Base Will Likely Have a Token: Why Now, Who Wins, and How Big It Gets - Ep. 904
Episode publishedPodcast: UnchainedUnchained
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Let's say BASE token came out today. Like, what would it trade at? I would I would probably conservatively think that it could probably come out at, like, 20,000,000,000. Think it could probably run to, like, 40 or 50. It will definitely renew more interest in these, especially when mind share across blockchains is, you know, it's a very hard thing to capture.
That does like open up questions of do coin shareholders get some kind of claim to it because there is, I believe, revenue numbers that are shared on the Coinbase balance sheet based off of the base sequencer. So you get into some, like, weird weird areas of understanding whether or not there is some sort of claim to to shareholders and they have, like, a fiduciary duty there. Have no idea, but that that's a a complicated angle.
Hi, everyone. Welcome to Unchained, your no hate resource for all things crypto. I'm your host, Laura Shin.
Mantle is pioneering blockchain for banking, a revolutionary new category at the intersection of TradFi and Web3.
Follow mantleofficial to learn more. Today's topic is the updates from Basecamp. They're exploring a token, which that, you know, sent shockwaves throughout the system, even though interestingly, I'm sure most people, if they had to bet money, they would have bet that that was gonna happen at some point. But here to discuss is Ryan Yee, most recently at Coinbase Ventures and prior to that CoinFund. And in a little bit, we'll also be joined by ICO Beast, merchant of narratives at Proof of Play. Welcome, Ryan.
Hey, Laura. Thanks for having me.
So at Basecamp today, Jesse Pollock said that Base has to become decentralized. And he also announced that they were exploring a base token for the first time. This is big news because for so long, they had said that they were not interested in doing that. It's even in the X bio. So what was your first reaction to hearing that they're exploring having a token?
Yeah, think it's a very exciting development. I think that naturally as Base has grown a lot, it's obviously grown without the use of a token or a Giga token, which kind of goes to show you how much sort of fundamental growth on the user side and builder side that Base has been able to attract without it. And, you know, obviously it sounds like the Base team now feels that for their next leg of growth, they have sort of a critical mass, at least of builders and liquidity on the chain that to kind of supercharge and to really compete at the largest levels, they're now exploring it hoping to be
Yeah. And for them being the first crypto company in the S and P 500, there's just a lot of regulatory things that they have on them that make it just something a bit more challenging. Mean, he kept emphasizing that they're going to do this in a regulatory compliant manner, that obviously the path for that has not been charted yet. I was curious, why do you think they're announcing that they're exploring doing a token rather than just launching one?
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