Base is an Ethereum Layer-2 network incubated by Coinbase, utilizing the OP Stack architecture, focusing on low fees, ease of development, scalability, and compatibility with the Ethereum ecosystem (such as no need for a native token). Its goal is to create an open platform for a "global economy" in conjunction with the Coinbase ecosystem, providing easy fiat on-ramp, data compatibility, and a high-throughput experience.
Recently, the number of new tokens added daily on Base has surpassed Solana, reaching over 50,000 tokens per day, primarily driven by Zora and Farcaster. Zora automatically mints ERC-20 tokens from posts and pairs them with Uniswap liquidity pools, igniting a wave of creator economy and community token issuance. Coinbase has introduced Creator Coins and Content Coins features in its app, actively attracting users from other ecosystems to migrate, promoting token liquidity and user growth.
Several key DeFi projects have emerged within the Base ecosystem. Aerodrome Finance, as a mainstream AMM protocol, has already accumulated billions in funding; BaseSwap is the local native DEX, expanding popular trading pairs and LP mechanisms. In terms of infrastructure, Thirdweb provides zero-code deployment services, Rainbow Wallet has added Base support, and Propeller Heads offers RPC nodes and on-chain analysis services, facilitating seamless access for developers and users.
SStable Labs recently announced the launch of its stablecoin ecosystem platform on Base, combining Axelar's cross-chain infrastructure to achieve cross-chain interoperability for the USDX ecosystem, and launching three token pools on Balancer V3 to incentivize liquidity, representing a significant implementation of DeFi cross-chain strategy.
As of June 2025, Base has reached new highs in daily transaction counts, with active user addresses in the millions and weekly active users in the tens of millions. DeFi TVL has rapidly surpassed 4 billion and continues to rise, with traffic and capital continuously converging. The daily revenue of the Base network exceeds 100 million USD, with Q1 transaction fees reaching 193 million USD, aiming to achieve a target of 100 billion USD in on-chain assets by 2025, demonstrating significant monetization potential for its platform.
Sustainability of token issuance: The current issuance boom is primarily driven by social tokens; if it relies on short-term speculation in the long run, it may lead to a decline in user retention.
Compliance and trust assurance: As a project incubated by Coinbase, Base faces challenges from different regulatory jurisdictions, especially regarding the legitimacy and standardization of content coins and community tokens.
Infrastructure stability: As transaction volumes and protocol load pressures increase, network security, RPC node load, and user experience still require enhanced protective measures.
Deepening social economic models: Continue to optimize Zora and Farcaster functionalities to improve the circulation efficiency of content tokens and community engagement.
Strengthening cross-chain ecosystem interaction: Promote more projects like Stable Labs to embrace cross-chain protocols, such as Axelar and Chainlink CCIP, enhancing multi-chain interoperability.
Improving infrastructure and tool support: Encourage more developers to build dApps using tools like Thirdweb, while strengthening analysis, wallet, and security support systems.
Building a sustainable ecosystem mechanism: Introduce predictable incentive mechanisms, liquidity protection tools, and governance mechanisms to guide long-term capital and user investment.
The ecosystem construction centered around Base is entering a high-speed phase, with social tokens, DeFi projects, new user migration, and development tools driving each other, forming a virtuous ecological chain. With the support of Coinbase and the advantages of Ethereum compatibility, Base is moving towards a leadership position in the Layer-2 network. Whether it can continue to solidify its social finance path, optimize cross-chain capabilities, and enhance ecological governance will determine its competitive height in the broader context of Web3.
Related: SEC Chair Atkins calls for "cryptocurrency repatriation," urging companies to return to the U.S.
Original text: “Base Network Ecosystem Accelerates Rise: Social Tokens and Cross-Chain DeFi Drive New Growth”
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