Base Token's Airdrop Potential: What's on the Horizon?

Since the unveiling of Base, speculations have been rife within the cryptocurrency community about the possibility of an airdrop. This week, the rumors gained momentum when a senior Coinbase executive hinted at the prospect in an interview.

While it's crucial to temper our expectations, being prepared is half the battle. In this article, we delve into the likelihood of a Base token airdrop.

New Hope for a Base Token?

In a recent interview with Decrypt, Coinbase's Chief Legal Officer, Paul Grewal, responded to the frequently asked question, "Wen Base will token arrive?" with a twist. He noted that "a token could be viable at some point in the future" and further added that it was "not something [Coinbase has] ruled out entirely."

This response deviates from the previously held stance of "no plans to issue a token" by Coinbase's leadership. Notably, this statement, coming from the legal chief of the company, strengthens the widely held belief that regulatory uncertainties might be the primary obstacle to a token release. While predicting the actions of regulators, such as Gary Gensler, is challenging, Bankless has taken a proactive step by crafting an airdrop hunting guide for Base through our Airdrop Hunter product.

There are no guarantees that Coinbase will choose to launch a token, but our paying subscribers can explore the Quests we've formulated below to ensure they are well-prepared for any potential scenario.

The Guide to Base

Incubated within Coinbase, Base is an Ethereum Layer 2 (L2) solution with the ambitious goal of eventually accommodating millions of users. It aims to serve as the on-chain foundation for Coinbase's products, thanks to its low-cost and developer-friendly ecosystem.

To facilitate user adoption, the U.S. crypto exchange behemoth is committed to simplifying the onboarding process for Base. This includes seamless integration with its increasingly popular Coinbase Wallet app.

Base is constructed upon Optimism's OP Stack, a technology specifically designed to ensure smooth onboarding and interoperability among various optimistic-style rollups. Consequently, Base aligns itself with Optimism's vision of creating an interconnected mesh of Ethereum L2 solutions.

However, it's essential to acknowledge that Base is still a work in progress. While it has demonstrated promising early network activity, its fraud-proof system is yet to be fully implemented. As a result, the platform is not entirely decentralized, and users must place trust in the block proposer to submit accurate L1 state roots. The development team is actively addressing these issues, with the goal of establishing a more secure and decentralized infrastructure over time.

Conclusion

The Base token's potential airdrop is generating excitement within the cryptocurrency space. While the outcome remains uncertain, staying informed and prepared is key. Explore our Guide to Base, and keep a close eye on developments in this ever-evolving landscape.