Base Overtakes OP Mainnet in TVL

Base has overtaken Optimism in TVL, becoming the largest Layer 2 network in the OP Stack-based ‘Superchain.’

What's the scoop?

• Surpassing OP Mainnet: With a 20% increase in TVL since the start of May, Base has surpassed OP Mainnet, swelling to $1.7B in total value locked (TVL), making it the largest chain within the Superchain ecosystem.
• Third Largest L2: Base, launched in August 2023, is now the third-largest L2, trailing Arbitrum ($3.81B) and Blast ($2.26B).
• Key Contributors: DEXs Aerodrome and Uniswap contribute significantly to Base’s TVL, with $714M and $312M in deposits, respectively.

Bankless Take:

Base's rise to the top of the Superchain ecosystem highlights the power of having an established culture, such as being dubbed the consumer chain, a burgeoning memecoin scene in recent months, and ongoing campaigns for ecosystem growth, like Onchain Summer. Their success not only demonstrates Coinbase's marketing firepower but also shows the demand for an approachable blockchain focused on onboarding. Further bolstered by the launch of smart wallets and the kickoff of Onchain Summer 2, it looks like we’re officially in Base Season.