Key takeaways

• We could not verify an ERC-20 token named “Highlight” at 0x5b0549… on the Base chain via BaseScan. This suggests the token may be unverified, inactive, misidentified, or extremely obscure.
• “Highlight” is also the name of a well-known NFT platform, Highlight.xyz, which deploys creator tools and system contracts across multiple chains—including Base. Those are infrastructure contracts, not a widely recognized ERC-20 “Highlight” token.
• Base has publicly discussed exploring a potential native network token, but no official “Base token” has been launched or announced with a contract address. Any token claiming to be the Base network token today should be treated skeptically.
• If you explore trading, verify contract details yourself, check liquidity and taxes, and use reputable tools. Always assume elevated risk with unverified or thin-liquidity assets.

What we found (on-chain and off-chain)

• Contract lookup: Searching the address 0x5b05493c5aeb69ad1bd7ba502bd27ec2e9bb85e3 on BaseScan did not return a clearly verified ERC-20 token named “Highlight.”
• Naming overlap: “Highlight” commonly appears in crypto content as a generic term and as the brand for the Highlight Protocol. Do not assume any ERC-20 token using this label is affiliated with Highlight.xyz unless the team explicitly confirms it via official channels.

Highlight.xyz vs. a “Highlight” token

• Highlight.xyz is an NFT creation and management protocol with system contracts (like factories and managers) deployed across chains, Base included.
• There is no public indication that Highlight.xyz has a native ERC-20 named “Highlight” serving as its utility or governance token on Base.
• If a token claims an affiliation, cross-check:
  • Official website and docs: highlight.xyz
  • Verified social channels linked from the site
  • Contract addresses published by the team

Base chain context you should know

• Base is an Ethereum Layer 2 built to provide low fees and a developer-friendly environment while using ETH for gas.
• In September 2025, Base leaders shared they’re exploring a native network token to further decentralization and ecosystem incentives. However, there are no definitive plans, timelines, or official contract addresses announced.
• Translation: Any token today positioning itself as “the Base token” is unofficial and high risk.

How to verify a token like “Highlight” on Base

Before you trade or interact, do a quick, repeatable checklist:

1. Confirm the contract on a trusted explorer

• Use BaseScan and search the exact address.
• Look for:
  • Verified contract source code
  • Token name, symbol, and decimals under “Read Contract”
  • Total supply and holder distribution
  • Contract creation date and creator

2. Inspect liquidity and trading conditions

• On DEX UIs like Uniswap on Base or Aerodrome, check:
  • Liquidity pool size and depth
  • Price impact for reasonable trade sizes
  • Any unusual taxes (buy/sell)
  • Recent trade history and slippage

3. Cross-check socials and announcements

• Verify the project’s official website and socials are consistent and link back to the same contract address.
• Beware of lookalike accounts and cloned sites.

4. Assess holder and contract risk

• Look at holder concentration (e.g., one wallet controlling most supply).
• Check for mint, blacklist, or trading control functions in the contract (if the source is verified).
• Review recent contract interactions for suspicious patterns.

Trading considerations and platforms

If, after verification, you still choose to explore the token:

• Analytics and trading
  • View the token page and analytics on GMGN.AI: https://gmgn.ai/base/token/fV1R5sZ5_0x5b05493c5aeb69ad1bd7ba502bd27ec2e9bb85e3
• Decentralized exchanges on Base
  • Uniswap (Base)
  • Aerodrome

Important: If the token is not discoverable or lacks liquidity on these venues, that’s a red flag. Never “force” a trade via custom routers unless you fully understand the risks.

Red flags to watch

• No BaseScan verification, sparse or zero transactions
• No official links, or mismatched links across site, X, and Telegram
• Concentrated holder distribution; deployer retains large supply
• Trading taxes >5% or adjustable by the owner
• Honeypot behavior (buys succeed, sells fail)
• Aggressive, paid shill campaigns with no technical or community depth

Frequently asked questions

• Is this the official Base token?
  No. Base has only announced exploration of a native token—no official token or contract address has been released. The “Highlight” token at 0x5b0549… is not the Base network token.

• Is this the Highlight.xyz protocol token?
  There is no credible, public indication that Highlight.xyz has an ERC-20 named “Highlight” on Base. Their known contracts are infrastructure for NFT creation and management, not a public utility token.

• Can I buy it?
  Only if you can verify the contract, confirm liquidity on reputable DEXs, and accept the risk. Use tools and platforms that show transparent pool data and trade history, such as GMGN.AI and established DEXs like Uniswap (Base) and Aerodrome. If liquidity is nonexistent or questionable, do not proceed.

• What’s the safest approach?
  Start with contract verification on BaseScan, cross-check official sources, examine liquidity and taxes, and use small test transactions if you still choose to proceed. Treat unverified tokens as highly speculative.

Bottom line

Our investigation did not find a verified ERC-20 “Highlight” at 0x5b0549… on Base. Given the branding overlap with Highlight.xyz and ongoing speculation around a potential Base network token, caution is essential. Verify everything, trade only if liquidity and legitimacy checks out, and assume elevated risk with obscure or unverified contracts.

Disclaimer: This article is for informational purposes only and is not financial advice. Crypto assets are volatile and risky. Always do your own research.