Base Chain: Comprehensive Analysis of the Leading Layer 2 Star Projects and Ecosystem by TVL

Base chain is a project incubated by Coinbase, aiming to become part of the Optimism superchain. According to data, the TVL of Base chain has surpassed Layer 2 projects like Arbitrum and Optimism, making it the number one Layer 2 in TVL rankings.

Overview of Base Chain

Base chain is a Layer 2 solution built on the OP Stack based on Optimism. It employs Optimistic Rollups technology, is highly compatible with Ethereum, and supports rapid migration of dApps. As the second core team participating in the development of the OP Stack and Superchain, Base is committed to enhancing the activity of the Superchain and advancing the development of the developer ecosystem.

On-chain Data Analysis

TVL

The TVL of Base chain surged significantly after September, rising from $1.419 billion to $2.388 billion, an increase of 68.28%.

on-chain address count

The number of addresses increased from 24.55 million to 74.88 million after August, an increase of 205.01%.

on-chain income

From March to October, the total revenue increased by 287%, with an average monthly growth of 41%.

Weekly Trading Volume

A total growth of 249% from May to October, with an average monthly growth of 49%.

On-chain performance

The transaction volume per second ( TPS ) is 66.28, performing the best in the Ethereum ecosystem.

Weekly Active Addresses

Continuous stable growth.

USDC's Support for Base

Circle officially announced support for the Base chain, with USDC being natively issued on Base. The trading volume of USDC on the Base chain DEX has exceeded $20 billion. Coinbase partnered with Stripe to bring USDC to the Base platform, enabling faster and lower-cost cross-border transfers.

Overview of the Base Chain Ecosystem

The Base chain ecosystem covers multiple tracks including Wallet, Bridge, DeFi, Gaming, etc., with a total of 323 Dapps.

DeFi track

Main projects include:

• Aerodrome: The first DEX of Base chain, adopting Ve(3,3) model.
• Morpho Blue: Decentralized Lending Protocol
• Extra Finance: Leverage Lending and Automatic Compounding Yield Aggregation Protocol

Meme Coin Track

Meme coin projects such as TYBG and Degen frequently appear on the Base chain, attracting a large amount of market traffic.

SocialFi track

• friend.tech: A social platform based on Twitter accounts
• Farcaster: Decentralized social network protocol, combining Warpcast application and DEGEN token

Coinbase's Innovations on the Base Chain

Coinbase launched the Based Agents service, allowing users to quickly create AI agents on the Base chain. Among them, the Virtuals Protocol is the most popular AI agent product.

Summary

Base chain, launched by Coinbase as a Layer 2 network, has performed excellently in metrics such as TVL, user growth, and transaction volume. Its ecosystem covers popular sectors like DeFi, Meme coins, and SocialFi, and actively explores the integration of AI and blockchain. With the support of Coinbase and innovative technology applications, Base has become one of the most promising Layer 2 solutions in the Ethereum ecosystem.