Base Dominates Onchain Growth in 2024 as Ethereum and Polygon Drive Engagement
The year 2024 has reshaped the onchain landscape, as a surge in blockchain activity propelled user adoption to all-time highs. According to Flipside Crypto’s latest Onchain Users Report, this remarkable growth brought millions of new participants into web3, though it also exposed pressing challenges in cultivating long-term, meaningful engagement.
A Breakout Year for Base
Among the standout performers, Base—Coinbase’s Ethereum-based Layer-2 chain—emerged as a dominant force in user acquisition. In October alone, the industry welcomed 19.4 million first-time onchain participants, with Base accounting for an astonishing 13.7 million. This figure outpaced its nearest rival, Polygon, by a factor of eight. Throughout the year, Base recorded a staggering 56-fold jump in monthly new users, buoyed by Coinbase’s existing customer network, the rise of onchain memecoin trading, and the integration of onchain artificial intelligence through “Based Agents.”
While Base’s explosive growth demonstrated the ease with which speculative activities can attract attention, the report suggests that there is untapped potential in creating a richer, more diversified experience. User retention and engagement beyond trading remain areas ripe for further development.
Ethereum’s Enduring Influence
Ethereum maintained its stature as the core engine driving the web3 ecosystem, consistently drawing in 1.56 million new users each month. Although Arbitrum notched a single-month peak of 3.3 million new entrants in May, Ethereum’s broad liquidity and adaptability secured its status as the go-to platform, particularly for decentralized finance (DeFi). By the end of 2024, more than 10.9 million “super users” across Ethereum participated in DeFi-related activities, underscoring the chain’s established role in fueling advanced blockchain use cases.
Still, motivating these newcomers—and even Ethereum’s Layer-2 adopters—to fully embrace more complex features, such as governance and cross-chain integrations, remains an ongoing challenge.
Polygon’s Versatility Extends Beyond DeFi
In addition to its steady acquisition of new onchain users, Polygon carved out a unique space by engaging 1.5 million super users well beyond the DeFi realm. Notably, it facilitated 867.7 million super-user transactions across GameFi and other emerging sectors. This breadth of activity highlights Polygon’s potential to stimulate high-volume participation through diverse blockchain applications.
Shifts in Decentralized Exchanges
Uniswap retained its lead across major networks, with its influence expanding significantly on Base, where it captured 91.3% of decentralized exchange (DEX) volume. Uniswap’s liquidity depth and enduring reputation contributed to this remarkable consolidation of user trust. Meanwhile, Avalanche’s top DEX, Trader Joe, reinforced its prominence by introducing features like Auto-Pools and exploring new blockchain environments.
Quality of Engagement as the Next Frontier
While sheer numbers defined 2024’s onchain surge, the report underscores that long-lasting value depends on more than just user acquisition. According to the findings, platforms that invest in governance, staking, and broader, utility-driven experiences stand the best chance of converting one-time visitors into committed contributors.
Looking ahead, the report implies that true success will hinge on balancing scalability with authentic, purpose-driven participation. If networks can move beyond quick wins and focus on engagement quality, the record-setting growth of 2024 may serve as the foundation for a more resilient, impactful future in the blockchain ecosystem.