- Base is built on Optimism’s OP Stack and incubated by Coinbase
- Layer 2 solutions alleviate the congestion on the Ethereum Mainnet
DeFi platform Summer.fi has announced the expansion of Summer.fi product offerings to Base, an L2 platform. Built on Optimism’s OP Stack and incubated by Coinbase, Base is aiming to bring a billion users onchain.
Summer.fi is a platform for decentralized finance. It can be used to borrow stablecoins against users’ favorite cryptocurrencies, increase exposure against them using Multiply, or earn a competitive yield.
A seamless, efficient trading experience
Layer 2 solutions alleviate the congestion on the Ethereum Mainnet, enabling Summer.fi to provide a seamless and more efficient trading experience even during peak periods. With this integration, users can now enjoy the smooth UX of Summer.fi using three L2 solutions: Arbitrum, Optimism, and now Base.
Lower transaction costs
Today Summer.fi introduces the support for AAVE v3 Borrow and Multiply for Base. This will combine lower transaction fees from L2 with world-class user experience to manage and monitor positions. In addition, the initiative offers the ability to bridge to Base straight from any supported network.
Advantages for users include simple and intuitive management of Multiply and Borrow positions accessible on Base, an easy way to monitor Multiply and Borrow positions in DeFi, and lower fees, among others.
Chris Bradbury, CEO of Summer.fi, commented:
We are thrilled to be joining Base Network’s incredible growth. With the support of the most respected exchange and Summer.fi being one of the most trusted apps to deploy capital to DeFi, we believe Layer 2 solutions are ready for the next stage of market development.
Armand Khatri, DeFi Lead of Base, added:
We’re very happy to welcome Summer.fi into the Base ecosystem. Their commitment to efficiency and lower fees, as well as their ease of use through automations and other product features, align with our mission to bring a billion users onchain.
