BASE · B20 UNIVERSE
Coinbase issues these equities directly on Base as B20 tokens. Supply, splits and icons on this page are read from the tokens themselves; the markets come from live Aerodrome and Uniswap pools. The column worth reading is the last one — how far a token trades from the share it represents.
Base's equities are new and most have not been issued yet — totalSupply() returns zero for the majority. That is read live here rather than assumed, and a token whose supply could not be read is shown as —, never as a zero. The two are very different claims and only one of them is ours to make.
A B20 equity is a claim on a real share, so its on-chain price should track the Nasdaq print. It often does not: thin pools drift, and the spread is what a trader is actually paying or collecting. Only pools holding at least $5,000 are allowed to set the on-chain price — below that a single retail-sized order is the price.
A B20 represents a split through a multiplier. Under ERC-8056 that rescales the balance you are shown without rewriting any raw balance, so a split changes the share count on this page and moves no pool's reserves, price or liquidity.
