Put differently: Base ≈ 42% of all L2 Finance activity, and the top three chains (Base, Arbitrum, zkSync) account for ~75% of cumulative fees.
The long-term chart (mid-2022 to now) also tells an important story: Finance activity didn’t grow linearly.
It exploded in 2024 – and that spike isn’t evenly distributed either.
• DEX activity dominates the entire period, start to finish. • Automated trading starts climbing fast in late 2024 / early 2025.
Here: > @Uniswap leads by a wide margin: multiple router versions, across multiple chains. > @syncswap has strong multi-chain presence. > DEX aggregators like @1inch, @odosprotocol, and @KyberNetwork consistently appear near the top.
Then you start seeing something new: strategy executors everywhere.
Automated trading contracts show up again and again among the highest gas consumers.
That’s programmatic behavior.
Derivative activity is present too. @GMX_IO’s OrderHandler and clearing contracts show consistent usage, but still sit below spot DEXs in total gas paid.
And lending?
It’s there, but smaller. Mostly LayerBank core contracts, capturing a noticeably lower share of Finance gas compared to trading-heavy use cases.
The takeaway is simple but important:
L2 DeFi today is still about execution, not balance sheets. Swaps first. Automation second.
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Clear now: Base won.
• @base alone accounts for $113.11M in "finance" gas fees on @growthepie_eth.
• @arbitrum sits at $48.18M.
• @zksync Era at $38.13M.
Then the drop-off starts:
• @Optimism $25.75M
• @LineaBuild $18.93M
• @Scroll_ZKP $17.51M
Put differently:
Base ≈ 42% of all L2 Finance activity, and the top three chains (Base, Arbitrum, zkSync) account for ~75% of cumulative fees.
The long-term chart (mid-2022 to now) also tells an important story: Finance activity didn’t grow linearly.
It exploded in 2024 – and that spike isn’t evenly distributed either.
• DEX activity dominates the entire period, start to finish.
• Automated trading starts climbing fast in late 2024 / early 2025.
Here:
> @Uniswap leads by a wide margin: multiple router versions, across multiple chains.
> @syncswap has strong multi-chain presence.
> DEX aggregators like @1inch, @odosprotocol, and @KyberNetwork consistently appear near the top.
Then you start seeing something new:
strategy executors everywhere.
Automated trading contracts show up again and again among the highest gas consumers.
That’s programmatic behavior.
Derivative activity is present too. @GMX_IO’s OrderHandler and clearing contracts show consistent usage, but still sit below spot DEXs in total gas paid.
And lending?
It’s there, but smaller.
Mostly LayerBank core contracts, capturing a noticeably lower share of Finance gas compared to trading-heavy use cases.
The takeaway is simple but important:
L2 DeFi today is still about execution, not balance sheets.
Swaps first. Automation second.