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Base Overtakes OP Mainnet in TVL

Onchain Summer is already in full effect for Base's DeFi scene.

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Base Base has overtaken Optimism Optimism in TVL, becoming the largest Layer 2 network in the OP Stack-based ‘Superchain.’

What's the scoop?

  • Surpassing OP Mainnet: With a 20% increase in TVL since the start of May, Base has surpassed OP Mainnet, swelling to $1.7B in total value locked (TVL), making it the largest chain within the Superchain ecosystem.
  • Third Largest L2: Base, launched in August 2023, is now the third-largest L2, trailing Arbitrum Arbitrum ($3.81B) and Blast Blast ($2.26B).
  • Key Contributors: DEXs Aerodrome Aerodrome and Uniswap Uniswap contribute significantly to Base’s TVL, with $714M and $312M in deposits, respectively.

Bankless Take:

Base's rise to the top of the Superchain ecosystem highlights the power of having an established culture, such as being dubbed the consumer chain, a burgeoning memecoin scene in recent months, and ongoing campaigns for ecosystem growth, like Onchain Summer. Their success not only demonstrates Coinbase's marketing firepower but also shows the demand for an approachable blockchain focused on onboarding. Further bolstered by the launch of smart wallets and the kickoff of Onchain Summer 2, it looks like we’re officially in Base Season. 


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In The Article
Base Base Optimism Optimism Arbitrum Arbitrum Blast Blast Aerodrome Aerodrome Uniswap Uniswap UNI Coinbase Coinbase
David C

Written by David C

369 Articles • View all      

David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

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