TVL on the layer-2 Base has surpassed the 2 billion USD mark, marking a 20% increase in just the past month
Base, a solution owned by Coinbase, has officially secured its position in the top 7 blockchains with the largest TVL today.
According to data from DeFiLlama, the total assets locked on Base have reached $2 billion, marking a 20% increase compared to early May
“Base deployed its mainnet in July 2023 and rapidly ascended to the top 3 TVL layer-2 position, trailing just behind Arbitrum (3.81 billion USD) and Blast (2.26 billion USD).
To date, the layer-2 solution has achieved a significant milestone by surpassing OP Mainnet, thus becoming the largest network on Superchain – an ecosystem of layer-2 rollups utilizing OP’s infrastructure. Stack.”
“A significant contribution to the TVL of the entire Base system comes from the Aerodrome decentralized exchange with 713 million USD, followed by Uniswap with 314 million USD.”
At the end of March 2024, during the community frenzy to hunt for Base system memecoins, gas fees sometimes surged up to 5 USD per transaction. During this period, some observers even likened Base’s congestion to that of layer-1 Solana, which also served as fertile ground for memecoin proliferation.
The leading layer-2 chains such as Arbitrum, Blast, Base, and OP Mainnet employ an “optimistic rollup” approach. They operate by processing transactions off-chain, outside the Ethereum main chain, and only periodically updating transaction data to the main chain. This model alleviates pressure on the Ethereum main chain, enabling it to handle more transactions.
However, the approach of optimistic rollups differs from that of zero-knowledge rollups, such as zkSync, Linea, and Scroll. While optimistic rollups assume every transaction is correct and only check in case of a fraud report, zero-knowledge rollups consistently verify transactions from the outset.
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