The Base blockchain, an Ethereum Layer 2 solution incubated by Coinbase, has rapidly emerged as a leading player in the scaling ecosystem. According to data from DefiLlama, Base’s Total Value Locked (TVL) has reached $2.3 billion, surpassing other major Layer 2 networks like Arbitrum, Optimism, and Blast.
Fueled by the explosive growth and cultural spread of meme coins, the number of on-chain addresses on Base skyrocketed from just over 20 million in August to more than 70 million. Its monthly revenue also saw a dramatic climb, rising from just over $1 million in March to $76 million by November—representing an average monthly growth rate exceeding 40%.
Many are curious how Base achieved such rapid growth amidst a broader slowdown in the Ethereum ecosystem. Furthermore, how can everyday users tap into the opportunities presented by this vibrant network? This guide breaks down the key factors behind Base’s rise and offers practical ways to get involved.
What’s Driving Growth on the Base Network?
Three major factors have contributed to Base’s success: extremely low gas fees, strong backing from Coinbase, and the powerful cultural influence of meme coins.
Low Transaction Costs
In March 2024, Ethereum completed the Dencun upgrade, which included the implementation of EIP-4844. This upgrade drastically reduced transfer fees on Base from between $0.10–$0.30 to approximately $0.01. This reduction in cost has made transactions significantly more economical, offering users a highly efficient and affordable experience—especially when compared to the Ethereum mainnet.
Support from Coinbase
As the largest cryptocurrency exchange in the United States, Coinbase has provided comprehensive support for Base. Through partnerships with companies like Stripe, Coinbase integrated USDC on Base, enabling faster and cheaper cross-border payments through its payment and wallet systems. Additionally, projects within the Coinbase ecosystem—such as Farcaster, created by former executives, and Aerodrome, a project backed by Coinbase investments—have further enriched the Base network.
The Meme Coin Phenomenon
Since the meme coin trend took off in late 2023, the number of meme projects on Base has exploded. Popular tokens like TYBG, Degen, and Brett have drawn significant attention and traffic, bringing considerable energy and visibility to the Base ecosystem.
How Can Everyday Users Participate in the Base Ecosystem?
Although Base itself does not have a governance token, there are still several ways for users to get involved and benefit from its growing ecosystem.
Staking ETH
Users can bridge ETH to Base and participate in staking through various protocols. Many projects on Base offer ETH staking opportunities with yields that often exceed those available in traditional DeFi markets. Combined with low gas fees and a user-friendly experience, staking on Base is both accessible and efficient.
Engaging with Meme Coins
Base has developed a strong meme coin culture, making it an ideal platform for users looking to explore this side of the crypto world. By participating in early or trending meme projects, users can potentially earn returns—though timing and careful selection are important.
Creating Your Own Token
For those with bigger ideas, Base is an ideal platform for token creation. Its low deployment costs, large user base, and affordable transaction fees make it a top choice for newcomers looking to enter the Web3 space.
How to Quickly Create a Token on Base
You might be wondering how to create a token if you don’t have a background in coding or smart contract development. While building a token from scratch does require technical knowledge, several user-friendly platforms now allow anyone to create a token with just a few clicks.
For example, multi-chain Web3 toolkits enable users to deploy a token on Base seamlessly. By entering a few basic parameters, you can create your own meme coin or utility token in minutes.
Here’s a typical step-by-step process for creating a token on Base:
- Visit a Base chain token creation tool.
- Connect your Web3 wallet (such as MetaMask).
- Enter token parameters (name, symbol, total supply, etc.).
- Click to create the smart contract.
- Confirm the transaction and pay the associated ETH fee.
- Wait for the contract to deploy.
- Add the new token to your wallet using its contract address.
As you can see, if you’re already familiar with basic wallet operations, this process is very straightforward. For those coming from a traditional internet background, creating a token on Base can be an affordable and educational introduction to Web3 and smart contract interaction.
It’s worth noting that some toolkits support not only Base but also other major blockchains like Solana, Ethereum, Sui, and TRON, making them a versatile choice for beginners. 👉 Explore user-friendly token creation tools
Frequently Asked Questions
What is the Base blockchain?
Base is an Ethereum Layer 2 scaling solution developed by Coinbase. It is designed to offer faster and cheaper transactions while maintaining the security and decentralization of the Ethereum mainnet.
Do I need technical knowledge to create a token on Base?
No, you don’t need advanced technical skills. With intuitive token launch platforms, you can create a token by simply filling in a few parameters and confirming a transaction with your wallet.
What are the costs involved in deploying a token on Base?
The main cost is the gas fee required to deploy the smart contract. Thanks to low fees on Base, this cost is typically very affordable, especially when compared to the Ethereum mainnet.
Can I create a token on other blockchains using the same tools?
Many multi-chain toolkits support token deployment on several major networks, including Base, Solana, and Ethereum, allowing you to choose the best blockchain for your needs.
Is creating a meme coin on Base considered a good investment?
Creating or investing in meme coins is highly speculative and carries significant risk. It’s important to conduct thorough research and understand that many such projects may not sustain long-term value.
How do I stay safe when using token creation tools?
Always use well-known and reputable platforms, double-check all transaction details before confirming, and never share your private keys or seed phrases with anyone.
Final Thoughts
Thanks to strong institutional support from Coinbase, minimal transaction fees, and the viral nature of meme culture, Base has established itself as one of the most dynamic Layer 2 solutions in the Ethereum ecosystem. With accessible tooling, everyday users can now easily participate in this growing network—whether through staking, trading, or even creating their own tokens. For those new to Web3, Base offers a low-barrier entry point to explore and engage with the world of decentralized applications and digital assets.