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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Blockchains (L2)

Base

# Base Coinbase Smart Wallets deployed Methodology

## 1. Overview

The Coinbase Smart Wallets Deployed metric measures the daily number of smart wallet contracts deployed by Coinbase's smart wallet factory on the Base blockchain. This metric tracks the adoption and growth of Coinbase's smart wallet infrastructure by counting new wallet deployments each day. The calculation identifies contract creations from a specific Coinbase deployer address and aggregates them daily to show deployment velocity over time.

## 2. Data sources

- **Base blockchain contract creation events**: Contract deployment records from Base blockchain including creation timestamps, contract addresses, deployer information, and creator addresses
- **Base blockchain transaction traces**: Transaction execution traces that capture smart contract deployment events and their associated metadata
- **Smart contract deployment records**: Detailed records of contract creations including bytecode, trace addresses, and deployment context

## 3. Step-by-step calculation

### Component A: Contract creation extraction
- **Purpose**: Extracts all contract creation events from Base blockchain with relevant metadata
- **Logic**: Retrieves distinct contract creation records from Base blockchain data, capturing the `creation_timestamp`, `contract_address`, `deployer_address`, `creation_trace_address`, `contract_bytecode`, and `creator_address` for each deployed contract. The data is incrementally processed with daily partitioning to ensure efficient updates and includes lookback logic to handle late-arriving data.
- **Key fields**: `creation_timestamp` (when contract was created), `contract_address` (deployed contract address), `creator_address` (address that initiated the deployment)

### Component B: Coinbase smart wallet filtering and daily aggregation
- **Purpose**: Identifies Coinbase smart wallet deployments and aggregates them by day
- **Logic**: Filters contract creation records to include only those where the `creator_address` matches Coinbase's smart wallet factory address (`0x0ba5ed0c6aa8c49038f819e587e2633c4a9f428a`). The filtered records are then grouped by day using timestamp truncation of the `block_timestamp` field. For each day, the system counts all contract creations using a count aggregation to determine the number of smart wallets deployed.
- **Key fields**: `timestamp` (truncated to day), `coinbase_smart_wallets_deployed` (daily count of deployed wallets)

### Final aggregation
- **Combining components**: The daily aggregated counts are processed through a finalization macro that standardizes the metric format and applies consistent metadata including chain identifier ('base'), market sector ('blockchains_l2'), and business segment ('blockchain')
- **Time aggregation**: Data is aggregated at daily granularity using timestamp truncation to day boundaries, ensuring each deployment is counted exactly once per day
- **Data quality**: Chain availability filtering is applied to ensure only valid data from available time periods is included in the final metric
- **Final calculation**: The final metric value represents the total count of Coinbase smart wallet contracts deployed on each day, with zero-filling strategy applied to ensure complete time series data for days with no deployments

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

Coinbase Smart Wallet contracts created on the network.

Base

Coinbase Smart Wallets deployed

Coinbase Smart Wallets deployed

Competitive landscape

Chain breakdown