2026-01-12 00:25:17

There's a question worth discussing. Many people confuse Base's $BASE token with $BNB, but the two are actually quite different.

BNB's design is very clever—it serves as the platform token for a major exchange and also as the core token of the Binance Chain ecosystem. Killing two birds with one stone.

But Base is different. The main role of $BASE is to serve as the governance and ecosystem token for the Base L2 ecosystem, and it will not become the exchange token of the Coinbase platform. A major exchange and Base L2 are two separate tracks.

This difference is actually quite critical, as it directly affects the value capture models and ecosystem positioning of the two tokens. Understanding this is important for evaluating the Base ecosystem and the $BASE token.

BNB1,73%

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ser_aped.eth

· 01-12 09:59

Huh, finally someone explained this clearly. I saw a bunch of people comparing BNB to BASE, and I was totally confused. The fact that they are separate tracks is indeed easy to overlook. BNB's approach can't be simply copied by BASE; the differences are quite significant.

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just_here_for_vibes

· 01-12 00:55

To be honest, BASE copying BNB's approach is already doomed to fail; Coinbase has no intention of making it a platform token. It seems the crypto world always loves to use BNB as a template, but it just doesn't fit. BASE is just a governance token; what kind of imagination space does it have? Honestly, it's a split between two tracks; BASE is just a castrated version of BNB, which is pointless. Wait, if BASE really doesn't touch exchange business, then what is its value support?

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SandwichTrader

· 01-12 00:55

Uh... so BASE is purely an ecosystem token, with no exchange-based support?

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FlashLoanLord

· 01-12 00:54

So BASE is just a pure ecosystem thing, can't earn passive income from exchange dividends, right?

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CryptoWorldSnacks

· 01-12 00:52

The problem is that BNB is too expensive. If $base is issued, there might be an arbitrage effect.

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RugDocDetective

· 01-12 00:42

To be honest, BNB's dual-track system is really impressive, but separating them on BASE actually makes it clearer? No need to always be under the shadow of platform tokens.

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ResearchChadButBroke

· 01-12 00:25

We won't see Coinbase giving special treatment to the BASE token, that's the difference. The BNB-style approach doesn't work on Coinbase.

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