Coinbase's Layer 2 project, Base, is considering issuing a token, a shift from its previous stance of not planning to do so. Ryan Ye, a former Coinbase Ventures member, predicts the Base token's initial market capitalization could be around $20 billion, potentially rising to $40-$50 billion. Ye suggests the token could function similarly to Ethereum's ETH, being used for on-chain fee burning and as a core liquidity asset in DeFi. Ye speculates that the token distribution might allocate 20%-40% to Coinbase, about 20% to an independent community treasury, with the rest distributed to the community through airdrops or public sales. Additionally, Base has integrated with Solana on its testnet, indicating its recognition of Solana as a major competitor. The competition between Base and Solana is expected to focus on user culture and DeFi liquidity, with Base emphasizing DeFi liquidity and Solana excelling in user experience.
Base Token Could Debut with $20 Billion Market Cap, Says Former Coinbase Ventures Member
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