Hyperliquid News Today: Jesse Pollak's $JESSE Token: Will Onchain Creator Value Outlast the Hype?

Base Co-Founder Jesse Pollak Launches $JESSE Token, Warns of Phishing Risks Amid Creator-Economy Push

Base co-founder Jesse Pollak has unveiled his personal creator token, $JESSE, marking another step in his advocacy for a decentralized, onchain creator economy. The token, set to debut on Coinbase's Base App, is framed as a long-term representation of Pollak's content value rather than a short-term speculative asset. However, Pollak has sounded urgent alarms about phishing risks, urging users to verify all updates exclusively through his verified X account and Base App profile, jesse.base.eth according to the report.

Pollak's announcement reignites debates about the evolving role of creator tokens within the Base ecosystem. He distinguishes $JESSE from so-called "content coins," which he argues track fleeting attention metrics, whereas creator tokens aim to reflect sustained value creation. "This is the final piece of my creator flywheel," Pollak stated, emphasizing his vision of a system where creators and followers share ownership and upside according to the report. The Base App, Coinbase's hub for trading, self-custody, and onchain social features, is positioned as the central platform for this new economy according to the report.

Despite Pollak's optimism, community reactions are mixed. Critics point to past volatility in similar tokens, such as Pollak's earlier "Base is for everyone" content coin, which saw a brief $10 million market cap spike before collapsing. Skeptics question whether $JESSE will avoid a similar fate, with some demanding clarity on the responsibilities of creators issuing tokens according to the report.

Pollak responded by highlighting the distinct functions of token types but declined to specify future utility or commitments according to the report.

Phishing concerns loom large. Pollak warned that impersonators and fraudulent links are "almost guaranteed" around the launch, echoing broader industry struggles with scams. His caution follows high-profile incidents where fake accounts and contracts have exploited user trust. "Double-check sources before interacting with any links or contracts," he urged according to the report.

The Base App's role in this initiative is pivotal. As Coinbase's "everything app," it integrates tools for trading, self-custody wallets, Base Pay for USDC transfers, and Farcaster-driven social features. Pollak has positioned it as the backbone of a creator economy where ownership is directly onchain according to the report. The platform's recent advancements, including DEX trading in Brazil and expanded token offerings, underscore Coinbase's push to solidify its onchain infrastructure.

With the $JESSE launch imminent, the crypto community remains divided. Supporters see potential for a new model of creator-led economics, while critics fear a repeat of past hype cycles. As Pollak navigates these dynamics, the success of $JESSE could signal a broader shift in how digital ownership is structured-or expose lingering challenges in the creator-token space according to the report.