Base has surpassed Solana in curated capital, with over $1.6 billion in such deposits — that's 22.5% of the market. Ethereum still leads with $3.5 billion, or 48.2%. Solana now holds less than $550 million. The shift makes Base the largest layer-2 network for curated capital, a fast-growing slice of DeFi.
What is curated capital?
Curated capital refers to deposits in DeFi vaults that are actively managed by specialized risk curators. These curators follow predefined rules and risk frameworks, offering a middle ground between passive liquidity and full-on active management. It's a niche that's been gaining traction as protocols look for more efficient capital allocation.
The numbers behind the flip
Ethereum and Base together now command 70.7% of the curated capital market. The rest of the top 10 includes Binance Smart Chain, Plasma ($144 million), and Monad ($119 million). Base's $1.6 billion vaults it past Solana, which had been a strong contender in broader DeFi metrics but appears to have lost ground in this specific category.
Base's rise isn't just a vanity metric. Curated capital tends to be stickier and more productive than raw TVL, because it's actively managed. For Solana, the drop below $550 million raises questions about its DeFi ecosystem's ability to attract and retain sophisticated capital. For Base, being the top L2 in this category could draw more projects and curators looking for a home.
The curated capital market is still relatively small compared to total DeFi TVL, but it's growing. Whether Solana can claw back ground — or if Base will keep eating into its share — is an open question. For now, the data shows a clear shift in where curated capital is flowing.
