Base Grows Fast | Crypto Daily Digest Aug. 21

TI Research

Base, the new layer 2 built on top of the OP stack by Coinbase, has been growing fast in recent weeks

Base mainnet opened for builders on July 13th, and then launched for public on August 9th. Yesterday, the new layer 2 has already recorded more transactions than Arbitrum.

Base Records More Transactions than Arbitrum

Smart contracts deployed on Base grow rapidly, the daily number of new contracts deployed is at over 10K per day, a number that is mulitples of contracts deployed on Arbitrum and Optimism.

Base is also operating at a positive fee margin, meaning the L2 fees income is larger than the transactions batch cost that is needed when submiting to Ethereum mainnet. Base fee margin achieved an astonishing 80% daily fee margin during the initial period of the launching, but gradually declined to a level consistent with other major Layer 2 such as Arbitrum and Optimism at around 20%.

Base has also launched an Onchain Summer campaign to booststrap its activity.

Coinbase's Layer2 Network Base Live on Mainnet, Launches 'Onchain Summer' Campaign

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Base Records More Transactions than Arbitrum

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