USDT (Base)

The exact origin of USDT on Base remains unclear. The Base explorer lists gfx.xyz as linked to this token, but there is no public documentation from GFX Labs confirming their involvement. Security firm BlockSec has also associated GFX Labs with the token’s deployment, but without formal verification, this connection remains speculative. Base’s native bridge infrastructure operates in a permissionless manner, allowing any entity to deploy bridged tokens without centralised approval. While only the L2 bridge contract can mint and burn tokens, this setup enables unverified tokens like this version of USDT to exist without formal oversight. Given the lack of transparency, users should approach this asset with caution.

Although 'USDT' was the ticker assigned at the deployment of this token's smart contract on basechain, it is already in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this pre-existing association and to avoid confusion in the marketplace, the alternative ticker 'USDTBASE' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.