Since its launch in August, the total value locked (TVL) of Coinbase’s layer 2 network, Base, has increased to $397.32 million. This figure currently puts Base ahead of the Solana network, which has a TVL of $358.96 million at the time of this writing.
The last 30 days were important for Base. DefiLlama this shows that The network’s TVL increased by a whopping 97.21% last month.
By comparison, Solana’s TVL decreased by 9.64% over the same time period.
The largest share of the network’s TVL is represented by two local Base projects.
In first place is decentralized exchange Aerodrome Finance with a TVL of $97.83 million. Decentralized social media application Friend.tech follows with a TVL of $36.53 million.
The airport opened on August 28 allows users to deposit liquidity to obtain native AERO tokensand many other features. Aerodrome’s TVL rose rapidly on August 31, with $150 million deposited that day alone, despite failing to collect significant deposits during the first two days.
On September 2, its TVL reached $200 million; but the initial excitement appears to have waned since then, with TVL falling nearly 51% from its peak.
The Friend.tech platform, launched on August 11, allows users to tokenize their social relationships by buying and selling “keys.” Despite being declared bankrupt at the end of August collapse in user activity and commissions, the platform saw an increase in September.
According to DefiLlama, Friend.tech’s TVL increased by 540% last monthespecially after a whilewave It started on September 9 and daily trading volume resumed.
Towards the end of the list, Basic TVL is generally represented by multi-network decentralized financial platforms such as Compound, Curve and Uniswap.
Fundamental Transactions are at an all-time high
Earlier this month, Cointelegraph reported that Base reached a new high in daily transactions, reaching 1.88 million on September 14, according to BaseScan data.
This figure puts it well above rival chains such as Optimism and Arbitrum, which processed approximately 880,000 transactions in total.
The all-time high for Base remains intact, with daily transactions falling to around 908,000 as of September 22.