Base Chain: The Layer 2 star project with the highest TVL, a comprehensive analysis of ecological development

Introduction

Base chain is a rapidly developing Layer 2 project aimed at becoming an important part of the Optimism superchain. According to data, the TVL of Base chain has surpassed several established Layer 2 projects, making it the current number one Layer 2 project in terms of TVL.

Introduction to Base Chain

Base chain is a Layer 2 solution built on the OP Stack development toolkit. It utilizes Optimistic Rollups technology, offering strong Ethereum compatibility, making it easier for dApp migration. As the second core development team, Base has joined the development of OP Stack and Superchain, committed to enhancing the activity of the Superchain and promoting the growth of the developer ecosystem.

Base Chain Data Analysis

TVL

The TVL of the Base chain surged significantly after September, rising from $1.419 billion to $2.388 billion, an increase of 68.28%. Among all ETH-Layer 2, Base's TVL growth ranks first.

On-chain address count

The number of addresses on the Base chain increased from 24.55 million to 74.88 million after August, a growth rate of 205.01%. This indicates that the number of on-chain users has more than doubled in the past three months.

Base chain income

Base chain's total revenue growth from March to October reached 287%, with a monthly average growth of 41%, indicating that on-chain revenue remains high.

weekly trading volume

The weekly trading volume of the Base chain increased by a total of 249% from May to October, with an average monthly increase of 49%, and the trading volume continues to grow rapidly.

On-chain performance

Base's TPS reached 66.28, surpassing the performance of other chains, making it the best performer in the Ethereum ecosystem.

Comprehensive Analysis

Based on the above data, it can be concluded that the Base ecosystem is in a vigorous upward development trend. In terms of the two key factors of capital and flow, the Base chain performs the best among all ETH-Layer 2.

Circle(USDC)'s support for Base

Circle officially announced the native issuance of USDC on the Base chain and implemented cross-chain transfers through CCTP. Coinbase collaborated with Stripe to introduce USDC to the Base platform, enabling faster and cheaper cross-border transfers. The application of USDC on the Base chain has greatly promoted ecosystem development.

The ecological situation of the Base chain

The Base chain ecosystem covers multiple tracks including Wallet, Bridge, DeFi, Gaming, etc., with a total of 323 Dapps. The following tracks are重点分析了:

DeFi track

Main projects include Aerodrome, Uniswap, and Morpho Blue, among others. Aerodrome, as the first DEX on the Base chain, adopts the Ve(3,3) model and occupies more than half of the TVL on the chain.

Meme Coin Track

Meme coin projects have become the main driving force for funding and user participation, such as TYBG, Degen, and Brett.

SocialFi track

friend.tech and Farcaster have become the most influential SocialFi projects on the Base chain, bringing a large number of new users and funds to the blockchain.

Coinbase's Innovations on the Base Chain

Coinbase has launched Based Agents, allowing users to quickly create AI agents on the Base chain. Virtuals Protocol has become one of the most popular AI agent products.

Summary

Base chain, with the support of Coinbase, innovative technology applications, and a rich variety of ecological projects, has become one of the most promising Layer 2 solutions in the Ethereum ecosystem, providing strong infrastructure support for the development of decentralized finance and Web3.