Base
Base is an Ethereum layer-2 network built by Coinbase on Optimism's OP Stack, and one of the main memecoin venues outside Solana.[1][2]
History[edit]
Coinbase unveiled Base as a testnet at ETHDenver on 23 February 2023; Jesse Pollak said it would have no token because "These networks don't need tokens to be successful."[1] It opened to developers on 13 July 2023 and to the public on 9 August 2023 with more than 100 apps, alongside an "Onchain Summer" campaign.[2][3] On 15 September 2025 Pollak said Base was exploring a network token, reversing the earlier stance.[4]
Memecoins[edit]
BALD
Before the public launch, BALD, a coin apparently named after Coinbase chief executive Brian Armstrong, rose more than 20,000-fold in a day and drove about 40% of Base's daily exchange volume. On 31 July 2023 its developer removed about 6,800 ETH (about $12.5 million) from its pool on LeetSwap and the price fell up to 90%, an episode widely described as a rug pull.[3]
Brett
Brett, based on a character from Matt Furie's Boy's Club comic (the source of Pepe), became the first Base memecoin to pass a $1 billion market value, late on 2 June 2024, according to CoinGecko data cited by Decrypt.[5]
Content coins
Zora, founded in 2020 as an NFT platform, pivoted to memecoins in late February 2025 and turns posts on Base into tradable coins.[6] On 16 April 2025 Base's social account posted a "Base is for everyone" image on Zora; the linked coin rose above $14 million in market value, fell to about $1 million, and drew pump-and-dump accusations. Coinbase said Base "will never sell these tokens" and that they were not official tokens.[6] In July 2025 Coinbase's wallet was relaunched as the Base App with content coins built on Zora and Farcaster; daily coins made through Zora doubled to more than 10,000 and the ZORA token rose over 60% in four days.[7]
Timeline[edit]
- 2023-02-23: Base testnet announced, with no token planned[1]
- 2023-07-13: mainnet opens to developers[3]
- 2023-07-31: BALD developer pulls liquidity[3]
- 2023-08-09: public mainnet launch and Onchain Summer[2]
- 2024-06-02: Brett passes $1 billion market value[5]
- 2025-04-16: "Base is for everyone" content coin posted on Zora[6]
- 2025-07-21: The Block reports Zora surge after the Base App launch[7]
- 2025-09-15: Pollak says Base is exploring a token[4]
See also[edit]
References[edit]
- ^ Coinbase unveils its Ethereum Layer 2 network that won't have a token, The Block, 2023-02-23
- ^ Coinbase's Base mainnet officially opens to the general public, The Block, 2023-08-09
- ^ Bald memecoin whipsaws in wild trading session as developer pulls liquidity, The Block, 2023-07-31
- ^ Base Explores Issuing Native Token, Says Creator Jesse Pollak, CoinDesk, 2025-09-15
- ^ Pepe, BONK, Floki and Shiba Inu Post Losses—But Based Brett Is Rising, Decrypt, 2024-06-04
- ^ Coinbase in hot water over $12 million 'content coin'—but exec tells haters to lean in, Fortune, 2025-04-19
- ^ Zora token rallies after Base App integrates its content tokenization tech, The Block, 2025-07-21