Editing 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
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
### 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|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|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
- 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
- [[Hyperliquid]]

## References
1. [Coinbase unveils its Ethereum Layer 2 network that won't have a token](https://www.theblock.co/post/214183/coinbase-unveils-layer-2-network-and-developer-fund), The Block, 2023-02-23
2. [Coinbase's Base mainnet officially opens to the general public](https://www.theblock.co/post/243899/base-mainnet-onchain-summer), The Block, 2023-08-09
3. [Bald memecoin whipsaws in wild trading session as developer pulls liquidity](https://www.theblock.co/post/242225/bald-memecoin-developer-liquidity-pull), The Block, 2023-07-31
4. [Base Explores Issuing Native Token, Says Creator Jesse Pollak](https://coindesk.com/business/2025/09/15/base-explores-issuing-native-token-says-creator-jesse-pollak), CoinDesk, 2025-09-15
5. [Pepe, BONK, Floki and Shiba Inu Post Losses—But Based Brett Is Rising](https://decrypt.co/233673/pepe-bonk-floki-and-shiba-inu-post-losses-but-based-brett-is-rising), Decrypt, 2024-06-04
6. [Coinbase in hot water over $12 million 'content coin'—but exec tells haters to lean in](https://fortune.com/crypto/2025/04/19/coinbase-zora-base-content-coin-jesse-pollak), Fortune, 2025-04-19
7. [Zora token rallies after Base App integrates its content tokenization tech](https://www.theblock.co/news/business/2025-07-21-zora-token-base-app-363518), The Block, 2025-07-21