Base Blockchain by Coinbase: A Complete Guide

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The world’s second-largest cryptocurrency exchange, Coinbase, has launched its own Layer 2 (L2) blockchain called Base—and it’s already amassed over **$200 million in total value locked (TVL)**. Built in collaboration with **Optimism**, Base is an **EVM-compatible optimistic rollup** designed to scale Ethereum with low fees and seamless developer onboarding. This guide covers everything from its core technology and ecosystem to key dApps like **friend.tech**, NFT trends, and even the infamous $BALD memecoin saga.

Whether you're a developer, DeFi user, or crypto enthusiast, here’s what you need to know about Base in 2025.

What Is Base?

Base is a Layer 2 blockchain developed by Coinbase using the Optimism OP Stack. It’s an optimistic rollup, meaning it processes transactions off Ethereum’s mainnet but posts compressed data back to it, ensuring security while drastically reducing gas costs—typically between $0.10 and $0.20 per transaction.

Launched publicly on August 9, 2023, Base quickly gained traction, processing over 9.5 million transactions and reaching $200 million in DeFi TVL by mid-August. Today, it ranks among the top L2s on L2Beat, trailing only Arbitrum, Optimism, zkSync Era, and dYdX.

👉 Discover how Base compares to other L2s and why developers are flocking to it.

Key Advantages for Developers

Base isn’t just another L2—it’s a strategic move by Coinbase to bring mainstream users into onchain activity through a scalable, secure, and user-friendly network.

The Optimism Superchain Vision

Base is part of a larger vision: the Optimism Superchain—a network of interoperable Layer 2 blockchains all built using the open-source OP Stack.

What Is the OP Stack?

The OP Stack is a modular suite of software components that power Optimism and any chain built on it—including Base. It includes:

By making this stack open-source, Optimism enables anyone to launch their own L2 with minimal friction. Think of it like a blockchain development kit.

The Superchain Roadmap

The goal? A multichain ecosystem where:

Optimism Mainnet acts as the hub, while chains like Base serve as spokes—similar to Cosmos Hub and its zones. In the future, dApps may even launch their own chains (e.g., Uniswap Chain), creating an internet of blockchains.

This shared infrastructure positions Base not as a standalone chain, but as a key node in a growing decentralized web ecosystem.

Base Technology Overview

EVM Compatibility & Developer Tools

Building on Base is nearly identical to building on Ethereum. It supports:

ERC-20 tokens can be deployed on Base and bridged via the official bridge (subject to approval). This makes migration simple for existing projects.

Transaction Fees

Base fees consist of two parts:

  1. Execution fee – Paid to Base for processing the transaction
  2. L1 data fee – Paid to Ethereum for storing transaction data

Overall, transactions are ~10x cheaper than Ethereum mainnet. A portion of these fees flows back to the Optimism Collective, supporting public goods funding via retroactive rewards.

Centralization Concerns

Currently, Base operates with a single sequencer node controlled by Coinbase, raising decentralization concerns. However:

While not fully decentralized today, Base is moving toward greater autonomy within the Superchain framework.

EIP-4844: The Future of Low-Cost Scaling

Base, alongside Optimism and the Ethereum Foundation, is actively preparing for EIP-4844 (Proto-Danksharding)—a major Ethereum upgrade expected in late 2025.

This introduces "blob transactions", which reduce rollup data costs by up to 90%, potentially slashing fees to pennies per transaction. Once implemented, Base will become even more scalable and cost-efficient.

How to Use Base: Step-by-Step Guide

1. Add Base to MetaMask

To interact with Base, first add it to your wallet:

  1. Open MetaMask → Click network dropdown → "Add Network"

  2. Select "Add Network Manually" and enter:

    • Network Name: Base Mainnet
    • RPC URL: https://mainnet.base.org
    • Chain ID: 8453
    • Currency Symbol: ETH
    • Block Explorer: https://basescan.org

Coinbase Wallet users have Base enabled by default.

2. Bridge ETH to Base

Use one of these trusted bridges:

👉 Learn how to bridge assets safely and start earning yield on Base.

⚠️ Warning: You need ETH on Base to pay gas fees. Use the official bridge first if your wallet is empty.

3. Swap Tokens on DEXs

Popular decentralized exchanges on Base include:

Native tokens like USDbC, BSWAP, and ALB are emerging alongside established assets like ETH and USDC.

Explore the Base Ecosystem

DeFi Opportunities

Yield Farming

Protocols like BaseSwap, AlienBase, and SwapBased offer farms with APRs up to 500% for pools with smaller tokens.

Lending & Borrowing

Use platforms like:

Yield Aggregators

Beefy Finance offers auto-compounding vaults that maximize returns from multiple AMMs.

NFTs on Base

OpenSea supports Base, hosting over 40 NFT collections, including:

The term “based” in crypto slang means “authentic” or “bold”—making it a perfect fit for meme culture.

On-Chain Summer Initiative

Base launched On-Chain Summer, featuring daily NFT mints with brands like:

These collaborations blur the line between Web2 and Web3, attracting mainstream attention.

Web3 Domains: .base Names

Masa Finance lets users mint .base domain names starting at just $1 (for 5+ characters). These domains:

SocialFi Breakout: friend.tech

The most viral app on Base is friend.tech, a SocialFi platform where users buy “shares” in influencers’ social tokens.

Top figures like Hsaka, Cobie, and Gainzy have issued shares. Holding shares grants access to:

Each trade generates revenue for the influencer. As of August 2023, the platform hit $20M+ in trading volume, showcasing the potential of tokenized social capital.

The $BALD Memecoin Rally & Rug Pull

In July 2023, before public launch, a memecoin called $BALD exploded—only to collapse in a classic rug pull.

Timeline:

The Collapse

On July 31, the developer withdrew $25M in liquidity, causing the price to crash over 90%. This was a textbook rug pull.

Rumors linked the wallet to Sam Bankman-Fried due to past FTX transactions and linguistic patterns—but on-chain investigator @zachxbt traced it to known DeFi speculator @milkyway16eth.

Since then, numerous memecoins like $PONZI, $MEMES, and $BALD2.0 have followed similar patterns—proving that speculation cycles remain unchanged across chains.

Frequently Asked Questions (FAQ)

Is there a BASE token?

No. Base uses ETH as its gas currency, and Coinbase has confirmed there are no plans to launch a native token. Any offer to buy “BASE tokens” is a scam.

Can I earn yield on Base?

Yes. You can farm on AMMs like BaseSwap (up to 500% APR), lend on Compound, or use yield aggregators like Beefy Finance.

How do I get started with NFTs on Base?

Connect your wallet to OpenSea or participate in daily mints via the On-Chain Summer program.

Is Base fully decentralized?

Not yet. It currently relies on a single sequencer run by Coinbase. However, a shared decentralization roadmap with Optimism aims to achieve full decentralization by 2025.

Why is friend.tech so popular?

It combines social media influence with tokenomics—letting fans invest in creators they follow while gaining exclusive access. It’s a new model for creator monetization.

How does Base compare to Arbitrum or Optimism?

All three are optimistic rollups. Base benefits from Coinbase’s user base and integrations, while Arbitrum leads in TVL and developer adoption. Over time, interoperability via the Superchain will reduce differences.

Final Thoughts: The Future of Base

Base represents more than just another L2—it’s a bridge between centralized finance and decentralized innovation. With support from Coinbase’s infrastructure and its role in the Optimism Superchain, Base is poised for long-term growth.

From DeFi and NFTs to SocialFi and brand partnerships, the ecosystem is vibrant—and still early.

👉 Start exploring Base today and see how it fits into your crypto journey.