Driving Factors Behind Base’s Rise
Base’s remarkable ascent is attributed to projects like Aerodrome Finance and Friend.tech.
- Aerodrome Finance: This decentralized exchange (DEX) boasts a TVL of $97.83 million and allows users to deposit liquidity to earn AERO tokens. Launched on August 28, it experienced substantial growth but also a subsequent decline.
- Friend.tech: This decentralized social media (DeSo) app secured the second spot in TVL with $36.53 million. Launched on August 11, it facilitates the tokenization of social networks through the exchange of “Keys.” Despite initial concerns, it made a remarkable comeback in September.
Additionally, Base’s TVL is also attributed to multi-network DeFi platforms like Compound, Curve, and Uniswap.
Impressive Growth in Total Value Locked (TVL)
Base’s TVL has skyrocketed, reaching approximately $397.32 million within just a month and a half since its August launch. This surge has propelled Base ahead of Solana, which currently stands at $358.96 million in TVL. In the past 30 days, Base’s TVL surged by a staggering 97.21%, while Solana experienced a 9.64% decrease in TVL during the same period, despite Base’s outage at the beginning of September.
Increased Daily Transactions
Base has achieved an all-time high in daily transactions, peaking at 1.88 million on September 14. This accomplishment firmly positions Base ahead of rival chains like Optimism and Arbitrum, which collectively managed almost 880,000 transactions on the same day. Although daily transactions have dipped to around 908,000 as of September 22, Base’s transaction all-time high remains unbroken.
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