The Base ecosystem comprises a diverse array of applications and integrations designed to enhance trading speed, optimize pricing, and elevate the overall user experience for financial products within the realm of crypto infrastructure. This ecosystem encompasses a range of offerings, including but not limited to 0x, Aave Protocol, Alchemy, Alien Base, Across Protocol, Amberdata, Ankr, Animoca Brands, and various others.
In this article we will take a closer look at the projects built on this ecosystem.
Unveiling Base – Coinbase’s Gateway to Web3 Adoption
In a significant stride towards reshaping the landscape of decentralized applications (dapps), Coinbase introduces Base, an Ethereum Layer 2 (L2) network, now available for exploration on its testnet. Designed as a secure, cost-effective, and developer-friendly platform, Base seeks to usher in the next billion users into the realm of web3. Envisioned as both a home for Coinbase’s onchain products and an open ecosystem welcoming developers worldwide, Base capitalizes on Coinbase’s decade-long expertise in crypto product development. By leveraging Ethereum’s security and scalability, empowering developers with seamless Coinbase product integrations, and committing to open-source principles, Base aims to revolutionize the cryptoeconomy.
Top projects built on Base
1. Embarking on Omnichain DeFi with Stargate
Stargate, a revolutionary liquidity transport protocol, anchors the Omnichain DeFi landscape, offering full composability at its core. This protocol empowers users and decentralized applications (dApps) to seamlessly transfer native assets cross-chain, tapping into Stargate’s unified liquidity pools with instantaneous and guaranteed finality. Through Stargate, liquidity providers not only add to the protocol’s Omnichain liquidity but also earn stablecoin rewards on each transfer. With farming options for LP tokens, Stargate community membership is enriched through STG token rewards. Further enhancing governance participation, STG holders can stake their tokens, unlocking veSTG with increased durations of staking. Stargate’s expansive integrations, active community, and user-friendly features make it a pivotal force in shaping the omnichain future of decentralized finance.
2. Uniswap: Pioneering Decentralized Trading Hub
Uniswap Protocol, a trailblazing decentralized crypto trading platform, leads the industry with an impressive $489 billion trade volume and 71 million all-time trades. Boasting 300+ integrations and a robust community of 4,400+ delegates, Uniswap fosters an open financial marketplace. The Uniswap Ecosystem thrives with diverse DeFi apps, encouraging participation from developers, traders, and liquidity providers. With a commitment to community governance, Uniswap Protocol empowers UNI token holders to steer its evolution, ensuring a decentralized and accessible future for crypto trading.
3. Chainlink: Decentralized Connectivity
Chainlink, the decentralized computing platform, redefines the crypto landscape with its verifiable web capabilities. With a colossal $9.5 trillion total transaction value enabled, Chainlink stands as the global standard, offering time-tested security through decentralized oracle networks. Seamlessly connecting diverse blockchains, Chainlink empowers developers with unparalleled documentation, tutorials, and workshops. Pioneering the future of DeFi, gaming, NFT collectibles, and more, Chainlink’s universal interoperability and commitment to cryptographic guarantees make it an industry leader.
4. The Graph: Unleashing Data Power
5. Aave’s Exciting Update: Introducing GHO Staking in Safety Module
Aave, the decentralized lending platform enabling users to earn interest on their cryptocurrency holdings, introduces a groundbreaking update. The community now rejoices as GHO staking is officially launched in the safety module within the proto_mainnet_v3 environment. Users are urged to connect their wallets to explore net worth, net APY, and manage their supplies, borrowings, and open positions. This move exemplifies Aave’s dedication to expanding its decentralized finance (DeFi) ecosystem, providing users with enhanced opportunities and functionalities. The GHO staking feature underscores Aave’s commitment to fostering a vibrant and participatory community.
6. Balancer Protocol: Pioneering DeFi Liquidity Evolution
Balancer Protocol, at the forefront of decentralized finance (DeFi), redefines liquidity with revolutionary features. With a total liquidity of $932.28 million and a 24-hour swap volume of $88.86 million, Balancer stands as a dynamic force in the DeFi landscape. This innovative platform, available on Ethereum Mainnet, Arbitrum, Gnosis, Avalanche, Base, Polygon PoS, and Polygon zkEVM, hosts 6.72k pools and engages 106.29k Liquidity Providers. Balancer V2’s thoughtful architecture and strategic collaborations, like the Boosted Pool integration with Aave, affirm its status as a hub for liquidity experimentation.
7. SushiSwap: Seamless Crypto Trading Revolution
SushiSwap, a leading decentralized exchange (DEX), offers instant trading for over 400 tokens without the need for registration. Boasting $365.96 million in total liquidity and $271.40 billion in total volume, SushiSwap stands as a prominent player in the decentralized finance (DeFi) space with 53.38k total pairs. Operating for 1248 days, SushiSwap emphasizes user autonomy with self-custody, allowing users to own their crypto like cash in their wallet. The platform also enables seamless asset movement across networks through xSwap and offers multiple avenues for users to earn passive income on their crypto holdings, fostering a vibrant community of developers and users alike.
8. Compound: Transformative Decentralized Finance (DeFi) Lending
Compound, a revolutionary DeFi lending protocol, provides a dynamic platform for users to borrow and lend various cryptocurrencies. With a market-driven interest rate model, users can earn interest on supplied assets or access liquidity by borrowing against their holdings. The protocol boasts diverse markets, including Ethereum, Polygon, Arbitrum, and Base, fostering a total borrowing and collateral value of millions. With robust security measures, Compound is a trusted protocol, audited and verified for safety. The user-friendly interface and institutional integration make Compound a pivotal player in decentralized finance, empowering users to manage and grow their crypto assets seamlessly.
Conclusion: Shaping the Future of Decentralized Finance
The Base ecosystem, anchored by Coinbase’s innovative Base Layer 2 network, serves as a thriving hub for pioneering projects reshaping the decentralized finance landscape. From Stargate’s Omnichain DeFi vision to Uniswap’s open financial marketplace and Chainlink’s decentralized connectivity, each project contributes to a vibrant ecosystem. Aave’s GHO staking, Balancer’s liquidity evolution, SushiSwap’s seamless trading, and Compound’s transformative lending further underscore the dynamic potential within Base. As these projects leverage Ethereum’s security and scalability, they collectively propel the crypto industry towards a future marked by accessibility, innovation, and user-centric financial experiences.
Princy Agarwal, a postgraduate in English from Delhi University, writes content for Tricky Finance, where they simplify complex financial topics for readers. With a knack for clear communication, Princy’s work helps make finance understandable and accessible to all.
