Base has already become one of the most active layer-2 networks, surpassing 10 million daily transactions and more than $5.1 billion in TVL, according to data from DeFiLama . At the same time, rollups like Ink, incubated by Coinbase’s competitor crypto exchange Kraken, have announced their own utility tokens , placing competitive pressure on Base to formalize its tokenomics. Coinbase can seize the unique opportunity to launch a token that is differentiated from competitors. A governance-plus-cash-flow model ...