An acquisition like this can accelerate the adoption of decentralized payment systems for the Superchain

<div><div>Welcome back to the Optimism Weekly Overview. We’re creating the best place for the community to get up to speed on the network’s latest updates, metrics and releases as well as the Superchain ecosystem developments, insights and more – all in one place. New here? Subscribe to get updates to your inbox. Every Tuesday.<h3>Superchain Ecosystem Numbers</h3><ul><li>DeFi total value locked (TVL) across Superchain: $4.4B (+4.76%)<ul><li>Assets onchain: $18.4B (+5.75%)</li></ul></li><li>Daily average transaction volume: 9.1M (+2.25%)<ul><li>Base: 6.9M (+3%)</li><li>OP Mainnet: 870.9K (+4.79%)</li><li>World Chain: 439.5K (+4.32%)</li><li>Mint: 181.9K (-2.2%)</li><li>Kroma: 163.2K (+5.15%)</li></ul></li><li>Revenue-generating deployers on:<ul><li>Base: 8,097 (+38.39%)</li><li>Zora: 143 (+11.73%)</li><li>OP Mainnet: 1,205 (-0.66%)</li></ul></li><li><a href="https://dune.com/queries/3594625/6056228?end_date_d83555=2024-07-02+00%3A00%3A00&amp;start_date_d83555=2024-06-25+00%3A00%3A00" rel="" target="_blank">Superchain transaction fee total savings vs L1s</a>:<ul><li>OP Mainnet: 57,771 ETH</li><li>Base: 216,705 ETH</li><li>Zora: 4,485 ETH</li><li>Compared to Ethereum, L2 Superchain users saved a total of 279K ETH, or $870M on txn fees this week.</li></ul></li></ul>The percentages and metrics are pulled from the <a href="https://docs.google.com/spreadsheets/d/1f-uIW_PzlGQ_XFAmsf9FYiUf0N9l_nePwDVrw0D5MXY/edit?gid=915250487#gid=915250487" rel="" target="_blank">Superchain Health Dashboard</a> and are calculated from its change over a 7-day time frame, unless noted otherwise.<h3>Spotlight on the Superchain</h3><div><figure><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdfe1f9f5-fbdd-4b90-93d1-1fbf6efd3c77_1024x576.png" target="_blank"><div><picture><img src='https://sosovalue.s3.us-west-2.amazonaws.com/sosovalue/web3image/24/11/20/y9h9tm57oo97.png'/></picture></div></a></figure></div>⚡What’s happening: Coinbase <a href="https://www.coinbase.com/blog/coinbase-acquiring-team-to-accelerate-onchain-payments" rel="" target="_blank">announced</a> it acquired crypto payment platform Utopia Labs and will integrate it with Base and Coinbase Wallet’s onchain payment capabilities. ⚡Why it matters: The acquisition of Utopia Labs provides more resources for Base developers who want to build onchain payment platforms that can integrate with Coinbase Wallet. This also impacts the Superchain ecosystem, which Base is a part of, as it has a massive stablecoin market cap of about $4.9 billion, according to the <a href="https://docs.google.com/spreadsheets/d/1f-uIW_PzlGQ_XFAmsf9FYiUf0N9l_nePwDVrw0D5MXY/edit?gid=576594593#gid=576594593" rel="" target="_blank">Superchain Health Dashboard</a>. Utopia Labs specializes in managing stablecoin transactions, directly aligning with Coinbase and Base’s broader vision of making stablecoins the bridge between the traditional finance system and blockchain technology. As stablecoins have risen in popularity, it's imperative for networks to provide low-cost, fast, and secure payment solutions to users globally. Without continuous innovations or services scaling, payment optionality and growth can falter onchain. It’s also worth noting Base’s stablecoin market cap is about $3.61 billion, according to <a href="https://defillama.com/chain/Base?stables=true&amp;tvl=false" rel="" target="_blank">DefiLlama data</a>. This indicates the network’s ability to provide an asset that caters toward the needs of regions with high inflation,unstable local currencies, or just providing a way for users looking to park their assets somewhere with less volatility. In general, stablecoins enable faster, borderless payments compared to traditional banking systems so it’s important for payment solutions to continue to innovate.⚡What it means for the broader ecosystem: Coinbase integrating Utopia Labs with Base can accelerate the adoption of decentralized payment systems and expand the stablecoin ecosystem for the Superchain. With the need for more payment solutions rising, it is important for networks to innovate and make advancements that can empower consumers and businesses with faster, cheaper, and more efficient solutions.If done correctly in a strategic way, the acquisition of Utopia Labs by Coinbase can extend the Superchain in the stablecoin sector in new ways.<h3>What’s poppin’ on the Superchain</h3>👤Total <a href="https://www.growthepie.xyz/" rel="" target="_blank">number of weekly active addresses</a> by chain: <ul><li>Base: 6.54M </li><li>OP Mainnet: 277.19K </li><li>Zora: 116.21K  </li><li>Mode Network: 12.32K  </li></ul><ul><li>Ink movedto<a href="https://x.com/gelatonetwork/status/1857387199458586662" rel="" target="_blank">Stage 1 of decentralization</a> after deploying open-source, permissionless proofs</li><li>Guru Network announced the <a href="https://x.com/xgurunetwork/status/1857107793666257349" rel="" target="_blank">launch of its L3</a> on Base, designed to empower users through the use of AI agents</li><li>Lisk launched its <a href="https://lisk.com/blog/posts/lisk-user-mainnet-is-live/" rel="" target="_blank">“User Mainnet”</a>, an L2 for real-world use case development</li><li>Aerodrome TVL hit $1.5B on Nov. 17, through its liquidity marketplace powered by Base (shown below)</li></ul><div><figure><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F890d8e7d-f468-4d1f-96ad-6c1222fded86_1318x614.png" target="_blank"><div><picture><img src='https://sosovalue.s3.us-west-2.amazonaws.com/sosovalue/web3image/24/11/20/y5zrtm57oo36.png'/></picture></div></a></figure></div>Source: <a href="https://defillama.com/protocol/aerodrome" rel="" target="_blank">DefiLlama</a><h3>From the Optimism Collective</h3>Highlighting the companies, communities and citizens bound to the Optimism Collective.<ul><li>Base held an event in Singapore as part of its global buildathon series - <a href="https://www.youtube.com/live/sYxtkcMT6DM" rel="" target="_blank">watch the full stream here</a></li><li>Optimism Chief Growth Officer Ryan Wyatt spoke on the <a href="https://www.youtube.com/watch?v=Tc_P0i9ivpo" rel="" target="_blank">ZEROPOD podcast</a> about his contributions in building out the Superchain</li><li>Lisk COO Dominic Schwenter talked about the launch of Lisk’s User Mainnet on the <a href="https://x.com/XellarWorld/status/1857272465136996863" rel="" target="_blank">Xellar Podcast</a></li></ul><h3>Making headlines </h3><ul><li>Uniting Contributors Across Ethereum For An Interoperable Future (<a href="https://x.com/i/broadcasts/1OyKAZNrykbGb" rel="" target="_blank">Ethereum Interop Forum 2024 on X</a>)</li><li>BlackRock's tokenized fund BUIDL expanding to Aptos, Arbitrum, Avalanche, Optimism and Polygon (<a href="https://www.theblock.co/post/326288/blackrock-buidl-aptos-arbitrum-avalanche-optimism-polygon?utm_source=rss&amp;utm_medium=rss" rel="" target="_blank">The Block</a>)</li><li>The Comprehensive Guide to Optimism’s Superchain (Updated version) (<a href="https://x.com/routescan_io/status/1858519025313050916" rel="" target="_blank">Routescan on X</a>)</li></ul><h3>Get into the OP Stack</h3>Want to dive into the ecosystem full-time? Find the <a href="https://jobs.optimism.io/jobs" rel="" target="_blank">latest job postings here</a> or get involved at an event below. <ul><li>VitaDAO is raising funds for <a href="https://catalyst.molecule.xyz/projects/99213409996947385394598498281946075550788598782137187951259284398807985276496" rel="" target="_blank">Alzheimer’s research</a> via Base </li><li>GameSwift opened applications for its <a href="https://incubation-form.gameswift.io/" rel="" target="_blank">incubation program</a> focused on developers that are building games on its network</li><li>Participate in <a href="https://uniswap.notion.site/Unichain-Infinite-Hackathon-Fact-Sheet-PUBLIC-1365073cd08a8006975af9cc23e41c07" rel="" target="_blank">Unichain’s Infinite Hackathon</a> for a chance at $2.5K to $7.5K in grants</li></ul>To get this newsletter delivered to your inbox every Tuesday. Subscribe here.This product was built by <a href="https://token-relations.com/" rel="" target="_blank">Token Relations</a>. This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.</div></div>

Coinbase acquires Utopia Labs to further stablecoin development on Base