Coinbase Layer-2 Base readies for mainnet launch with no plans for network token

• Coinbase’s layer-2 network, Base, is gearing up for its widely anticipated mainnet launch.
• It recently disclosed criteria for its mainnet launch, scheduling debut after Optimism’s Bedrock upgrade. 
• The network has attracted several builders from gaming, NFTs, and DeFi verticals since testnet.  
• There are no plans to issue a network token for now, L2 network has confirmed.

Coinbase’s Layer-2 (L2) network, Base, is preparing for the much hyped mainnet launch, after the team disclosed the “Path to Mainnet” roadmap on May 24.

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Coinbase L2 Base gears up for mainnet launch

Coinbase’s L2 network, Base, is on course with the release of its mainnet after providing insight into the network’s progress and upcoming milestones ahead of the official debut. Further, the US-based exchange also detailed several goals that must be fulfilled prior to unleashing the mainnet of its L2 solution later in the year.

As stated in an official Base blog, the network will prioritize safety and security in the days leading to the launch. As the countdown leading to the mainnet debut continues, some of the core milestones set by the network include:

• Proof of testament stability
• Successful upgrade of Optimism’s Bedrock
• Full-blown reviews and audits

Among the milestones already covered, include:

• Regolith hardfork in testnet
• Infrastructure review with Optimism’s team ahead of the Bedrock upgrade

Nevertheless, increasing economic freedom and opportunity on a global scale remains the goal. To this end, the network will bring in “the next million developers and billion users into the crypto economy.”

No plans to issue a network token

Contrary to what the crypto economy hoped for, Base has articulated that there will not be any network token. An excerpt from the declaration reads:

Following Mainnet Genesis begins our Genesis Window — a focused, coordinated window for developers to deploy Dapps on Base mainnet. During this window, we will be exclusively focusing on developers and providing support to ensure they are successful.

It is worth mentioning that Coinbase’s L2, Base, had garnered massive interest from the developer community as well as from projects from different spaces. Among them, are gaming, non-fungible tokens (NFTs), infrastructure, developer tooling, wallets, security, DeFi, oracles, analytics, bridging, payments, decentralized autonomous organizations (DAO), and social.

Some of the most exciting builders on Base include Blackbird, Parallel, Thirdweb, and OAK, with the team behind the L2 network also unleashing a “Path to Base Mainnet NFT” where users can mint to memorialize this milestone. 

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