CryptoSlate
Base’s Cobalt upgrade is scheduled for mainnet on Sept. 30 at 18:00 UTC. It adds a separate seizure policy for B20 tokens, allowing an issuer to make a holder’s balance eligible for administrative reassignment without restricting that holder’s ordinary transfers. Seizure is disabled by default.
The new seizeWithMemo operation moves tokens from a holder to another address without changing total supply. It bypasses ordinary transfer policies and holder allowances, but execution still requires a configured eligibility policy, SEIZE_ROLE, an unpaused seizure function, a permitted recipient and sufficient balance. If the eligibility policy is left unset, all holders are exempt.
B20 already lets authorized administrators burn balances blocked under its transfer-sender policy. Cobalt keeps that function callable while marking it deprecated. The distinction is consequential: seizure reassigns tokens that remain in circulation, while burning destroys them. The two operations have separate roles and pause controls.
Base lists maintenance from 18:00 to 20:00 UTC for the scheduled mainnet upgrade. Its v1.4.2 release instructs node operators to upgrade by Sept. 30 at 18:00 UTC.
Frequently asked questions
-
Can a B20 holder transfer tokens and still be subject to seizure?
Yes. Cobalt separates seizure eligibility from ordinary transfer restrictions, so permission to transfer does not determine whether a balance can be reassigned.
-
Is seizure enabled by default for B20 tokens?
No. Seizure is disabled by default, and an unset seizure eligibility policy exempts all holders.
-
What permissions are needed to execute a seizure?
Execution requires a configured eligibility policy, SEIZE_ROLE, an unpaused seizure function, a permitted recipient and sufficient balance.
-
Does seizeWithMemo reduce a B20 token’s total supply?
No. It moves tokens from a holder to another address without changing total supply. Burning, by contrast, destroys tokens.
-
When is the Cobalt mainnet upgrade scheduled?
The upgrade is scheduled for Sept. 30 at 18:00 UTC, with maintenance listed through 20:00 UTC. Node operators have been instructed to upgrade by 18:00 UTC.
WuBlockchain
TheBlock
CoinDesk
Crypto News
WatcherGuru
CoinTelegraph