tl;dr
Jesse Pollak, creator of Coinbase’s Layer 2 network Base, defended the platform’s focus on creators and developers following criticism from Pump.fun co-founder Alon Cohen, who argued that traders are the most important users in crypto. Pollak emphasized that creativity drives trading and growth, pri...
Jesse Pollak, creator of Coinbase’s Layer 2 network Base, has staunchly defended the platform’s emphasis on prioritizing creators and developers over traders amid mounting backlash. This controversy erupted after Base's experimental token drop via Zora triggered a market frenzy that sent the token’s value soaring to $16.9 million before crashing 92% within hours.
Critics, including Pump.fun co-founder Alon Cohen, argued that traders represent the most vital user group in crypto and that trader demand is crucial for the survival of creator projects. Pollak countered this viewpoint, insisting that creativity drives trading and that trading volume and growth simply follow creative efforts. “Our north star is helping creators and developers build their dreams—everything else is downstream of that,” Pollak emphasized.
The debate intensified when Zora announced its own token launch shortly after Base’s token mint, sparking speculation about coordinated timing. Pollak denied any collaboration, explaining that the Base minting campaign “went 0 to 1 in a day” and Zora was unaware of it until after the fact.
The auto-minted token’s value has since plummeted from its peak to approximately $5 million, reflecting market volatility and community skepticism about the rollout’s implications. While Base confirmed that the tokens were never sold and labeled them unofficial, critics have branded the rollout irresponsible due to the rapid price collapse.
Pollak reaffirmed Base’s broader mission to cultivate a global on-chain economy centered on ownership, creativity, and sustainability rather than speculation. He invited creators and developers to make Base their priority platform, underscoring his commitment to fostering on-chain creativity regardless of short-term trading fluctuations.
This episode shines a spotlight on the enduring tension between fostering authentic creative ecosystems and accommodating the essential liquidity that traders provide. As the market digests these developments, the evolving balance between creators, developers, and traders remains a critical factor in the future of blockchain-based economies.