The Base Blockchain is not just growing; it’s thriving, with its total value locked (TVL) soaring from $430 million in January to $1.63 billion in April, positioning it as the sixth-largest blockchain in terms of TVL.
This remarkable growth has propelled Base ahead of established players like Avalanche, Fantom, and Optimism. Even more impressively, in terms of active addresses, Base ranks just behind Ethereum, showcasing its widespread acceptance and utility.
This article goes into the unique and widely used protocols on Base, highlighting how they contribute to this thriving ecosystem.
1. Aerodrome Finance
Overview: Aerodrome Finance stands out as a next-generation automated market maker (AMM) positioned to be the central liquidity hub on Base Blockchain. With its advanced liquidity incentive engine and vote-lock governance model, Aerodrome offers a user-friendly experience while incorporating the latest features from Velodrome V2 (Optimism).
Unique Feature: Aerodrome distinguishes itself with a unique governance system where NFTs vote to distribute token emissions and collect fees generated by the protocol, integrating financial incentives with participatory governance.
Aerodrome TVL is $745.72m as of April 2024.
Website: Aerodrome Finance
2. Friend.Tech
Overview: Friend.Tech is redefining social networking by integrating the principles of decentralized finance with social media. This platform allows users to monetize their online presence by selling “keys” to exclusive content, blending traditional social interactions with blockchain-powered economic activities.
Unique feature: It fosters a novel approach to content monetization and access, providing a decentralized and financialized social network.
Friend.Tech TVL is currently sitting at $34.74m. As it’s not a DeFi Protocol, Daily Active Users is a more accurate data to look at the success of a SocialFi. Friend.Tech has around 4500 DAU.
Website: Friend.Tech
3. WDYM
Overview: WDYM is a social platform on the Base chain meshing popular culture with blockchain technology. WDYM allows you to claim a .WTF handle, and by genuinely participating in daily activity, or running a node, you can get points to receive an airdrop at a future stage.
Unique feature: A specialized platform that leverages the viral nature of memes, integrating them into the Web3 framework.
Website: WDYM
4. FrenPet
Overview: FrenPet introduces a competitive and interactive pet-raising game where users nurture pets and engage in PvP battles, PvE and blending companionship with competition.
Unique feature: It emphasizes gamified interactions through pet competitions, offering a unique blend of care and combat in a blockchain environment. Frenpet has an average of 2k Daily Active Users.
Website: FrenPet
5. BaseSwap
Overview: BaseSwap is the 2nd decentralized exchange on Base, it accounts for $5.67m in total value locked (TVL).
Unique features: The First Native DEX on BASE, 2 playable games, NFT Marketplace, and a perpetuals exchange based on Unidex.
Website: BaseSwap
6. SwapBased
Overview: As an automated liquidity protocol, SwapBased removes intermediaries and emphasizes a secure, decentralized trading experience. SwapBased has 5m$ in TVL (April 2024)
Unique feature: It operates through non-upgradeable smart contracts, ensuring enduring security and trustlessness in liquidity transactions. Launchpad, Lottery.
Website: SwapBased
7. BasePaint
Overview: BasePaint offers a collaborative digital canvas where artists can create, share, and earn from their artworks, promoting real-time collaboration and monetization.
The community makes art for 24 hours.
After which, the canvas locks, and an open edition NFT of the artwork is available to mint for 24 hours. 90% of the profits of the OE are distributed to the artists proportional to the number of pixels they painted. 10% goes to the protocol.
Unique feature: Artists participate in collective creativity that culminates in shared financial rewards, democratizing the art creation and sales process.
Website: BasePaint
8. Alienbase
Overview: Alienbase serves as a Base-native decentralized exchange (DEX) with a playful, self-aware tone aimed at engaging the more adventurous segments of the crypto community.
Unique feature: Alienbase offers a Token generator.
Area51 is Alien Base’s Sub DEX designed for new tokens carrying higher risk than the usual assets listed on Alien Base.
Website: Alienbase
As the Base ecosystem continues to evolve, it’s clear that innovative DApps like Aerodrome are not just participants but are also driving significant growth. With nearly $800 million of Base’s TVL tied up in these unique applications, the potential for further innovation is vast. Watching which DApp breaks new ground beyond the conventional DeFi landscape could indicate what the next killer app for the Base Blockchain might be.
