Coinbase’s layer 2 network Base has seen a surge in total value locked (TVL) in the past month and a half, reaching $397.32 million and surpassing the Solana network’s TVL of $358.96 million. Two Base-native projects, Aerodrome Finance and Friend.tech, account for the largest shares of the TVL on the network.Aerodrome Finance, a decentralized exchange (DEX), was launched on Aug. 28 and has seen its TVL skyrocket to $97.83 million. On Aug. 31, $150 million was deposited in one day alone, however the initial hype appears to have cooled since then, with the TVL decreasing by roughly 51%.Friend.tech, a decentralized social media (DeSo) app, was launched on Aug. 11 and enables users to tokenize their social networks. Despite being pronounced as “dead” in late August due to tanking user activity and fees, the platform surged dramatically in September, with its TVL increasing by 540%.Base also hit a new peak in terms of daily transactions on Sept. 14, reaching 1.88 million, well ahead of rival chains like Optimism and arbitrum. The all-time high remains intact for Base, with daily transactions decreasing to roughly 908,000 as of Sept. 22.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 9 |
| People | Uniswap, Curve, Aerodrome Finance, Compound, Friend.tech |
| Companies | arbitrum, FTX Europe, DeFi Llama, Solana, Optimism, Coinbase, Uniswap, Curve, Aerodrome Finance, Compound, Friend.tech |
| Currencies | Bitcoin, Friend Room, Ethereum, US Dollar, Aleph Zero |
| Securities | None |
