Base Cobalt Network Upgrade
Base Activates Cobalt Upgrade to Add Conditional Trading and Asset Controls
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Key Points
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Validity Transactions are evaluated against the blockchain’s state as each block is built; if the stated condition is not met by the deadline, the transaction expires. Base says submitted transactions can remain private until they are included in a block.
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Cobalt’s Composite Policies let issuers combine allowlists and blocklists using Boolean OR/AND rules—for example, requiring both KYC approval and accredited-investor status. A person’s removal from a required list can block a transfer.
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Scheduled multiplier updates change the number of tokens displayed in wallets and apps for events such as stock splits without minting or burning tokens or changing the underlying balance.
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Base’s B20 standard already included burnBlocked, which destroys tokens held by an account blocked under the sender policy. Cobalt marks that function obsolete but leaves it operational, preserving a distinct option for issuers alongside administrative balance reallocations.
Base activated its Cobalt upgrade, introducing Validity Transactions that let users set conditions for trades—like a price target with a deadline. If the condition isn't met by the deadline, the transaction expires and can remain private until execution. The upgrade also expands controls for B20 tokens, giving issuers new compliance and asset-management tools, including the ability to schedule balance adjustments for events like stock splits.
The changes aim to support tokenized financial products on Base's network. Issuers can now combine compliance rules using Boolean logic and, if they choose, authorize administrators to move tokens from holders' wallets with a public record. Base says it cannot initiate these transfers—only issuers can set and control the permissions.
Conditional Trades Lock in Execution Rules
Validity Transactions let users submit orders that execute only when the blockchain's state meets their stated conditions. Each block checks whether the condition holds true. If it doesn't meet the deadline, the transaction expires and never runs. cryptonews.net reports that submitted transactions can remain private until they're included in a block, reducing front-running risk.
Issuers Stack Compliance Rules With Boolean Logic
Cobalt's Composite Policies let token issuers combine allowlists and blocklists using AND/OR rules. For example, an issuer can require both KYC approval and accredited-investor status before a transfer. If a user gets removed from any required list, their transfer blocks immediately. This stacking approach gives issuers fine-grained control over who can trade or hold tokens.
Balance Updates Without Minting New Tokens
Scheduled multiplier updates let issuers adjust displayed token balances in wallets and apps for corporate events like stock splits. The actual underlying balance stays the same—no tokens are minted or burned. This feature supports real-world financial events on-chain without disrupting the token supply or requiring manual redistribution.
New Token Seizure Tools Preserve Issuer Choice
The B20 standard's existing burnBlocked function destroyed tokens held by blocked accounts. Cobalt marks it obsolete but keeps it operational, giving issuers a distinct option. Alongside that, administrators can now reallocate tokens from wallets with a public memo—if the issuer enables the feature. This layered approach lets different issuers pick the enforcement method that fits their compliance needs.
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