Coinbase’s Base L2 network overtakes StarkNet in TVL

On August 9, Coinbase opened Base’s mainnet as a second-layer solution for public access. TVL of the network reached $153 million, ahead of StarkNet, which has been operating since 2021.

Base is built on Optimism’s OP Stack and operates as an Ethereum-based layer-2 rollup.

On July 17, the team opened Base’s mainnet for project developers. In the run-up to the public launch, a number of services were made available to decentralized applications (dapps) developers, including:

• node providers, including Blockdaemon, QuickNode and Blast;
• the Safe “smart-wallet” infrastructure;
• blockchain explorers Basescan and Blockscout;
• data indexers The Graph, Goldsky and Covalent;
• developer tools from Thirdweb.

According to the statement, at the time of wide access to the mainnet there were more than 100 dapps and service providers active. They offered a range of use cases such as:

• cryptocurrency trading (Uniswap);
• digital collectibles (Zora);
• participation in restaurant loyalty programs (Blackbird);
• interactions with social platforms (Forecaster); 
• gaming (Parallel);
• XMTP messaging.

Coinbase also opened the Onchain Summer on-chain festival, dedicated to the mainnet’s launch. It will run for several weeks, during which the exchange will promote network partner dapps.

Over the past seven days, the volume of locked liquidity in Base rose 79%, activity rose 160% — in the last 24 hours the metric stood at 5.81 TPS.

In the L2 solutions segment, Arbitrum One and Optimism (OP Mainnet) dominate, with TVL of $6.01 billion and $2.87 billion respectively.

As reported, the team launched the Base testnet in February 2023.