Base, second-layer scaling solution for Ethereum (ETH) curated by leading US exchange Coinbase, surpassed Solana (SOL) by TVL
Base, an Ethereum-based L2 on OP Stack by Optimism, is eating out the market share of the largest scalers. After six weeks of explosive growth, it left some veteran smart contracts platforms in the dust.Coinbase's L2 scaling network Base smashed through $500 million in total value locked across various protocols. This milestone was achieved despite the pale performance of Ethereum , Optimism and other major DeFi tokens, L2Beat data says.
According to DefiLlama, another tracker of blockchain data, Base's TVL is $370 million. However, even with the lowest of estimations, it eclipses Solana , an established smart contracts platform.As covered by U.Today, in September, Coinbase's L2 Base witnessed explosive growth in both transactions and unique addresses. On Sept. 14, 2023, itIn terms of total 24-hour transactional volume, the Base blockchain exceeded Avalanche , Optimism and Tron , DefiLlama's data says.
It should also be noted that despite the major hype, the team is not going to release a Base governance token in the near future. However, Coinbase's Chief Legal Officer Paul Grewal admitted that this scenario is not ruled out entirely by the developers. At the same time, all BASE tokens offered by airdrop runners on X are blatant scams and are only used to steal users' cryptocurrency.
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