Summary
TLDR: Coinbase’s Layer 2 protocol Base has surpassed $1 billion in volume for decentralized exchanges (DEX), with a 25% increase in DEX volume to $1.2 billion. Uniswap dominates with over 64% of the total volume. Base also saw a surge in daily active users and total assets locked, with stablecoin balances nearing $1 billion. Base’s core contributor emphasized commitment to openness and decentralization.
Key Points
1. Coinbase’s Layer 2 protocol Base has surpassed $1 billion in volume for decentralized exchanges (DEX), marking a significant surge in DeFi activities.
2. Uniswap dominates Base’s DEX with over 64% of the total volume, followed by Aerodrome Finance at 9.7%. Other contenders include SharkSwap, BaseSwap, SushiSwap, and PancakeSwap.
3. Base has experienced a 200% surge in the total value of assets locked on the network, reaching over $3 billion. Additionally, stablecoin balances on the protocol are nearing $1 billion worth of USDC.