Coinbase's BASE Token Airdrop Prioritizes Shareholders

One of the most notable developments in the cryptocurrency market is the airdrop anticipation related to Coinbase's layer-2 network Base. This airdrop, which is eagerly awaited by the crypto community, seems to prioritize the interests of Coinbase shareholders rather than traditional rewards for users. AJC, a researcher at Messari, highlights that the purpose of this airdrop is to increase the value for shareholders, not users.

Recent posts about Base token on the X platform have heightened expectations that this new token's release is approaching. Jesse Pollak encouraged community participation by saying, “Share your thoughts and suggestions about Base token.” This situation also strengthens claims that BASE will be the first token issued by Coinbase, which is a publicly traded company.

AJC states that, unlike traditional token launches, Coinbase shareholders will only take steps to share Base token rights if they believe it will directly add value to the company. This suggests that the overall effectiveness of the airdrop will aim to provide financial benefits for shareholders rather than user satisfaction.

Moreover, AJC indicates that the design of this airdrop will emphasize social and consumer-focused activities instead of classic DeFi metrics. Behaviors such as using BaseApp, participating in creative token projects, and engaging with community-driven applications are mentioned as potentially providing sustainable value to both Coinbase shareholders and the Base ecosystem.

In summary, Coinbase's goal is to build a long-term user base instead of "mercenary capital" that comes with short-term incentives. Therefore, social interaction and user engagement will form the core components of the Base ecosystem. Investors should assess the potential impacts of the airdrop by considering these dynamics and act accordingly.