Base L2 Chain New-User Walkthrough
This content provides a detailed guide on how you can interact on Base Blockchain.
Base is a layer2 scaling solution for Ethereum which has been running on public mainnet since August 2023.
It is the cheapest and most adopted L2 blockchain currently.
Before we dive fully into the guide,
i will give some metrics with regards to Base, for you to see how trusted and adopted the chain is.
Within 3 years of its public mainnet, Base has achieved:
▪︎The processing of more than 5.8 billion transactions.
▪︎Cheapest Ethereum L2 blockchain with average transaction cost of just $0.02
▪︎A Total Value Secured (TVS) of more than $14 billion
▪︎Over 700 live ecosystem projects including Aave, Uniswap, Lido et cetra.
Having seen these, let's fully go into the main business.
Base uses Ethereum as gas token and this means you need Ether on Base network (ETHbase) to be able to interact on the chain.
▪︎There are several sources you can get ETHbase from including CEXs and DeFi Bridges.
>Cex
Simply withdraw Ethereum to your EOA wallet address. Make sure to select Base network while withdrawing.
>Bridge
You can make use of any bridge to move Ethereum from any chain into Base. Relay and Stargate bridges
are very fast and efficient but you can use any bridge of your choice.
Congratulations, having sent ETHbase to your wallet, you can now smoothly start experiencing Base chain ecosystem DeFi applications.
You have 2 ways to interact on Base:
>Using traditional wallets like Metamask, Rabby, Zerion etc
> Using BaseApp
BaseApp has some unique features like:
•Free transaction paid by Base •One-click transaction
•Embedded mini-apps
•Social feed
You can get BaseApp here
🔗
base.app
Base chain has so many ecosystem applications across different sectors of DeFi.
The entire Base ecosystem applications are accessible at 🔗
Base.org
Below are some bluechip dApps on this chain across DeFi.
▪︎ Spot trading Dex protocols like Aerodrome(Base native), Uniswap, PancakeSwap, Tristero etc
You can seamlessly buy and sell tokens on any of these Dex protocols.
▪︎Perpetual trading Dex such as Avantis, SynFutures, KiloEx, Hibachi etc
These futures tradind Dex protocols give you smooth experience Shorting or Longing any available tokens of your choice.
▪︎Lending & Borrowing protocols like Aave, Lido finance, Morpho, Moonwell etc
You can supply your assets in any of these protocols and get yields based on the protocols indiviual APYs.
You can also borrow against your LP positions.
▪︎NFT market Places like Zora, OpenSea, Element market, Magic Eden etc
These market places gives you good experience of minting, buying and selling of NFTs.
▪︎Prediction Market like Limitless Exchange give Base user the ability to bet on outcomes such as tokens prices, politics and anything betable.
Do not forget, Base chain is so developers friendly.
EVM chain and this means you don't need to learn another programming language. If you can code with Solidity, you can code on Base, then.