Hassan Maishera
TL;DR
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Base activated Cobalt, its third mainnet upgrade, on Wednesday.
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Validity Transactions let users set conditions and deadlines for transaction inclusion while keeping submissions private until execution.
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B20 Composite Policies allow issuers to combine existing allowlists and blocklists using AND or OR logic.
Base has activated Cobalt, its third mainnet upgrade, introducing conditional transaction submissions and additional controls for assets issued under its B20 token standard.
The Coinbase-incubated Ethereum Layer 2 says the changes give traders more control over when transactions become eligible for inclusion.
They also expand the tools available to token issuers managing transfer restrictions, balance adjustments and asset recovery.
Cobalt went live Wednesday, building on the B20 standard introduced through Base’s Beryl upgrade in June.
Validity Transactions Add Conditions and Deadlines
Cobalt introduces Validity Transactions, which allow users to submit time-bound transactions that remain dormant until specified conditions are satisfied.
For example, a trader could submit a swap that becomes eligible only when a pool price reaches a particular USDC threshold before a designated block.
If the condition is met within that window, Base can include the transaction. If the deadline passes without the condition being satisfied, the transaction is never included.
Meeting the criteria makes a transaction eligible for inclusion; it does not establish that execution is guaranteed.
Base also says submissions remain private until they land onchain. The team describes the API as neutral infrastructure offering advanced traders additional control over their submissions.
Together, the timing and condition features provide a way to express execution requirements before a transaction enters the chain.
The upgrade expands B20 through Composite Policies, allowing asset issuers to combine existing allowlists and blocklists with AND or OR logic.
This lets issuers reuse policies already in operation rather than copy their members into separate lists or maintain synchronization outside the blockchain.
An issuer could, for example, require a recipient to appear on both a know-your-customer allowlist and a separate accreditation list. Removal from either list would cause a transfer to fail.
The feature supports assets with multiple eligibility requirements, where satisfying one condition alone is insufficient.
Its practical purpose is to make those requirements easier to maintain as membership changes, while preserving the underlying policies that determine whether a transfer is permitted.
Scheduled Updates Support Balance-Display Changes
Cobalt also introduces Schedule Multiplier Updates, aligning the B20 Asset multiplier with the ERC-8056 standard.
The functionality allows issuers to schedule changes to how asset balances are displayed. Base identifies stock splits as one example.
For tokenized shares, a scheduled adjustment could reflect a corporate action through the asset’s balance representation.
Base says existing integrations built for Beryl will continue working. New integrations can adopt the updated standard over time, allowing a gradual transition rather than requiring every application to change immediately.
Another addition is the seizeWithMemo function for B20 assets and stablecoins.
Where seizure has been enabled, an authorized administrator can reassign a holder’s balance. Base gives the example of moving shares from a frozen account to a recovery wallet.
The transaction records the source, destination, amount and an accompanying memo onchain.
The capability applies to assets configured to permit seizure and administrators authorized to perform it. It is an issuer-level control rather than a general ability for any user to move another holder’s funds.
The recorded memo provides additional context for the reassignment alongside the transfer details.
Faster Blocks and Native Smart Accounts Are Planned
Base outlined further changes planned for the coming months. These include reducing block times from two seconds to 200 milliseconds and making smart accounts native at the protocol level, with support for gas sponsorship and transaction batching.
The network also intends to support a subset of EVM improvements from Ethereum’s Glamsterdam upgrade.
Those developments remain roadmap items. Cobalt’s immediate changes focus on conditional transaction inclusion and the expanded functionality now available to B20 asset issuers.
