Former member of Coinbase Ventures: The initial market value of the Base token may be around $20 billion, with token functionality similar to ETH According to the latest interview report from Unchained, Coinbase's L2 project Base announced that it is exploring the possibility of issuing tokens, marking a significant shift in Base's stance that it has never planned to issue tokens. Former Coinbase Ventures member Ryan Ye predicts that the initial market value of the Base token may be around $20 billion and has the potential to rise to $40 billion to $50 billion. He believes that token issuance will significantly promote the development of the Base ecosystem and attract more developers and users. Ryan speculates that token distribution may include: 20% -40% going to Coinbase, approximately 20% going to independent community vaults, and the remaining portion being distributed to the community through airdrops or public sales. He also pointed out that the Base token function, or ETH similar to Ethereum, is partially used for on chain fee burning and may become a core liquidity asset for DeFi. In addition, Base has integrated with Solana on the test network. Ryan believes that this indicates that Base acknowledges Solana as its biggest competitor and attracts developers through this move. He pointed out that the competition between Base and Solana mainly focuses on user culture and DeFi liquidity, with Base leaning more towards DeFi liquidity, while Solana dominates in user experience and consumer culture. Related reading: Having repeatedly reiterated not issuing coins, why has Base now backed out?