On September 30, the development team behind the L2 network Base launched the Cobalt upgrade on its mainnet. This update allows traders to set specific conditions for their transactions, while issuers of tokenized assets gain new control tools.
Introducing Base Cobalt, our third network upgrade of 2026.
— Base (@base) September 30, 2026
Validity Transactions and B20 enhancements are now live on mainnet.
Read the full breakdown ↓ pic.twitter.com/GkBZ5lhID9
A standout feature of this upgrade is the introduction of Validity Transactions, which allow on-chain conditions to be attached to signed operations. These transactions remain inactive until the specified conditions are met, and they are not visible to other network participants until they are included in a block, according to Base.
Conditions can include wallet balances, the status of smart contracts, or block numbers. A transaction will only be permissible if all specified parameters match. However, even in this case, the network does not reserve space for it nor guarantees execution.
The team noted that this functionality could allow, for instance, a swap to be initiated with a price condition. Base will consider it if the pool's quote reaches the specified level before a certain block. If this does not occur in time, the transaction won’t be included in a block.
New Features of B20
The Cobalt upgrade expands the B20 standard used for issuing stablecoins and tokenized assets.
Now, multiple restrictions can be applied to a token. New composite policies can merge two to four existing "whitelist" and "blacklist" address lists: a transfer proceeds if the address meets at least one of them (UNION) or all of them (INTERSECT), without the need to duplicate the lists.
For example, an issuer can restrict access to a token only to users who have completed KYC and are on the list of accredited investors. If an address is excluded from any of these lists, the restriction will apply at the next transfer.
Composite Policies allow token issuers to combine allowlists and blocklists with OR or AND logic.
— Base (@base) September 30, 2026
This means live policies, like KYC allowlists and sanctions blocklists, can be reused without duplicating them pic.twitter.com/WGLkAy0QU6
Additionally, users can now plan changes to the coefficient that affects the displayed quantity of an asset. This will be useful during stock splits, as wallets and applications will show the new number of shares while the base balances remain unchanged. The updated mechanism complies with ERC-8056 standards.
Another new feature is seizeWithMemo, which allows an authorized administrator to transfer tokens from one address to another without the owner's consent, leaving an on-chain note explaining the action. The total supply of the asset remains unchanged.
seizeWithMemo lets authorized admins reassign a holder’s balance as a transfer.
— Base (@base) September 30, 2026
The onchain record shows who it moved from, where it went, how much, and the memo pic.twitter.com/HKJmvK4gBL
By default, this seizure feature is disabled. For an issuer to utilize it, they must separately enable it for a specific token, and an administrator must obtain a special role. This option is applicable for both tokenized assets and stablecoins on B20. Base itself cannot initiate such operations.
Dynamic Updates
The Cobalt upgrade has also laid the groundwork for simpler network updates. The schedule for future hard forks is stored in a smart contract on Ethereum, allowing Base nodes to read from it and implement changes without requiring a restart.
Currently, this mechanism is in a testing phase on the mainnet, with developers collecting data to ensure its reliability.
Furthermore, Base has streamlined the onboarding of new participants who sign network data in a trusted execution environment (TEE). Their verification now occurs entirely on the blockchain, replacing the previous system based on RISC Zero and Boundless, which relied on an external proof generation service.
Future Plans
Initially, the team intended to include native account abstraction (EIP-8130) in the Cobalt upgrade, but it was ultimately omitted. In the coming months, Base plans to integrate smart accounts directly into the protocol, allowing users to cover gas fees and bundle multiple transactions into one.
Developers also aim to reduce block creation time from two seconds to 200 milliseconds and implement some changes from the upcoming Ethereum Glamsterdam upgrade.
It’s worth noting that on July 8, Base activated the B20 standard for issuing stablecoins, RWA, and other fungible assets, which was part of the Beryl upgrade launched in June.
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