#On-Chain Activity

As of August 25, 2023, DeFi Pulse reports that Coinbase's primary network boasts a Total Value Locked (TVL) of $12.4 billion, securing its position as the fourth-largest layer 1 platform in terms of TVL, trailing behind Ethereum, Solana, and Binance Smart Chain. The TVL for Coinbase's network has surged by 240% since the start of the year, propelled by the introduction of new features such as an NFT marketplace, decentralized exchange, and lending platform.

Various factors, including the quantity and caliber of decentralized applications (dApps), incentives for validators and delegators, network security and scalability, and market dynamics, can impact TVL. A substantial TVL signifies the platform's appeal, competitiveness, and value within the blockchain realm.

Looking ahead, Base may potentially introduce a native token for purposes such as staking, governance, and fee payments. This would enable BASE holders to delegate their tokens to validators responsible for validating transactions and generating blocks. While validators receive rewards for their services, they also face penalties for misbehavior or downtime. Show Less

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