How to Use BASE Network
Let's unpack the soaring success of Base, a fresh Ethereum Layer 2 platform that's already nabbed the fifth spot in total value locked (TVL) just days after its launch. Learn how it compares with titans like Arbitrum and Optimism, and discover the rich ecosystem of over 100 dApps and services that have already joined Base.
Base is a secure, economical, and developer-centric Ethereum Layer 2 solution designed to usher in the next billion onchain users.
Launched with the support of Coinbase, Base is on a mission to decentralize gradually over time. According to the team, they are committed to the ethos of decentralization, and see it as a cornerstone for building an all-inclusive, global cryptoeconomy.
Base has swiftly emerged as a key player among a crowded field of Ethereum layer 2 solutions, standing shoulder to shoulder with industry frontrunners like Arbitrum, Optimism, zkSync, Starknet, ImmutableX, Loopring, Metis, and Polygon. Within just days of its inauguration, Base had ascended into the top 5 in terms of total value locked (TVL), effectively quantifying the assets transitioned into and actively engaged within its app ecosystem.
Boasting an impressive $300+ million in TVL, Base has quickly seized approximately 2% of the staggering $10.6 billion that spans all layer 2 networks. This is especially notable when compared to the massive TVLs of leading contenders Arbitrum and Optimism, who dominate with $5 billion and $2 billion, respectively.
The platform has already become a bustling hub for over 100 decentralized apps (dapps) and service providers. This includes key players in the DeFi landscape like Uniswap, Sushiswap, and Balancer decentralized exchanges, along with the Aaveborrowing-and-lending services. Not to mention, wallet providers such as Exodus, Trust Wallet, and Brave, as well as pivotal infrastructure services like DRPC, Nansen, The Graph, and Etherscan, are also part of this flourishing ecosystem.
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