Base becomes fastest L2 to reach 100k users: Decoding how
- Base became the fastest L2 to reach 100,000 users.
- The project is now looking to become fully decentralized with the help of Optimism.
Only 56 days after its official launch, Coinbase’s Base has become the fastest Ethereum [ETH] L2 to reach 100,000 users, according to data from Delphi Digital. This achievement is indicative of the growing demand for efficient and scalable solutions within the Ethereum ecosystem.
Realistic or not, here’s OP’s market cap in ETH’s terms
The new leader of the pack
But Base seems to stand out among the lot, especially as daily active users are measured by unique addresses.
Therefore, the milestone suggests that the project has eclipsed every other L2 in terms of crowd interaction on the blockchain. When compared to other L2s including Arbitrum [ARB], Polygon [MATIC], StarkNet, and Optimism [OP], Base was far ahead. But why has this been the case?
Well, there are a number of factors that influenced the landmark. However, the most surprising part has been the way Base did not launch a token but was still able to amass a great number of users.
First off, Base granting access to developers before the public Mainnet launch seemed to have been a game changer. Although the decision was not without an influx of rug pulls, early users were able to understand the working system of Base because of it. Furthermore, the rapid adoption could also be linked to the integration of several protocols on the network.
For instance, projects like Aave [AAVE], and Uniswap [UNI] have been deployed on Base. So, it was only expected that users of the aforementioned project would become active participants on the Base network.
Base wants to help OP out
Despite this landmark, it seemed that Coinbase was not ready to rest on its oars. In a newly released update, Base disclosed that it was working on collaborating with Optimism’s OP Stack to fully decentralize Base.
The L2 further explained it was committed to seeing Optimism’ SuperChain come to life. So, its input would be required through the “The Law of Chains.”
For context, the Law of Chains is an open neutrality framework that establishes certain protections for participants in the Optimism Superchain ecosystem.
How much are 1,10,100 OPs worth today?
The purpose of the SuperChain is to promote core principles of decentralization, and economic autonomy as foundations for the developing Superchain. In connection to the development, Base noted that,
“Base is committed to decentralizing Base and strengthening the OP Stack through technical improvements, commitment to the Law of Chains neutrality framework, and contributing back to public goods. These initiatives will not only strengthen Base, but the foundation on which the Superchain and the global, open, onchain economy can be built.”