TheBlock
Base’s third mainnet upgrade, Cobalt, went live Wednesday with Validity Transactions and new features for its B20 token standard. Validity Transactions let users submit time-bound transactions that stay dormant until specified conditions are met. A swap, for example, can become eligible only if a pool reaches a target USDC price before a set block; otherwise, it is never included.
Why it matters
Validity Transactions give traders more control over when transactions become eligible for inclusion. Base says the API keeps submissions private until they land, adding a privacy feature for advanced traders.
Cobalt also lets B20 issuers combine existing allowlists and blocklists using OR or AND logic. A fund could require a recipient to meet both KYC and accreditation criteria, with a transfer failing if the recipient is removed from either list. Scheduled multiplier updates align B20 with ERC-8056 and can change how balances are displayed, including for a stock split. Existing Beryl integrations will continue to work as new integrations adopt the updated standard.
Market impact
Cobalt adds a seizeWithMemo function for B20 assets and stablecoins where seizure is enabled. Authorized administrators can reassign a holder’s balance, with the source, destination, amount and memo recorded onchain. Base cites moving shares from a frozen account to a recovery wallet as one use case.
The upgrade is part of a wider scaling roadmap. Base plans to reduce block times from 2 seconds to 200 milliseconds, make smart accounts native at the protocol level with gas sponsorship and transaction batching, and support some EVM improvements from Ethereum’s Glamsterdam upgrade. Those changes are planned for the coming months, not included as completed Cobalt features.
Frequently asked questions
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How do Validity Transactions determine whether a swap is included?
A user sets conditions, such as a target pool price and a deadline block. The swap becomes eligible for inclusion if the conditions are met in time; otherwise, it is never included.
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What privacy feature does Base describe for Validity Transactions?
Base says the API keeps advanced traders’ submissions private until they land.
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How can B20 issuers use composite policies?
Issuers can combine existing allowlists and blocklists with AND or OR logic, such as requiring a recipient to meet both KYC and accreditation criteria.
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What does seizeWithMemo record when an enabled balance is reassigned?
The onchain transaction records the source, destination, amount and memo. The function applies to B20 assets and stablecoins where seizure has been enabled.
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Which Base scaling changes are planned after Cobalt?
Base plans to reduce block times from 2 seconds to 200 milliseconds, add native smart accounts with gas sponsorship and transaction batching, and support some EVM improvements from Ethereum’s Glamsterdam upgrade.
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