Base, the Ethereum layer 2 built by Coinbase, is set to undergo its most significant architectural shift since its launch, transitioning to a unified, in-house stack. This move, which will enable faster upgrades and greater control over its technical roadmap, marks a pivotal moment for the network, which has seen its fair share of ups and downs over the past three years.
The Rise of Base
Base first entered the crypto scene in 2023, aiming to onboard 1 billion users to the blockchain ecosystem. The network’s mainnet opened to builders in July 2023, followed by users in August. Within the first week, Base attracted 700,000 new users, bringing in about $242 million in inflows. The summer of 2023 was dubbed “Onchain Summer,” with Friend.tech as the star attraction.
Friend.tech: A SocialFi Sensation
Friend.tech, a social app that allowed users to buy and sell access to their connections, quickly became the talk of Crypto Twitter. Celebrities and influencers flocked to the platform, generating over $1 million in daily fees within two weeks, briefly surpassing Bitcoin. However, the hype was short-lived, and by the end of August, the platform’s activity had plummeted.
Memecoins and Mainstream Attention
In late 2023, Base experienced a memecoin boom, drawing in public figures and generating significant media attention. This trend, which saw more than 380,000 ERC-20 tokens deployed on Base in March 2024, brought fresh liquidity to the network’s DeFi ecosystem. By June 2024, Base had overtaken Ethereum in terms of active addresses, a lead it held until December 2025.
The AI Revolution on Base
The latter half of 2024 saw the rise of AI agents in crypto, with Base becoming a key player in this space. Developers launched autonomous trading bots and social accounts, creating a new frontier for onchain interactions. Coinbase’s “Based Agents” toolkit, introduced in October 2024, allowed users to build AI agents equipped with crypto wallets. Virtuals Protocol, a Base-native project, enabled users to create agents tied to tokens and onchain addresses, with one such agent, Luna, autonomously executing onchain tips.
The Second Wave of SocialFi
In 2025, Base saw a resurgence in SocialFi, driven by deeper integration with Coinbase’s consumer ecosystem. The rebranding of Coinbase’s wallet as the Base App in July 2025 made Base the default execution layer within its wallet ecosystem. Farcaster, a decentralized social network, and Zora, a platform for creators to mint and distribute tokenized content, became central to this phase, contributing to significant spikes in Base transactions and token launches.
Becoming Ethereum’s Top Layer 2
Throughout its journey, Base has leveraged emerging trends like memecoins and AI agents to build a robust user base and distribution network. Today, it leads the Ethereum layer-2 landscape in users, transactions, fees, and total value locked. As the network transitions to a unified stack, the focus shifts from rapid growth to solidifying its foundation. Whether this move cements Base’s lead or marks the end of its first growth era will be a key factor in its future success, especially as Ethereum’s focus shifts back to scaling its main chain.
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