Ethereum’s Base Surpasses Arbitrum in Total Value Locked

Base Becomes Largest Layer 2 Rollup on Ethereum Network

Base has emerged as the largest Layer 2 rollup on the Ethereum network, with a total value locked (TVL) of $2.49 billion. This milestone places Base among the top five blockchains by TVL, behind only Ethereum, Tron, Solana, and BNB Chain.

Base Surpasses Arbitrum in TVL

According to data from DeFiLlama, Base has slightly surpassed Arbitrum, which holds a TVL of $2.39 billion. A substantial portion of Base’s total deposits comes from the decentralized exchange Aerodrome, which alone accounts for over $1.3 billion in assets.

Coinbase-Developed Network and Optimistic Rollup

Base, developed by Coinbase, utilizes an optimistic rollup mechanism powered by the OP Stack. This allows the network to process transactions off the main Ethereum blockchain, committing data back to it later. The result is a highly efficient and scalable network solution.

Leading in User Engagement

In addition to its impressive TVL, Base leads in user engagement with around 1.5 million daily active addresses. This is the highest level of activity among Layer 1 rollups, highlighting strong user adoption and robust network utilization.

Network Capacity Expands

To support increasing user activity, Base recently raised its block gas target from 10 to 13 Mgas/s. These weekly adjustments aim to expand network capacity, with a long-term goal of reaching 1 Ggas/s.

Early Stages of Decentralization

Despite its rapid growth, Base remains in the early stages of decentralization. As an optimistic stage 0 rollup, it currently lacks a fraud-proof system. Users must rely on the block proposer to submit accurate Layer 1 state roots, as per data from L2Beat.

Plans for Future Updates

However, the development team has outlined future plans to implement fraud-proof mechanisms. These updates will further enhance the security and decentralization of the Base network.

• Total Value Locked (TVL): $2.49 billion
• Top five blockchain by TVL: Ethereum, Tron, Solana, BNB Chain, Base
• Key contributor: Aerodrome ($1.3 billion in deposits)
• Daily active addresses: 1.5 million
• Gas target raised from 10 to 13 Mgas/s
• Future plans: Introduction of fraud proofs