TLDR
- Base launched its Cobalt upgrade on mainnet, the network’s third major update.
- Cobalt introduces Validity Transactions, letting traders submit swaps that only go through if set conditions are met.
- The B20 token standard gained new features, including Composite Policies for combining compliance lists.
- Issuers can now schedule balance changes, such as stock splits, without minting or burning tokens.
- A new seizeWithMemo function lets authorized administrators move tokens from frozen accounts with a public record.
Base rolled out its Cobalt upgrade on Wednesday. The update is the third major mainnet upgrade for the Ethereum layer-2 network. It focuses on giving traders more control over transactions while handing issuers new tools for managing tokenized assets.
LATEST: ⚡️ Base launched its third mainnet upgrade, Cobalt, adding Validity Transactions that let users submit time-bound transactions that stay dormant until user-specified conditions are met. pic.twitter.com/wkITdJa8ys
— CoinMarketCap (@CoinMarketCap) October 1, 2026
The centerpiece of the upgrade is a feature called Validity Transactions. This lets users submit transactions that stay inactive until certain onchain conditions are met.
For example, a trader could submit a swap that only activates if an asset hits a certain price before a set deadline. Base holds the transaction and checks the conditions as each new block is built.
If the price never reaches that level, the transaction is simply never included. Base said these submissions can also stay private until they land onchain.
What Changed for the B20 Token Standard
Cobalt also expands the B20 token standard, which first went live in June. One new feature is called Composite Policies.
This allows issuers to combine existing allowlists and blocklists using OR or AND logic. A fund, for instance, could require buyers to pass a KYC check and also appear on its own accreditation list.
If a holder is removed from either list, the transfer would fail. Base said this removes the need for issuers to copy member lists or sync them manually across systems.
Another addition is Schedule Multiplier Updates. These let issuers plan changes to how an asset’s balance appears in wallets, such as during a stock split.
The number of tokens shown to holders can change without any new tokens being created or destroyed. The underlying balance stays the same behind the scenes.
New Controls for Frozen Accounts
Cobalt adds a function called seizeWithMemo. This gives authorized administrators the ability to reassign a holder’s balance if seizure has been turned on for that asset.
Base gave an example of a frozen account. An administrator could move the shares to a recovery wallet, and the move would be recorded onchain with a note explaining why.
Base said it cannot trigger these transfers itself. Each issuer decides whether to turn the feature on and who gets permission to use it.
The upgrade builds on a string of moves this year to push Base deeper into tokenized finance. In July, Base rolled out B20 as a standard for stablecoins and real-world assets.
That same month, Base creator Jesse Pollak said the network had focused too much on social and messaging apps early on. He said it had fallen behind in areas like prediction markets and trading tools.
Pollak said the plan going forward is to treat financial tools, including trading and payments, as a bigger priority. He wants Base to grow into a network built for global finance.
One early result of that shift came in August. Coinbase launched tokenized stock products on Base using the B20 standard, covering shares in companies like Apple and Nvidia.
Base has more changes planned beyond Cobalt. The network wants to cut block times from two seconds down to 200 milliseconds in the coming months.
It also plans to build smart accounts directly into the protocol, along with gas sponsorship and transaction bundling. Some of these changes will borrow from Ethereum’s upcoming Glamsterdam upgrade.
