Cam Outdoor V2 Requires 2 SDs?

Just got my Cam Outdoor V2 last night.

I noticed that the base unit has an SD card slot.

There’s also one on the camera itself too.

Does it take 2 SD cards for this camera?

And what is the purpose of the slot on the base?

Slot in the base is for SD card so you can use backup of all the event videos to the base. Does not work with Cam Plus but does work with Cam Plus Lite.
SD in the camera is for scheduled event recording, travel mode and time lapse. I suggest you read all here including the FAQ.