Étienne Girard
Base, a Layer 2 Ethereum network developed by Coinbase, has surpassed $2 billion in total value locked (TVL), making it the second-largest optimistic rollup by deposits, just behind Arbitrum.
Data from DeFiLlama shows that Base’s TVL currently sits at $2.08 billion, a significant rise from approximately $430 million at the start of the year, reflecting a 370% increase year-to-date.
Base operates as an optimistic rollup, handling transactions off the main Ethereum chain and only submitting transaction data to the Ethereum network periodically. This reduces the load on Ethereum and increases transaction throughput. The network’s mainnet officially launched in August 2023.
The decentralized exchange Aerodrome has been the largest contributor to Base’s TVL growth over the past year, with deposits exceeding $1 billion. Uniswap follows with $220 million in locked value.
Although Arbitrum remains the leader in TVL among optimistic rollups, Base has consistently led in terms of user activity, including metrics like active addresses and daily transactions, according to data from PRIME X.
