KoinlyticsCoinbase launched Base in August 2023 using Optimism's OP Stack. By late 2024 Base was the largest L2 by daily active users and one of the largest by TVL. The reason is not just Coinbase's brand: it is the OP Stack architecture and Coinbase's willingness to route users directly.
The OP Stack
Optimism's rollup software stack: sequencer, batcher, proposer, and dispute logic, all open source and modular. Any team can spin up an L2 using this stack and inherit compatibility with every other OP Stack chain.
The Superchain vision
OP Stack chains (Base, OP Mainnet, Zora, Mode, and 40+ others) share bridge contracts, security council, and eventually a shared sequencer. That means:
- One interop message can move state between any two OP chains without a third-party bridge.
- A user on Base can call a contract on Zora atomically in one transaction (interop, shipping 2025-2026).
- Sequencer revenue gets shared with the Optimism collective, funding ongoing development.
Why Base won distribution
- Coinbase account = Base wallet. No new sign-up.
- Fiat-to-Base rails are one tap in the Coinbase app.
- Farcaster + Base created a captive social layer.
- Meme culture (2024): $BRETT, $HIGHER, $DEGEN all Base-native.
The centralization question
Base is currently sequenced by Coinbase. Fees flow to Coinbase (10% goes to Optimism). This is a real centralization concern but Base has committed to progressively decentralizing sequencing in step with the rest of the Superchain roadmap.