Base Overtakes OP Mainnet to Become Largest Superchain
TVL on Base's layer-2 surpasses $2 billion, marking a 20% increase in just one month.
Base Overtakes OP Mainnet to Become Largest Superchain. Photo: base.org
Base, a solution spearheaded by Coinbase, has officially entered the top 7 blockchains with the largest TVL (Total Value Locked) today.
According to DeFiLIama data, the total assets locked on Base have reached $2 billion, a 20% increase since early May.
TVL of Base's layer-2 as of June 7. Source: DeFiLIama
Base launched its mainnet in July 2023 and quickly rose to the top 3 in TVL for layer-2 solutions, trailing only Arbitrum ($3.81 billion) and Blast ($2.26 billion).
Today, the layer-2 solution achieves a new milestone by surpassing OP Mainnet, becoming the largest network on Superchain - an ecosystem of rollup layer-2 solutions utilizing OP Stack infrastructure.
Source: L2Beat
A significant contribution to Base's overall TVL comes from the centralized exchange Aerodrome with $713 million, followed by Uniswap with $314 million.
Top dApps attracting highest TVL on Base. Source: DeFiLiama
By late March 2024, during the rush of memecoin hunts on the Base network, gas fees soared to as high as $5 per transaction. At that time, observers noted congestion issues on Base alongside Solana, which also saw a surge in memecoin activity.
Leading layer-2 chains like Arbitrum, Blast, Base, and OP Mainnet are categorized as "optimistic rollups." They operate by processing transactions off-chain and periodically updating transaction data on the main Ethereum chain (on-chain). This model helps alleviate the burden on the Ethereum mainnet, enabling it to handle more transactions.
However, optimistic rollups differ from zero-knowledge rollups like zkSync, Loopring, and StarkNet. While optimistic rollups assume all transactions are valid and only check for fraud reports, zero-knowledge rollups continuously verify transactions from the outset.
