Base ecosystem in 3D
Base, the Layer 2 network built by Coinbase, as a space station: the four biggest apps of each type are satellites docked to it, sized by the money they hold.
- DeFi TVL
- $5.86B
- ETH
- $2,255.54
- Stablecoins
- $5.07B
The 3D view needs WebGL, which your browser doesn't support. The figures below still work.
DeFi deposits over time
Peak: $6.47B in Oct 2026. Today: $5.86B.
Main protocols on Base
The 39 apps with at least $10M on Base. Deposits on Base only; 7-day change shown for apps that run only on Base.
| # | Protocol | Type | TVL on Base | 7 days |
|---|---|---|---|---|
| 1 | Lending | $4.31B | — | |
| 2 | Risk Curators | $1.37B | — | |
| 3 | Risk Curators | $511.9M | — | |
| 4 | Lending | $499.4M | — | |
| 5 | Yield vaults | $495.7M | — | |
| 6 | Yield vaults | $446.0M | — | |
| 7 | DEXs | $303.2M | — | |
| 8 | DEXs | $96.7M | — | |
| 9 | DEXs | $94.8M | -23.9% | |
| 10 | DEXs | $89.7M | — | |
| 11 | DEXs | $86.0M | — | |
| 12 | Yield vaults | $80.6M | — | |
| 13 | Bridge | $66.6M | — | |
| 14 | Risk Curators | $65.1M | — | |
| 15 | Bridge | $62.3M | — | |
| 16 | DEXs | $58.6M | -22.0% | |
| 17 | DEXs | $57.8M | — | |
| 18 |  IPOR Fusion | Yield vaults | $48.4M | — |
| 19 | Bridge | $39.3M | — | |
| 20 | Basis Trading | $30.4M | — | |
| 21 | Yield Aggregator | $24.7M | — | |
| 22 | RWA | $23.0M | 0.0% | |
| 23 | Lending | $23.0M | — | |
| 24 | DEXs | $19.7M | — | |
| 25 | Yield Aggregator | $18.5M | — | |
| 26 | Lending | $17.9M | — | |
| 27 | Yield Aggregator | $16.7M | — | |
| 28 | RWA | $16.6M | — | |
| 29 | Risk Curators | $16.6M | -2.5% | |
| 30 | Risk Curators | $16.6M | — | |
| 31 | Launchpad | $16.0M | -7.3% | |
| 32 | Indexes | $15.9M | — | |
| 33 | Liquidity Manager | $13.9M | — | |
| 34 | Yield Aggregator | $13.2M | — | |
| 35 | Basis Trading | $13.0M | — | |
| 36 | Lending | $12.6M | — | |
| 37 | Lending | $12.3M | — | |
| 38 | Basis Trading | $10.5M | — | |
| 39 | Derivatives | $10.3M | -8.4% |
Where the money sits
DeFi deposits by type of app, for the apps above. These can add up to more than the headline TVL because some money is counted twice — for example, a staked token that is then deposited in a lending app.
Top exchanges by volume
Trading volume on Base's DEXs in the last 24 hours.
How the pieces connect
A typical path money takes through Base DeFi. Each step uses what the previous one produced.
- 1
On-ramp
Buy USDC or ETH on Coinbase and move it to Base for a fraction of a cent.
CoinbaseBase App - 2
Lend
Deposit into lending markets, often through vaults run by professional risk managers.
MorphoAaveSteakhouseGauntlet - 3
Trade
Swap tokens or provide liquidity on Base’s exchanges.
AerodromeUniswap - 4
Earn
Yield vaults spread deposits across apps to earn more on stablecoins.
SparkGroveYO
Underneath it all: USDC, Circle's stablecoin, which Coinbase helped create.
Beyond DeFi
Base App
Coinbase's wallet and social app for Base, formerly Coinbase Wallet.
x402
A way for apps and AI agents to pay each other in stablecoins; over 138 million payments on Base.
Tokenized stocks
Coinbase has issued tokens for US stocks on Base since August 2026.
Base MCP
Connects crypto wallets to AI assistants such as ChatGPT and Claude.
Basenames
Readable names such as alice.base.eth instead of long wallet addresses.
USDC
The main dollar stablecoin on Base, issued by Circle.
Cobalt
Base’s 2026 upgrade on its own technology, moving away from the Optimism stack.
Coinbase
Millions of Coinbase customers can send money to Base directly from the exchange.
Best stablecoin yields
Pools with more than $2M deposited. Rewards are paid in tokens and can change daily.
| Protocol | Pool | APY | Deposits |
|---|---|---|---|
| Veranta | USDC | 26.5% | $9.8M |
| Morpho Blue | NOONECOUSDC | 11.4% | $3.3M |
| ZEROBASE CeDeFi | USDC | 9.0% | $10.5M |
| AUTOfinance | USDC | 8.4% | $3.0M |
| Morpho Blue | CSCBUSDC | 7.9% | $32.5M |
| Aave V3 | USDC | 7.8% | $7.6M |
| Midas RWA | USDC | 7.5% | $111.1M |
| Morpho Blue | GTUSDCF | 7.0% | $4.8M |
| IPOR Fusion | USDC | 6.9% | $3.1M |
| Morpho Blue | BBQUSDC | 6.9% | $28.1M |
Not financial advice. Higher yields usually mean higher risk.
No Base token (yet)
Base has no token of its own. Fees are paid in ETH, and Coinbase runs the sequencer, which orders transactions and earns the fees.
- Gas token
- ETH
- Operator
- Coinbase
- Settles on
- Ethereum
- Own token
- Explored, not launched
In September 2025 Base said it was exploring a network token, with no definite plans. No launch has been announced since.
Key moments
- Feb 2023Coinbase announces Base, built on the Optimism stack.
- Aug 2023Base opens to the public.
- Mar 2024Ethereum's Dencun upgrade makes Base fees much cheaper.
- Jan 2025Coinbase offers Bitcoin-backed loans through Morpho on Base.
- Jul 2025Coinbase Wallet becomes the Base App.
- Aug 2025Base stops producing blocks for about half an hour.
- Sep 2025Base says it is exploring a network token.
- Feb 2026Base starts moving to its own technology, away from the Optimism stack.
- Jun 2026A two-hour outage stops the network.
- Aug 2026Coinbase launches tokenized US stocks on Base.
- Oct 2026Over 138 million x402 payments recorded on Base.
Base vs. Arbitrum vs. Optimism
This dashboard is for information only and is not financial advice. Figures from third-party sources may be delayed or revised.