Catenaa, Saturday, April 26, 2025-Zora, a social media platform on Coinbase’s Base chain, will launch its token on April 23, amid controversy surrounding a recent campaign by Jesse Pollak, creator of Ethereum’s Layer 2 network Base.
The campaign, which advocates for “content coins” to reward social media creators, has sparked debate over its timing and market readiness.
Pollak’s “content coin” thesis aims to disrupt the social media economy by ensuring that creators are properly compensated for their work.
However, critics, including Alon Cohen, co-founder of Pump.fun, argue that the concept may have been introduced too early for widespread adoption.
The debate intensified when Base’s official X account launched a token on Zora, called “Base is for everyone.” The token’s price skyrocketed to a $16.9 million market cap before crashing by 92% within hours. The token later experienced significant volatility, prompting speculation about the relationship between the timing of the Zora launch and Pollak’s campaign.
Zora’s announcement of its token launch on April 23, just days after the campaign’s peak, fueled accusations that the timing was coordinated for maximum impact. Some claimed that early token creators would receive larger allocations, potentially leading to a profit when the token is listed on Coinbase.
Pollak, however, denied the allegations, claiming the events were coincidental.
Despite the controversy, Zora has seen a significant uptick in user activity, with daily traders increasing by 601% during the campaign period. While some remain skeptical of the campaign’s motivations, others are embracing the app and the potential of content coins.
