Coinbase’s layer-2 network, Base, was introduced on the Ethereum mainnet about two weeks ago. Since that time, decentralized apps have shown an eager interest in deploying their offerings on the network.
This rapid uptake might be attributed to Base’s immediate success; on the day of its launch, the network reported over $150 million in total value bridged (TVB).
That figure has since ballooned to more than $261 million, per a Dune Analytics dashboard. This far surpasses the TVB of Mantle and Linea, layer-2s that launched within weeks of Base.
More than 100 dapps were integrated with Base at launch in an attempt to take advantage of the early hype.
Chainlink, for example, was brought on as a partner to provide price feeds for the new layer-2. Additionally, about a dozen wallets have integrated, including Coinbase Wallet, Rainbow Wallet, Trust Wallet and Safe.
Here are some other notable participants in the Base network.
1inch
The most recent entrant was 1inch, a decentralized exchange (DEX) aggregator, which deployed on Base Thursday at 10 am ET.
Specifically, the 1inch Aggregation Protocol and the 1inch Limit Order Protocol are now available on Base, according to the company’s thread on X.
Uniswap v3, Balancer v2, and SushiSwap v3 are just some of the dozen plus protocols that users will have access to on Base through 1inch.
“Base is a very promising layer-2 solution, plus it’s incubated by such a major player,” 1inch co-founder Sergej Kunz said in a statement shared with Blockworks.
The company noted that an added benefit of the integration was that 1inch could now be in a position to benefit from “Coinbase product integrations and easy fiat onramps.”
Separately, Matcha is another DEX aggregator that recently launched on Base.
Friend.tech
This decentralized platform that has friends frantically buying and selling “keys,” previously described as “shares,” of one another’s social media pages is another dapp that’s native to Base.
Friend.tech, which has garnered 100,000 users as of last count, launched on Base on Aug. 10.
The platform, described as an on-chain social app, saw its revenue peak at over $840,000 on Aug. 20.
In the last few days, the amount it has collected through fees has steadily declined to where on Aug. 22, just two days after reaching an all time high, revenue dipped to just over $161,000, according to DeFiLlama.
But for people using Friend.tech, accountants have told Blockworks that by trading “keys,” taxable events are created.
They added that anyone trading on Friend.tech should keep records of their transactions close, and report them at the end of the tax year.
Arkham Intelligence
Arkham Intelligence announced Tuesday that a core group of its services is now supported on Base.
Arkham users can now see “a complete token portfolio of your wallets on Base,” and “visualize transactions on Base from any cluster of accounts.”
The company’s pitch also mentioned that users can now track influencers on Friend.tech through its native platform.
Arkham got loads of media attention in early July for its bounty-based marketplace for on-chain intelligence. The marketplace certainly received praise, but the criticism ended up being much louder and more prominent.
Many people circulated concerns about “on-chain doxxing,” since sleuths are paid for, among other things, exposing info about particular wallet addresses.
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Source: https://blockworks.co/news/base-dapp-layer-2