Base Surpasses $2 Billion in Total Value Locked (TVL)
Base has achieved a major milestone by surpassing a total value locked (TVL) of $2 billion for the first time — a remarkable 370% increase year-to-date.
Aerodrome Drives TVL Growth
The decentralized exchange (DEX) Aerodrome has been the largest contributor to this growth, boasting over $1 billion in deposits. This makes Aerodrome the dominant force behind Base’s increasing TVL.
Base: A Leading Layer 2 Ethereum Network
Base, a Layer 2 network built on Ethereum and incubated by Coinbase, has rapidly grown in prominence. It now holds the position of the second-largest optimistic rollup by deposits, trailing only Arbitrum.
According to data from DeFiLlama, Base’s TVL stands at $2.08 billion, up from approximately $430 million at the start of the year. This reflects an impressive 370% growth year-to-date.
Optimistic Rollup Technology
Base operates as an optimistic rollup, processing transactions off the main Ethereum blockchain and posting transaction data on-chain periodically. This approach reduces the load on Ethereum, improving its scalability and throughput. Base’s mainnet officially launched in August 2023.
Key Contributors to Base’s TVL
- Aerodrome: Over $1 billion in deposits, leading Base’s TVL growth.
- Uniswap: Holds $220 million in total value locked, ranking second in TVL contributions.
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