Summary
TLDR: Coinbase’s Layer 2 solution, Base, has surpassed $2 billion in Total Value Locked, showing a 43.61% increase in a week. Base, built on Optimism, has seen success due to Coinbase’s backing. Coinbase is investing in gas grants and builder grants to support Base’s growth. Base’s integration with Coinbase’s user base has led to a surge in adoption, especially with the rise of meme coins and airdrops. The platform is expected to continue expanding with the potential for new protocols and ecosystem airdrops in the future.
Key Points
1. Coinbase’s Layer 2 solution, Base, has surpassed $2 billion in Total Value Locked (TVL), marking a 43.61% surge over the past week. This milestone reflects the growing traction and interest in this network, particularly focusing on meme coins and airdrops.
2. Base, engineered on the Optimism tech stack, has been pivotal in scaling Ethereum by enhancing transaction speed and reducing costs, all while maintaining the robust security of the Ethereum mainnet. The success of Base can largely be attributed to its parent company, Coinbase.
3. The momentum around Base suggests a growing interest in meme coins and airdrops. With the ecosystem still in its infancy, the potential for discovery and investment in meme coins is vast.