TLDR
- Base launched Cobalt on September 30, marking its third mainnet upgrade.
- Validity Transactions let traders set conditions and deadlines, keeping submissions private until inclusion.
- Composite Policies allow issuers to combine existing approval and restriction lists.
- B20 updates support scheduled balance changes and authorized asset seizures with recorded memos.
- Base plans 200ms blocks, native smart accounts and selected features from Ethereum’s Glamsterdam upgrade.
The Base Cobalt upgrade went live Wednesday, September 30, adding transaction conditions and new controls for token issuers. The release marks the third mainnet upgrade for Coinbase’s Ethereum Layer 2 network.
Base Cobalt upgrade adds trading controls
Validity Transactions let users set conditions and deadlines before submitting transactions. Base checks whether those requirements hold before including a transaction. Base said its interface keeps submissions private until they reach the blockchain.
A trader can require a swap’s pool price to reach a minimum USDC value before a chosen block. Base can then include qualifying transactions. It excludes those that miss the deadline.
B20 expands transfer policies
The update builds on B20, which Base introduced through Beryl in June. Separately, Coinbase tokenized stocks became loan collateral on Aave V4’s Base market on September 25. Seven stock tokens can support USDC borrowing. The service targets eligible users outside the United States.
Composite Policies let issuers combine existing approval and restriction lists using AND or OR rules. Issuers can reuse those lists without copying entries or keeping separate systems aligned.
A fund could require recipients to pass identity checks and appear on its approved investor list. Removing a recipient from either list would prevent transfers under that policy.
Elsewhere, Chainlink’s CCIP 2.0 upgrade added identity checks, sanctions screening and transfer limits on September 28. Those controls govern asset movements between blockchains.
Issuers gain balance tools
The Base Cobalt upgrade also lets issuers schedule changes to displayed balances, including stock splits. These changes align B20’s balance multiplier with the ERC-8056 token standard. Existing Beryl integrations continue working while developers adopt the revised standard.
The seizeWithMemo function allows authorized administrators to move balances for B20 assets and stablecoins when an asset permits seizure. An administrator could transfer frozen shares to a recovery wallet. The blockchain records both addresses, the amount and a memo.
Payment services and future upgrades
Separately, Coinbase and Citi announced stablecoin payment services for businesses on September 28. Their tools let companies receive stablecoin payments and convert funds between traditional money and digital tokens.
Following the Base Cobalt upgrade, the team plans to cut block times from two seconds to 200 milliseconds. Native smart accounts would support sponsored fees and grouped transactions on the network. Base also intends to adopt selected Ethereum Glamsterdam improvements. The team expects these changes over the coming months.
