According to data from DeFiLlama, Base, an Ethereum Layer 2 network developed by Coinbase, has become the highest Total Value Locked (TVL) Rollup, changing the situation where Arbitrum has been leading.
Currently, Base has a TVL of $2.49 billion, distributed across 366 protocols, slightly surpassing Arbitrum’s $2.39 billion TVL. A significant portion of Base’s TVL comes from the decentralized exchange Aerodrome, which has a TVL exceeding $1.3 billion.
Percentage of TVL for all Rollups (source: DeFiLlama)
Furthermore, in terms of TVL, Base currently ranks among the top five blockchain networks, second only to Ethereum, Tron, Solana, and BNB Chain, which are Layer 1 blockchains.
Base is an Optimistic rollup constructed using the OP Stack development stack. According to data from The Block, Base is also leading in terms of user activity, with approximately 1.5 million daily active addresses, the highest among all Optimistic Rollups. According to Jesse Pollak, the protocol lead of Base, the network maintains a throughput of 70 transactions per second (TPS).
In terms of decentralization, Base is still in its early stages. According to the standards set by the L2 research platform L2BEAT, the network is in “Phase 0” – heavily reliant on the auxiliary chain. This means that the Rollup does not yet have a fraud-proof system, and users must rely on block proposers to submit accurate L1 state roots. The core developers of Base have committed to incorporating fraud-proof into their roadmap, and relevant development work is underway.
Data source
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