

As the title says, do you think Coinbase will launch its own coin/token for the Base network? If not, why? Considering that Coinbase is one of the world's largest crypto exchanges, it could directly compete with Binance's own Blockchain network dubbed "Binance Chain" (with BNB as its native token). The momentum is building for the Base chain, especially when it has the backing of the Optimism Foundation. If Coinbase doesn't launch its own token, it could lose the ability to collect fees from the network and profit from it. Maybe the reason for this is because they're afraid that the SEC might accuse them of launching an "unregistered security"? It would be nice to have an airdrop where early adopters of the platform get rewarded for testing it.

What are your thoughts? Your input will be greatly appreciated. Thanks.

The FAQ in the Base launch blog post states that they currently do not have plans to issue a new token.

Does Coinbase have future plans for a native token on Base?
We currently do not plan to issue a new network token. ETH will be our native gas token. Be aware that scammers may send fake Base tokens. Avoid interacting with them.

However, it's worth noting that some major L2 chains, e.g. Arbitrum, initially had no intentions of launching a token, but we all witnessed how that turned out. Additionally, they mention a plan to "progressively decentralize the chain over time," a phrase often associated with the creation of chain governance powered by its native token. Given these hints, I'm slightly inclined to believe that we might see a $BASE token in the future.

[zasad@]

As the title says, do you think Coinbase will launch its own coin/token for the Base network? If not, why? Considering that Coinbase is one of the world's largest crypto exchanges, it could directly compete with Binance's own Blockchain network dubbed "Binance Chain" (with BNB as its native token). The momentum is building for the Base chain, especially when it has the backing of the Optimism Foundation. If Coinbase doesn't launch its own token, it could lose the ability to collect fees from the network and profit from it. Maybe the reason for this is because they're afraid that the SEC might accuse them of launching an "unregistered security"? It would be nice to have an airdrop where early adopters of the platform get rewarded for testing it.

What are your thoughts? Your input will be greatly appreciated. Thanks.

It seems that Coinbase does not plan to release its token in the Base ecosystem, because the exchange already has many problems with regulators.
They talked about it openly, but the situation is changing, and if this is useful, then perhaps they will change their minds and do everything in accordance with the law that should appear. And now the exchange is in first place in the USA, after Binance started having problems and other exchanges left the country.

[MAAManda]

However, it's worth noting that some major L2 chains, e.g. Arbitrum, initially had no intentions of launching a token, but we all witnessed how that turned out. Additionally, they mention a plan to "progressively decentralize the chain over time," a phrase often associated with the creation of chain governance powered by its native token. Given these hints, I'm slightly inclined to believe that we might see a $BASE token in the future.

I totally agree with your opinion that we'll most likely see a $BASE token sometime in the future, for now it just needs more trust from the Coinbase team to release their token, I don't think there will be any hard hurdles on the regulatory or ecosystem side, because for their own ecosystem they already have a large ecosystem in the Base network. But when I read the article released by BSC News, I was a little doubtful that they will release their original token because they only aim to simplify the connection.

[Abiky]

Launching a native coin is never easy in the crypto industry. I have considered Coinbase launching a Base network coin. It makes sense given the Base chain's recent momentum. With the Optimism Foundation's support, competing with Binance Chain might change the game.

I sense your envy for devoted early adopters who get rewarded. Due to the SEC's strictness, the regulatory environment is risky. Coinbase would need to tread carefully to avoid legal issues. Releasing a "unregistered security" token could be disastrous. As a giant, Coinbase will analyze the pros and cons before taking action.

If Coinbase is aiming for "decentralized governance", then it would have no choice but to create its own cryptocurrency/token. The company doesn't need to launch an airdrop to make the token a huge success. I know there are "airdrop hunters" hoping to dump the token for a profit. You can bet tensions between the SEC and Coinbase will escalate once the Base network has a native token.

Ultimately, time will tell us whenever Coinbase will do this or not. Who knows if someday Base will directly compete with Binance Chain? Just my thoughts

[X-ray]

Base network is one of product owned by coinbase as its parent company. How can we expect coinbase to launch tokenization for its network if its parent company has its own stock that already traded on nasdaq?
Even coinbase insiders were always dumping his shares to the market. That means if coinbase will be facing a legal suit against its parent company if it would be issuing security token like base network.

Base is built to be the onchain home for Coinbase products, users, and assets, as well as an open ecosystem where anyone can build for them. Leverage Coinbase’s developer tools to make building easy and reach Coinbase users.

https://base.org/

I don't even think coinbase is willing to put its parent company into the big risk. Look at the main purpose of base.

[rhomelmabini]

As the title says, do you think Coinbase will launch its own coin/token for the Base network? If not, why? Considering that Coinbase is one of the world's largest crypto exchanges, it could directly compete with Binance's own Blockchain network dubbed "Binance Chain" (with BNB as its native token). The momentum is building for the Base chain, especially when it has the backing of the Optimism Foundation. If Coinbase doesn't launch its own token, it could lose the ability to collect fees from the network and profit from it. Maybe the reason for this is because they're afraid that the SEC might accuse them of launching an "unregistered security"? It would be nice to have an airdrop where early adopters of the platform get rewarded for testing it.

What are your thoughts? Your input will be greatly appreciated. Thanks.

I think they'll launch an airdrop those who are early but they just kept denying it considering it will be just another easy farm from those who want to exploit it. I don't think they're afraid of SEC but it would really be a risky bet if they will be on the hot seat again because of it. They're on the eye of SEC so I think they're being cautious on what they'll do.

[Bitstar_coin]

Most airdrop farmers are hoping this will happen, and lately, base onchain summer activities pointing toward the likelihood of a native in the near future. However, base is owned by coinbase which is located in the usa where sec regulations is high, and they have in one of their galxe task pointed out that there will not be any base token, although some other projects also said the same and eventually had their tokens so I guess we will just have to wait and see what the outcome of these onchain activities will be.

[Husires]

Ultimately, time will tell us whenever Coinbase will do this or not. Who knows if someday Base will directly compete with Binance Chain? Just my thoughts

BSC from the beginning, it appeared as a competitor for the Ethereum block and tried to provide the cheaper fees and faster transactions. Consequently, if the ethereum excels in the low fees, it will turn into a dead block, so there is no benefit from Coinbase from the creation of its own network. The competition fields can be in stable currencies and NFT

[jrrsparkles]

As the title says, do you think Coinbase will launch its own coin/token for the Base network? If not, why? Considering that Coinbase is one of the world's largest crypto exchanges, it could directly compete with Binance's own Blockchain network dubbed "Binance Chain" (with BNB as its native token). The momentum is building for the Base chain, especially when it has the backing of the Optimism Foundation. If Coinbase doesn't launch its own token, it could lose the ability to collect fees from the network and profit from it. Maybe the reason for this is because they're afraid that the SEC might accuse them of launching an "unregistered security"? It would be nice to have an airdrop where early adopters of the platform get rewarded for testing it.

What are your thoughts? Your input will be greatly appreciated. Thanks.

I guess they are working on it but they may take more time to launch their own coin because on numbers Coinbase is one of the biggest exchanges but they are still not in a comparable level with Binance which can be the actual reason for the delay or they don't really want to follow the footprints of other exchanges and working on a different strategy to make a profit and stick with the exchange alone.

The actual problem is that Binance is not based in the US whereas coinbase US based company where there is regulations are strict and complex so they don't want to exhaust their resource until there is room for the actual need.

[blockman]

IMHO, there's a chance. And it's been long overdue since they should have made that one from other chains and they're seeing the success from other companies that they're competing. Now that the US government has been strict with these protocols in relation to what the US SEC has been doing with Binance. There's a possibility that Coinbase will take advantage of it since they're based in the US. Maybe it's just a matter of time until we see. But if they won't do that, that's totally fine because they could see something better beyond that.

The actual problem is that Binance is not based in the US whereas coinbase US based company where there is regulations are strict and complex so they don't want to exhaust their resource until there is room for the actual need.

That's what I am saying, it's like their own native company based on the US against Binance.

[Huppercase]

As the title says, do you think Coinbase will launch its own coin/token for the Base network? If not, why? Considering that Coinbase is one of the world's largest crypto exchanges, it could directly compete with Binance's own Blockchain network dubbed "Binance Chain" (with BNB as its native token). The momentum is building for the Base chain, especially when it has the backing of the Optimism Foundation. If Coinbase doesn't launch its own token, it could lose the ability to collect fees from the network and profit from it. Maybe the reason for this is because they're afraid that the SEC might accuse them of launching an "unregistered security"? It would be nice to have an airdrop where early adopters of the platform get rewarded for testing it.

What are your thoughts? Your input will be greatly appreciated. Thanks.

I have missed feelings about basechain plans and how they quick to rush and announced that they are launching a typical chain without token but we all know that Coinbase alone cannot be a validator and the nodes and they Can't afford to pay the independent nodes and validators in another payment if they really want to keep the blockchain decentralized as possible. That said.

There have been increased in lots of activities on their base chain recently, which means people are using the chain and testing it to strain it to some levels. If those values are true, then there is something people knows privately that the rest of the public don't know. It possible that people are giving it shot for potential Airdrop because that's what has been happening over the new blochains that are been launched over some months now, it's possible that a coin will be launch or people who are using the chain are probably speculating one to be later launch in the future.

What I think about the chain from beginning is Coinbase want their chain to be clean and free from spam transactions, early testers are known for spammy transactions to get lots of shares when it comes to Airdrop, hence the reason why they say to the public of no coins. A company like Coinbase launching a blockchain will attract lots of attention and I say it's a good strategy to make it clean from the beginning. With time, they will launch their own coin or may be during the next bull run.

[Abiky]

Base network is one of product owned by coinbase as its parent company. How can we expect coinbase to launch tokenization for its network if its parent company has its own stock that already traded on nasdaq?
Even coinbase insiders were always dumping his shares to the market. That means if coinbase will be facing a legal suit against its parent company if it would be issuing security token like base network.

I don't even think coinbase is willing to put its parent company into the big risk. Look at the main purpose of base.

True. But Coinbase might decide to create a separate organization (like a DAO) that would manage the token itself. This would take the SEC "off its tail". At least, that's what I think the company will do. For what I know, there are a lot of airdrop hunters waiting to "dump" the new token for good. If Coinbase decides to launch a native token for the Base network, it might decide to "skip" the airdrop altogether. That will preserve the token's value over the long term.

Whatever Coinbase decides to do with Base, you can rest assured it won't give up without a good fight. SEC Chairman Gary Gensler has his days numbered, as pressure mounts from crypto industry players. Without him, the Base network won't have any obstacles from achieving its intended purpose. Who knows if it surpasses BSC in terms of network activity sometime in the future? Just my opinion

[tvplus006]

...Maybe the reason for this is because they're afraid that the SEC might accuse them of launching an "unregistered security"? It would be nice to have an airdrop where early adopters of the platform get rewarded for testing it.

Yes, it would be logical to distribute new coin among early users and thus avoid a lot of charges from the SEC. But Coinbase has repeatedly repeated that there will be no new token, or do you think that she specifically talked about it so as not to attract excessive attention from Sybil.

[$crypto$]

...Maybe the reason for this is because they're afraid that the SEC might accuse them of launching an "unregistered security"? It would be nice to have an airdrop where early adopters of the platform get rewarded for testing it.

Yes, it would be logical to distribute new coin among early users and thus avoid a lot of charges from the SEC. But Coinbase has repeatedly repeated that there will be no new token, or do you think that she specifically talked about it so as not to attract excessive attention from Sybil.

They are currently saying no... but it could happen in the future by releasing their own tokens if on the other hand they will be afraid of the SEC being a threat, whatever it is if they make it through it could happen? I guess no one ever knows.

Airdrop chasers overestimated the initial testing and they must have a different outlook like Arbitrum which was not going to have tokens but surprisingly they released tokens a while ago and early adopters got a piece of the action, that's what they expected of course sybil users must be a lot.

[tvplus006]

...Airdrop chasers overestimated the initial testing and they must have a different outlook like Arbitrum which was not going to have tokens but surprisingly they released tokens a while ago and early adopters got a piece of the action, that's what they expected of course sybil users must be a lot.

Nevertheless, the airdrop from Arbitrum had to wait 2 years after the main network was launched. How long it will take before the native token of the Base network is launched, we can only guess. Besides, there is no guarantee that it will ever happen at all.