The Layer-2 (L2) blockchain developed by Base, Coinbase, transitioned from Stage 0 to Stage 1 rollup, effectively overtaking Arbitrum (ARB) as the largest Ethereum scaling solution.
The stage refers to a framework for assessing the maturity of an L2 rollup based on the milestones proposed by Ethereum co-founder Vitalik Buterin.
The base will be the largest ethryum L2, followed by arbitrum
L2Beat data shows that Arbitrum One is no longer the biggest optimistic rollup on Ethereum. L2Beat is an analysis and research website focused on Ethereum Layer-2 scaling.
After a $557 million surge in TVL (the total is locked), the base has overtaken the arbitrum L2, with a total of over $710 million margin (TVS).
Ethereum L2 rollup. Source: L2Beat
In addition to overtaking the Arbitrum One, the base is also matured from stage 0, with the rollup being fully controlled by the operator (full training wheel).
Currently, it’s a stage 1 rollup with smart contract governance. However, this stage features a “limited training wheel” as the Security Council is in place to deal with potential bugs.
“I’m proud that Bass is now Stage 1 and #1 on TV is #1, but it’s still the first day. It’s time to bring the world on-chain,” writes bass creator Jesse Pollack.
This comment is in line with Base’s vision to expand the ecosystem of on-chain creators and promote virality and creativity.
Meanwhile, the base is inside the stage 1 rollup, effectively escaped the list of Vitalik Buterin in L2, which is destined to fail. In September, Buterin began breaking down on the L2 network picklist unless it progressed.
“Welcome to Full-Aite Stage 1 Gang Base,” Buterin said.
Ethereum executives said they only recognize L2 networks reaching stage 1+ maturity. Buterin mentioned his threshold for measuring different stages of L2 based on the decentralization scale.
“Stage 1 (the 75% council threshold must be outside the roll-up team to override the certification system) is a very reasonable medium milestone.
This ultimatum coincided with Buterin’s vision to advance trust in encryption. Recently, Buterin proposed plans to expand Ethereum’s L1 and L2 protocols in 2025.
Beincrypto reported that it cited the L2 alignment to encouragement with the Ethereum ecosystem, including burning public goods, staking and financing.
This is the first time a base has overtaken arbitrum, but not the first time it has challenged a market position. In hindsight, Base TVL exceeded $2 billion in September after a 400% growth.
Aerodrome remains the main protocol for base L2. TVL up to $830 million, up 5% last week. Other major protocols on the base include Morpho, Aave, and Uniswap.
Base L2 protocol. Source: Defilama
Once the bass is leading, it is impossible to forget the heels of Arbitrum’s Achilles. The network is still digging out of 80% crashes. Key interventions to recover include token buybacks and bids for the recently denied Nvidia Accelerator Program.
Performance at the arbitrator (Q) price. Source: beinctypto
Beincrypto data shows that Arbitrum’s ARB price has risen by 2% in the last 24 hours. At the time of writing it was trading at $0.33.