Base Token Chaos: From Hype to Heartbreak in Decentralized Experimentation

The Base token experiment, launched on the Coinbase-backed Layer 2 network in April 2025, ignited a whirlwind of controversy and market volatility. An experimental token release generated via Zora’s on-chain content functionality saw its value surge to $13 million before crashing by over 92% within hours. The incident raises questions about the ethics of automated token creation and how decentralized platforms should handle their role in retail trading.