According to data from DeFiLlama, Base, an Ethereum Layer 2 network developed by Coinbase, has become the highest Total Value Locked (TVL) Rollup, changing the ongoing dominance of Arbitrum.
Currently, Base has a TVL of $2.49 billion, distributed among 366 protocols, slightly surpassing Arbitrum’s $2.39 billion TVL. A significant portion of Base’s TVL comes from the decentralized exchange Aerodrome, which has a TVL exceeding $1.3 billion.
TVL distribution of all Rollups (source: DeFiLlama)
Furthermore, in terms of TVL, Base is currently among the top five blockchain networks, only behind Ethereum, Tron, Solana, and BNB Chain as Layer 1 blockchains.
Base is an Optimistic rollup built using the OP Stack development software stack. According to data from The Block, Base also holds a leading position in terms of user activity, with approximately 1.5 million daily active addresses, the highest among all Optimistic Rollups. According to Jesse Pollak, the protocol lead of Base, the network maintains a throughput of 70 TPS (transactions per second).
In terms of decentralization, Base is still in its early stages. According to the standards set by the L2 research platform L2BEAT, the network is in “Phase 0” – relying entirely on auxiliary chains. This means that the Rollup currently lacks a fraud-proof system, and users must rely on block proposers to submit accurate L1 state roots. The core developers of Base have committed to incorporating fraud-proof into their roadmap, and relevant development work is underway.
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