Key Points
- Base is at present holding about 80% of Uniswap’s month-to-month energetic merchants.
- Coinbase’s L2 launched in August 2023, gaining market share amongst DEX merchants in 2024.
Coinbase’s layer-2 blockchain community, Base, is at present internet hosting about 80% of Uniswap’s month-to-month energetic customers, in line with the most recent reviews.
Crypto researcher Token Terminal shared in a submit on X the variety of Uniswap energetic month-to-month customers since its launch, in comparison with Ethereum, Arbitrum, Polygon, BNB Chain, and extra.
Base launched again in August 2023 and began to quickly achieve market share amongst DEX merchants initially of 2024.
According to the info, Ethereum, Arbitrum, and Polygon have beforehand dominated DEX buying and selling exercise. Arbitrum stays the biggest L2 blockchain with nearly $16.9 billion in TVL, knowledge from L2Beat notes. Base comes subsequent with over $7 billion in TVL.
The L2Beat knowledge is a broad measurement of TVL together with native tokens, reminiscent of Arbitrum’s ARB which airdropped to customers final yr.
Base’s Strong Performance
Base was developed by Coinbase along with Optimism, one other L2 Ethereum Virtual Machine (EVM), utilizing the same expertise stack.
Base confirmed robust efficiency particularly amongst DEX merchants and as of July 31, it was processing nearly 42 transactions per second (TPS) versus Arbitrum One’s lower than 20 TPS, L2Beat knowledge notes.
Base advantages from its affiliation with Coinbase with options together with the next in line with official documentation:
- Seamless Coinbase integration
- Easy fiat on-ramps
- Access to tens of millions of verified customers within the Coinbase ecosystem
Over $240 million in Uniswap TVL has migrated to Base, DefiLlama data reveals. Also, in line with the identical knowledge, Aerodrome Finance, native to Base, and figuring out itself as “Base’s central liquidity hub” amassed over $645 million in TVL.
Base stays a competitor to Arbitrum for the main position in DeFi amongst Ethereum L2s and can face extra competitors from next-generation L2, reminiscent of ZK rollups within the subsequent years.
Zk-rollups supply quicker processing occasions, nearly immediate finality on transactions, and boosted safety. The principal gamers within the Zk-rollup race are Ethereum Ls2 Scroll, ZkSync Era, and Starknet, amassing over $3 billion in TVL, in line with L2Beat knowledge.