5 Things to Know About Base, the New Layer 2 Chain From Coinbase

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The Base Mainnet is set to launch on August 9, sparking growing interest in Coinbase’s entry into the Ethereum Layer 2 (L2) space. Designed as a secure, low-cost, and developer-friendly blockchain, Base aims to onboard the next billion users to Web3. With Ethereum’s scalability challenges persisting, L2 solutions like Base are becoming increasingly vital. But what sets Base apart in a competitive ecosystem filled with rollups and sidechains? Below, we explore five defining aspects of Base that position it as a major player in the future of decentralized applications.

👉 Discover how Base is shaping the future of Ethereum scaling.

1. Built on the OP Stack for Seamless Ethereum Integration

Base leverages the OP Stack, an open-source, modular framework developed by the team behind Optimism. This strategic choice aligns Base with the broader Ethereum roadmap, which emphasizes a rollup-centric future. By using OP Stack, Base inherits battle-tested security and compatibility with existing Ethereum tooling, making it easier for developers to deploy and migrate dApps.

Although Base operates as an independent network from Optimism, the shared infrastructure ensures high interoperability between the two chains. This synergy supports the emerging vision of a "Superchain" — a network of interconnected, scalable L2s that function as a unified layer above Ethereum.

Collaboration between Base and OP Labs has been ongoing since early development stages. To reinforce this partnership, Base has committed to sharing its transaction fees with the Optimism Collective, a decentralized community funding public goods in the Ethereum ecosystem. This alignment not only strengthens network effects but also promotes long-term sustainability across the OP Stack ecosystem.

2. No Native Token: A Strategic Design Choice

Unlike many other Layer 2 blockchains, Base does not have its own native token, and there are no plans to introduce one. This decision reflects a deliberate effort to stay as close to Ethereum’s core principles as possible — minimizing complexity and avoiding speculative tokenomics that could distract from utility.

While other L2s often incentivize user adoption through token airdrops or staking rewards, Base relies on Coinbase’s brand strength and infrastructure to drive adoption. Since its mainnet launch, Base has already achieved a Total Value Locked (TVL) of over 61,000 ETH — roughly $112 million — much of which is believed to stem from Coinbase’s own liquidity provisioning.

This tokenless model reduces friction for developers and users alike. Without a governance or utility token, the focus remains on building real-world applications rather than navigating token incentives. It also lowers barriers for new users unfamiliar with managing multiple asset types.

👉 See how developers are building on Ethereum-compatible chains without token distractions.

3. Born from Coinbase, Built for Everyone

Although funded and initiated by Coinbase, Base is designed to evolve into an open, community-driven ecosystem. Initially, the chain will support various Coinbase products, such as custody solutions and trading interfaces, but its long-term vision extends far beyond internal use cases.

Similar to how BNB Chain grew from Binance’s infrastructure into a thriving independent ecosystem, Base aims to attract third-party developers, startups, and decentralized projects. With over $120 billion in assets held on Coinbase and millions of active users, the exchange provides a massive potential user base ready to transition into Web3.

To encourage ecosystem growth, the Base team has actively invited builders to join the network during its testnet phase. Projects ranging from DeFi protocols to NFT marketplaces are already exploring deployment on Base. This open-onboarding strategy underscores Base’s ambition to become a primary gateway for mainstream users entering decentralized applications.

4. A Clear Path Toward Decentralization

Critics have questioned whether a blockchain backed by a centralized entity like Coinbase can truly be decentralized. Currently, Coinbase operates the sole sequencer on the Base network — meaning it has exclusive control over transaction ordering and validation.

However, Base has published a transparent decentralization roadmap outlining steps to transition toward a more distributed governance model. The first phase involves forming a Security Council composed of key stakeholders to oversee critical network decisions. Over time, this will evolve into broader community governance mechanisms resembling Ethereum’s decentralized ethos.

This gradual approach balances security and stability during early growth while laying the foundation for long-term decentralization. By following a phased rollout, Base avoids the risks associated with premature decentralization while maintaining trust among developers and users.

5. Native Support for Account Abstraction

One of Base’s most innovative features is its built-in support for account abstraction (AA) — a major usability upgrade for Ethereum-based wallets. Traditionally, users interact with Ethereum via externally owned accounts (EOAs), which require manual management of private keys and gas fees.

Account abstraction changes this by allowing smart contract wallets to act on behalf of users. This enables features like:

To empower developers, Base launched with an Account Abstraction SDK co-developed by Gelato and Safe. This toolkit simplifies integration, enabling teams to implement advanced wallet functionalities without deep expertise in low-level Ethereum mechanics.

By embracing AA from day one, Base removes key friction points that have historically hindered mainstream adoption — making Web3 more accessible to non-technical users.

👉 Learn how account abstraction is transforming user experience in Web3.

Frequently Asked Questions (FAQ)

Q: Is Base its own blockchain or part of Ethereum?
A: Base is an Ethereum Layer 2 (L2) blockchain. It operates independently but inherits security from Ethereum through optimistic rollup technology, reducing costs while maintaining decentralization.

Q: Can I earn rewards by staking on Base?
A: No. Since Base does not have a native token, there are no staking or yield opportunities directly tied to the network itself. Rewards come from dApps built on top of Base.

Q: How does Base differ from Optimism?
A: Both use the OP Stack, but they are separate networks with different governance and funding models. Base is backed by Coinbase, while Optimism is governed by its decentralized collective.

Q: Do I need a special wallet to use Base?
A: No. Most Ethereum-compatible wallets (like MetaMask) support Base with simple network configuration. Some wallets even auto-detect it.

Q: What kinds of apps are available on Base?
A: The ecosystem includes DeFi platforms, NFT marketplaces, bridges, and social apps. As adoption grows, expect broader categories like gaming and identity services.

Q: Is Base truly decentralized today?
A: Not yet. While currently operated by Coinbase, Base has a clear roadmap toward decentralization involving sequencer diversification and community governance.

Core Keywords:

With strong technical foundations, strategic design choices, and backing from one of crypto’s most trusted brands, Base is poised to play a pivotal role in scaling Ethereum and expanding access to Web3. Whether you're a developer, investor, or newcomer, keeping an eye on Base’s evolution could offer valuable insights into the future of decentralized technology.