Original author: KarenZ, Foresight News
Speculation about Base's airdrop is heating up again.
On one hand, the official Base blog has listed the native token standard as part of its upcoming upgrade plan; on the other, the open-source repository has rapidly merged the B20Factory, PolicyRegistry, and Beryl test modules within days. Coupled with Base’s mysterious teaser video released on May 25, which featured only the caption “...,” the market naturally connects these clues to one question: Is Base preparing for a network token and airdrop?
As of May 26, 2026, Base has not yet disclosed its tokenomics, snapshot rules, or airdrop schedule. It is confirmed that Base’s token infrastructure is entering a more defined engineering phase, and market expectations for its token launch are rising accordingly.
The official roadmap includes "protocol-native token standards."
Base has previously made public statements regarding network tokens. In September 2025, Jesse Pollak, head of the Base network, stated that the team was exploring a network token.
More than a month later, during the Q&A session of the third-quarter earnings call, Coinbase co-founder and CEO Brian Armstrong said, “We are still in the early stages of exploring a Base network token. We will not disclose any details regarding governance, distribution models, or specific timelines at this time, and will continue to advance the discussion in an open manner.”
New clues come from an official blog post introducing the Base Azul upgrade. In the upcoming plans section, Base lists "establishing a token standard" as part of its next performance-focused upgrade, scheduled for late June.
"Establishing a token standard" can be understood as a token standard built into the protocol. While this statement still falls short of saying "Base will issue its own token," it clearly indicates that Base is integrating token issuance capabilities into its protocol roadmap. For a network that has previously discussed a network token, this is sufficient to prompt the market to reassess its token issuance progress.
The B-20 code has been implemented, and the native token framework is gradually taking shape.
Beyond the official blog, the B-20 module in the Base repository provides a more detailed technical overview.
On May 19, Base merged the Dynamic Native Token Addresses submission. The current source code shows that B20Factory can derive deterministic token addresses based on the creator's address, token type variant, and a custom salt parameter.
In b20_factory/variant.rs, Base defines three categories of B-20 assets: standard B20 tokens, stablecoins, and security tokens.
b20_factory/storage.rs implements createB20, supporting the writing of name, symbol, supply cap, and initial mint calls. This resembles a native issuance framework covering multiple types of on-chain assets, rather than a single contract designed solely for one governance token.
The most discussed detail from the benchmark file base_precompiles.rs is that the test token was indeed named BaseToken with the symbol set to BASE. However, this detail should be interpreted cautiously and is not sufficient evidence that token issuance is imminent.
Beryl code exposed: Base's native asset system moves toward compliance control
B-20's focus is not just on "being able to issue tokens."
In provider.rs, Base states that upon reaching the Beryl upgrade and later, the network will deploy dynamic precompiles such as B20Factory, PolicyRegistryPrecompile, and ActivationRegistry. Although official documentation currently available does not yet include a formal Beryl upgrade page or mainnet activation time, the code already reveals its intended functionality.
Among these, PolicyRegistry is particularly noteworthy. This module supports allowlists and blocklists and allows B-20 tokens to bind policies to:
- Transfer sender;
- Transfer recipient;
- Withholding agent;
- Mint recipient.
In actions/harness/tests/beryl/policy_transfer.rs, the test code has verified that B-20 transfers will be rejected if the sender does not meet the bonded allowlist criteria or is on the blocklist.
This design is well-suited for assets with permissioned access requirements, such as stablecoins, security tokens, and RWA. It indicates that Base is building a native system for issuing and circulating assets, with potential coverage of on-chain financial markets—not just a single potential BASE token.
Summary
A network that has already thoroughly discussed network tokens is now building native token factories, stablecoin modules, security asset modules, and permission policy systems at the execution layer, clearly demonstrating Base’s deepening commitment to on-chain asset issuance.
This is also consistent with the team’s recent public statements. On May 24, Base lead Jesse Pollak shared and endorsed discussions by Coinbase CEO Brian Armstrong on the direction of financial system upgrades, emphasizing RWA tokenization, stablecoin payments, and proxy payments. These positions align closely with B-20’s simultaneous support for the design of utility tokens, stablecoins, and security tokens.
However, there is a subtle distinction that is often overlooked: the native token infrastructure can serve ecosystem tokens, stablecoins, RWA, and compliant securities, as well as Base’s own network token. While the code demonstrates that Base is expanding its asset issuance capabilities, it does not prove when—or even whether—a native token will be launched or distributed to users via an airdrop.
A more prudent assessment at this time is that Base has reached the stage where its token infrastructure is gradually taking shape. Whether historical users will receive an airdrop, how eligibility will be calculated, and when distribution will begin still await official disclosure.