2023 Layer 2 Analysis: ZkSync, Base, StarkNet & Key Metrics

In 2023, the crypto domain has observed a remarkable rise of Layer 2 solutions, each making its unique mark in the ecosystem. As stakeholders and enthusiasts gauge the performance of these platforms, there are four pivotal metrics to consider: Total Value Locked (TVL), Daily Active Users (DAUs), Daily Transactions, and DEX Volumes.

When it comes to TVL, Base dominates with a locked value of $338 million, significantly influenced by platforms such as AerodromeFi and FriendTech. Following closely is ZkSync with a TVL of $117 million, primarily in the SyncSwap DEX, and StarkNet, holding a TVL of $41 million, predominantly in the JediSwap DEX.

In the realm of DAUs, ZkSync is a clear frontrunner with 246,000 users. StarkNet follows with 163,000 users. Base, boasting 69,000 users, marks its presence with organic growth, much credited to FriendTech. Rumors hint at a potential airdrop by Jesse Pollak, which could further augment Base's user base in the near future.

As for Daily Transactions, Zksync leads with 1 million, trailed by Base at 633,000 and Starknet at 596,000. In the DEX Volumes category, which indicates liquidity and user trust, Zksync again leads with $95 million. Base records $17 million, and Starknet stands at $14 million.

A few significant takeaways from this data include the current popularity of ZkSync for airdrop farming and the organic user base of Base, attributed to its innovative dapps. For enduring success in the L2 arena, chains should not only offer airdrop incentives but also pioneer unique dapps. An illustrative example from the past is Arbitrum, which effectively combined GMX with the $ARB airdrop.

This exploration into the Layer 2 solutions of 2023 is enriched with insights and guidance from several crypto aficionados. Particular gratitude is extended to individuals such as Mughal, arndxt_xo, Tindorr, and many others for their insightful contributions.

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