Base creator Jesse Pollak has admitted that the network's multi-year bet on onchain social products failed to deliver the expected growth. In a post published Wednesday, Pollak said the strategy, which focused on developers and social applications like Farcaster, Zora, mini apps, and creator coins, did not become the growth engine Base had anticipated. He accepted responsibility for the outcome, writing that he had been wrong about the strategy, while noting it remains unclear whether the approach failed due to poor timing or an incorrect underlying thesis.
Social strategy reassessed
Pollak acknowledged that Base lost ground in several product categories while concentrating heavily on social experiences. Although the network supported trading applications such as Avantis and Limitless, those platforms remained smaller than competing services. Base also lacked strong tokenization tools and enterprise payment infrastructure. As part of the reassessment, Pollak has handed responsibility for the Base App back to Coinbase, allowing him to focus on developing the Base blockchain itself. Crypto investor Jordan Fish, known as Cobie, will oversee the app's next phase within Coinbase. Coinbase strengthened its relationship with Cobie last year through two transactions worth $400 million, including the $375 million acquisition of Echo, his onchain fundraising platform.
New priorities: trading, payments, AI
Looking ahead, Pollak said Base will concentrate on three priorities throughout 2026: trading, payments, and AI agents. The trading strategy includes supporting more onchain assets such as tokenized stocks, meme tokens, and application tokens. Payments will focus on expanding stablecoin use for consumers and businesses, while AI infrastructure targets software-based economic systems that require programmable digital money. Pollak has previously argued that AI agents represent an important use case for crypto because autonomous software can move funds through APIs and smart contracts without traditional payment systems. Developers will continue to receive support through initiatives including Base Layer, Base Batches, the Base Ecosystem Fund, and distribution across Coinbase and the Base App.
Competitive pressures in stablecoin space
The renewed focus on payments comes as stablecoin economics face increasing competitive pressure. JPMorgan recently lowered its earnings forecasts for Coinbase and Circle after a revised USDC revenue-sharing agreement with Hyperliquid. According to the bank, the agreement could reduce long-term profitability of the stablecoin business because issuers may have to share a larger portion of reserve income with distribution partners to expand adoption. Although separate from Base's product roadmap, the development highlights the increasingly competitive environment surrounding blockchain payment infrastructure. Pollak closed his update by stating that Base intends to become the blockchain where global financial activity settles over the coming decades.