Base DeFi TVL Surpasses $5 Billion, Marking New Milestone

The Coinbase-incubated Ethereum Layer-2 network Base has exceeded $5 billion in total value locked (TVL) across its DeFi ecosystem, according to data shared by base on Aug. 20.

The milestone comes just over a week after Base celebrated its third anniversary, at which point it reported nearly $5 billion in TVL. The new figure, captured in a graphic posted by the official Base account, shows TVL of $5.037 billion — a clear breakthrough of the $5 billion threshold.

Base is an Ethereum Layer-2 network built on the OP Stack and led by Jesse Pollak. It has no native token, with transactions paid in ETH, though the project has indicated it is exploring a network token. The network has seen rapid DeFi growth, with protocols such as Morpho crossing $5 billion in deposits on Base earlier in August.

The $5 billion TVL mark reinforces Base's position as a leading Layer-2 ecosystem, driven by low fees and a growing suite of consumer and DeFi applications.