As of recent reports, Base has become a major player in the decentralized finance (DeFi) space, with the total value of assets locked in its protocols reaching approximately $2.28 billion. This milestone highlights the growing influence of Base network. It also shows its rising importance in the DeFi ecosystem. According to data from DefiLlama, several protocols on Base have seen significance growth in their Total Value Locked (TVL).
Top Base Protocols by Total Value LockedThe total value of assets locked in @base is around $2.28B, according to @DefiLlama. Let’s compare the top protocols on #Base by current TVL in USD, including @AerodromeFi, @Uniswap, @ExtraFi_io, @aave, @MorphoLabs, @MoonwellDeFi,… pic.twitter.com/2dyPPdeWhC
— TOP 7 ICO | #StandWithUkraine (@top7ico) October 9, 2024
AerodromeFi Leads Base with $1.2B TVL, Solidifying DeFi Dominance
The largest protocol by TVL on Base is AerodromeFi (AERO) with a TVL of $1.2 billion. This figure shows that this platform has a leading position and people’s confidence in Base, which makes it the most significant DeFi project.
After AerodromeFi, the second one on the list is Uniswap (UNI) with the TVL of $222 million. Pioneering in decentralised exchange services, Uniswap remains an important part of Base’s DeFi stack, as it provides the liquidity and enables token exchange for the users.
Other major protocols on Base are Extra Finance (EXTRA) with a total value locked of $142 million and AAVE with $113 million. AAVE is a prominent lending protocol and, thus, contributes to the development of borrowing and lending platforms on Base.
On the other hand, Morpho Blue (MORPHO) has $103 million in TVL, and provides solutions to enhance the lending process. Another major participant on Base is Moonwell (WELL) with $89.5 million in TVL.
Base Network Attracts DeFi Growth: Beefy, OETH, and Anzen Reach Millions in TVL
Other protocols include Beefy Finance (BIFI) with $78.8 million, Origin Ether (OETH) with $65.7 million, Overnight Finance with $62.7 million. Anzen (USDZ) that is a stablecoin platform is the last in the list with the TVL of $ 55.3 million.
These numbers, reported by DefiLlama, highlight not only how rapidly but also how extensively the Base network has expanded, showcasing its growing presence within the DeFi space. The network has successfully attracted a wide range of DeFi protocols, further solidifying its standing. With billions of assets still locked on the platform, Base continues to build up its reputation as a robust layer-2 solution, gaining recognition and trust within the broader DeFi ecosystem.
