Coinbase’s
$4.25B
Layer-2 blockchain, Base, is facing criticism after a recent token experiment sparked a debate about who the network is really built for.
The discussion was triggered by Jesse Pollak, the lead behind Base, who defended its focus on creators and developers, rather than traders, after a one-day token minting event caused prices to spike and then collapse.
The event involved Base’s X post on April 17 being created into a tradable token using Zora, a minting protocol. The token briefly reached a market value of $16.9 million before quickly falling by 92%. This raised concerns that the campaign encouraged hype without considering market stability.
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Alon Cohen, co-founder of Pump.fun, stated in a post on X, “Traders are easily the most important user group in crypto”. Cohen added that without market demand, creative efforts cannot last, since creators need a strong trading base to support their work.
However, Pollak stated that the project’s main focus is supporting people who build things on the platform.
In a separate post on X, he also said that he appreciates traders but sees them as part of a larger system that depends on creativity. He added that his focus will remain on helping creators and developers succeed.
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Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
