📚 The Scholar's Assessment

Base represents Coinbase's strategic entry into Layer 2 infrastructure, built on Optimism's OP Stack for proven security and performance. With no native token, users pay gas fees in ETH while benefiting from institutional-grade infrastructure and compliance. The network has rapidly grown to ~$2B+ TVL, attracting both DeFi protocols and consumer applications. Base's success directly benefits Coinbase shareholders through increased transaction volume and ecosystem adoption.

📊 Investment Perspective

✅ Strengths

• Coinbase institutional backing
• Proven OP Stack technology
• Rapid ecosystem growth (~$2B+ TVL)
• No token dilution risk

⚠️ Considerations

• No direct token upside (yet)
• Centralized by Coinbase control
• Regulatory risk via parent company

About Base

Base, launched by Coinbase in 2023, is an Ethereum Layer 2 network built on Optimism's OP Stack. As a secure, low-cost, builder-friendly blockchain, Base leverages Coinbase's institutional infrastructure and compliance expertise. The network uses ETH for gas fees and has no native token, focusing purely on utility and adoption. Base has quickly grown to over $2B in TVL, hosting major DeFi protocols and consumer applications. Its success represents Coinbase's strategic expansion beyond exchange services into core blockchain infrastructure.

🔬 Further Research

• Ethereum DeFi Protocols - Explore DeFi protocols on Ethereum and Layer 2s
• Ethereum Layer 2 Solutions - Compare Base with other L2s
• Ethereum Scorecard - Understand the base layer

🔬 Research Starting Point

This scorecard provides a research foundation. Base has no native token - network exposure comes via Coinbase (COIN) stock ownership. We encourage readers to conduct further research at DeFiLlama and Coinbase Investor Relations before making investment decisions. Stock investments carry significant risks including total loss of capital.