✨The State Of Base In 2025 We all got a decent year on @base where onchain stuff actually happened. Base ended 2025 as the largest L2 by most metrics that matter: – $4.5 TVL, roughly 46% of total L2 DeFi – daily tx regularly clearing 10–11M, peaking north of 14M – ~0.5M daily active addresses sustained into Q4 – ~$75M in annualized protocol fees, around 62% of all L2 revenue – stablecoins ballooned to ~$4.6B (USDC heavy) – bridged assets hit about $11.5B total – developer tooling matured, onboarding 25k+ devs and 700+ dApps by Q3 → Base captured value because it processed a ton of higher-quality flows like trading, creator interactions, and settlement. Now zoom into what actually powered that. DeFi became the engine: – @AerodromeFi did about $167.5M in protocol revenue on the year, ~43% of Base’s total dApp revenue – @Morpho’s Base TVL went from about $350M to $2.1B – users took out $1.13B in loans through Morpho on Base, about 36% of all active Morpho loans...