Leading decentralized exchange aggregator, 1inch, collaborates with Coinbase’s Ethereum Layer 2 platform, Base, to implement its 1inch Aggregation and Limit Order Protocols.

Following Base’s mainnet debut on August 9th, well-known exchanges including Uniswap, Balancer, and SushiSwap have become part of the network. 1inch’s inclusion into Base’s ecosystem aims to harness liquidity from the 15 operational decentralized exchanges on the network, such as Uniswap and Base Swap.

1inch’s limit order protocol provides users the flexibility to set specific buying and selling rates, offering an alternative to the typical instant price conversions seen in decentralized exchanges.

“Base stands out as an impressive L2 solution, especially with the backing of a heavyweight like Coinbase,” commented Sergej Kunz, 1inch Network’s co-founder. He added that 1inch resonates with Base’s mission to draw a vast user base to blockchain.

1inch highlighted that the Base platform enjoys the advantage of “Coinbase product integrations and seamless fiat gateways,” benefitting projects within its ecosystem. However, it’s worth noting that Coinbase will halt trading of certain stablecoins, including Tether USDT, for Canadian users from August 31, citing recent review outcomes.

1inch continues to lead the DEX aggregation domain, boasting a trade volume exceeding $1 billion in the past week. The protocol’s outreach covers prominent Layer 2 solutions like Optimism and zkSync Era, and is compatible with multiple blockchains, including Ethereum and Avalanche.

Base’s Rising Traction Attributed to Daily User Surge and Token-Enabled Social Networking Post its August 9th launch, Base has seen a flurry of decentralized apps joining, pushing daily user counts over 100,000. A significant factor is the attention garnered by Friend.tech, a social platform that offers tokenized Twitter account-based private chats.

Furthermore, Base’s Onchain Summer program, featuring Coca-Cola’s NFT collection, has played a role in its growth.

Statistically, Base, an Ethereum Layer 2 solution, has bested other scaling solutions in daily transactions. By August 23rd, Base’s weekly average for daily dealings stood at 813,000, overshadowing its competitors and even Ethereum’s daily transaction count.

Yet, the prevalence of meme coin transactions within DeFi is noteworthy. Data from Dextool reveals a considerable chunk of Base’s activity stems from meme coin trading, especially tokens linked to Friend.tech.

Dextools data indicates that these tokens constituted half of Base’s trading volume, reaching $48.8 million of the $79.7 million total.

Base’s trajectory is further defined by recent moves. Compound has joined other DeFi platforms on Base, and Circle, the USDC stablecoin issuer, announced its integration with Base, set for September, aligning with its expansion to six more blockchains.