Compound becomes latest DeFi protocol to go live on Base

DeFi lending platform Compound is the latest protocol to launch on the new Coinbase-incubated Ethereum Layer 2 network Base.

Last week, the largest decentralized exchange, Uniswap, also integrated its V3 to the Ethereum Layer 2 — generating over 10,000 transactions on its first day of launch.

The Base mainnet officially opened to the general public on August 9, with the number of daily active users on Base surpassing 100,000 — partly attributed to social network friend.tech. Daily transactions on the Ethereum Layer 2 are also approaching the levels of dominant Optimistic Rollup scaling solutions Optimism and Arbitrum, according to The Block’s data dashboard.