Base batches users' transactions and submits them to Ethereum, paying a share of the transaction fees to Ethereum validators (expense).

Base is an Ethereum Layer 2 (L2) offering a secure, low-cost, builder-friendly way for anyone, anywhere, to build onchain.

Coinbase team owns and governs the protocol. Coinbase is a public company and its investors include Andreessen Horowitz, Vanguard Group, ARK Investment Management, etc.

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Base

# Base Bridge deposits Methodology

## 1. Overview

Base bridge deposits measures the total USD value of assets held in Base's official bridge contracts on Ethereum. This metric represents the cumulative value of user deposits that have been bridged from Ethereum to Base L2, serving as an indicator of capital inflow and user adoption of the Base ecosystem. The calculation tracks multi-token balances across Base's bridge infrastructure and converts them to USD using end-of-day pricing.

## 2. Data sources

The calculation relies on several key data sources:
- **Ethereum blockchain events**: Parsed ERC20 `Transfer` events and native ETH transfers to track token movements into and out of bridge contracts
- **Transaction data**: Ethereum transaction records to identify balance-changing operations on bridge addresses  
- **Token balance data**: Multi-token balance tracking across different asset types (ETH, USDC, WETH, and other bridgeable tokens)
- **External price data**: End-of-day token price feeds for USD conversion of all supported bridge assets
- **Token metadata**: Contract information and decimal specifications for proper token amount calculations
- **Chain availability metrics**: Data quality indicators to ensure reliable metric calculation

## 3. Step-by-step calculation

### Component A: Bridge address monitoring
- **Purpose**: Identifies and tracks the specific Ethereum addresses that serve as Base's official bridge contracts
- **Logic**: The calculation focuses on three predetermined Ethereum addresses that function as Base's bridge infrastructure. These addresses are: `0x3154cf16ccdb4c6d922629664174b904d80f2c35`, `0x49048044d57e1c92a77f79988d21fa8faf74e97e`, and `0x9de443adc5a411e83f1878ef24c3f52c61571e72`. These contracts hold user deposits while assets are being bridged to Base L2.
- **Key fields**: The `account_addresses` list defines which Ethereum addresses to monitor for bridge deposit calculations

### Component B: Portfolio balance calculation  
- **Purpose**: Calculates the total token balances held across all monitored bridge addresses
- **Logic**: The portfolio calculation processes Ethereum blockchain data to determine current balances for each bridge address across all supported token types. This involves parsing ERC20 transfer events to track token inflows and outflows, handling native ETH balances, and maintaining running balance totals over time. The calculation accounts for multiple token standards and properly handles decimal conversions for each asset type.
- **Key fields**: The `balance` field represents the token amount held, while `timestamp` tracks when each balance snapshot was recorded

### Component C: Multi-token aggregation
- **Purpose**: Combines balances across different token types and bridge addresses into a unified metric
- **Logic**: Token balances from all monitored addresses are aggregated together, with each token type converted to USD using end-of-day price feeds. The calculation handles different token decimals and ensures accurate USD conversion timing. Assets are grouped by timestamp to create daily snapshots of total bridge deposits.
- **Key fields**: The `bridge_deposits` field contains the USD-denominated sum of all token balances across bridge addresses

### Component D: Business context enrichment
- **Purpose**: Adds metadata to categorize the metric within Token Terminal's framework
- **Logic**: Each data point receives business classification tags including `market_sector_id` set to 'blockchains_l2' to indicate this is Layer 2 blockchain data, and `business_segment_id` set to 'blockchain' for core infrastructure metrics. The `product_id` remains null as this is not product-specific data.
- **Key fields**: The classification fields `market_sector_id`, `business_segment_id`, and `product_id` provide business context for the metric

### Final aggregation
- **Combining components**: All token balances across the three bridge addresses are summed together to create the total `bridge_deposits` value, representing the complete USD value held in Base's bridge infrastructure
- **Currency conversion**: Each token balance is converted to USD using end-of-day price feeds, with proper decimal adjustment based on token specifications
- **Time aggregation**: Data is aggregated by daily timestamps, with a fill-forward strategy applied to handle any gaps in the time series
- **Final calculation**: The final metric value represents the total USD value of all assets held in Base's Ethereum bridge contracts at each point in time, indicating the cumulative capital that users have deposited to bridge to Base L2

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of assets held in a project's bridge contracts.

Base

Bridge deposits

Bridge deposits

Competitive landscape

Chain breakdown