{"id":3443,"date":"2026-05-28T21:48:50","date_gmt":"2026-05-28T21:48:50","guid":{"rendered":"https:\/\/blog.coinsignals.net\/?p=3443"},"modified":"2026-05-28T21:48:50","modified_gmt":"2026-05-28T21:48:50","slug":"exchange-owned-op-stack-chains-generated-nearly-500-million-in-onchain-revenue-says-op-labs","status":"publish","type":"post","link":"https:\/\/blog.coinsignals.net\/index.php\/2026\/05\/28\/exchange-owned-op-stack-chains-generated-nearly-500-million-in-onchain-revenue-says-op-labs\/","title":{"rendered":"Exchange-Owned OP Stack Chains Generated Nearly $500 Million in Onchain Revenue, Says OP Labs"},"content":{"rendered":"\n
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Exchange backed blockchain networks built using the OP Stack produced more than $495 million in onchain application revenue during the second half of 2025, according to OP Labs.<\/p>\n\n\n\n

The company said the total includes sequencer fees from network transactions, income generated through applications integrated directly into exchange ecosystems, and value retained onchain through user activity.<\/p>\n\n\n\n

In a press release shared with CryptoPotato, OP Labs explained that crypto exchanges have historically depended on external blockchain networks that captured much of the value generated from settlement activity, application fees, and broader onchain monetization.<\/p>\n\n\n\n

Exchange-Owned Chains Rapidly Expanding<\/strong><\/p>\n\n\n\n

Over the past year, however, exchange operated chains powered by the OP Stack have seen significant growth.<\/p>\n\n\n\n

OP Labs highlighted the performance of Morpho on Coinbase backed Base, noting that the protocol\u2019s total value locked increased from $48 million at the start of 2025 to more than $960 million by year end, representing nearly 20 times growth.<\/p>\n\n\n\n

According to the company, the expansion was largely fueled by lending services integrated directly into the Coinbase platform rather than through traditional wallet based onboarding methods.<\/p>\n\n\n\n

Base has since become Morpho\u2019s second largest blockchain network globally and accounted for 32% of the protocol\u2019s application fees during the second half of 2025. OP Labs said that figure was 13 times larger than Arbitrum\u2019s contribution and 60 times greater than OP Mainnet\u2019s.<\/p>\n\n\n\n

Kraken\u2019s Ink chain also recorded major growth, adding more than one million unique wallet addresses since December 2024.<\/p>\n\n\n\n

OP Labs stated that fewer than 0.6% of those wallets previously interacted onchain with Kraken, while the remaining 99.4% represented entirely new blockchain users. The company described this as evidence that exchange owned chains are helping expand the broader crypto ecosystem rather than simply redistributing users between networks.<\/p>\n\n\n\n

The firm also pointed to the rapid success of Tydro, the Aave V3 white label lending protocol launched on Ink in October 2025.<\/p>\n\n\n\n

Tydro reportedly reached $100 million in total value locked within its first 24 hours and exceeded $500 million within 90 days. OP Labs noted that similar Aave deployments on neutral Layer 2 networks previously required between 142 and 721 days to achieve comparable milestones.<\/p>\n\n\n\n

Kyle Jenke, Chief Business Officer at the Optimism Foundation, said the results reflect a broader shift in how exchanges capture value within the crypto industry.<\/p>\n\n\n\n

\u201cExchanges now own the settlement, distribution, and application layers their users transact on,\u201d Jenke said.<\/p>\n\n\n\n

He added that the use of a shared standard like the OP Stack allows exchanges to maintain interoperability without fragmenting the ecosystem.<\/p>\n\n\n\n

OP Stack Ecosystem Reaches Record Highs<\/strong><\/p>\n\n\n\n

Across the wider ecosystem, OP Stack based chains collectively secured $16.33 billion in total value, held $6.8 billion in DeFi total value locked, and processed 3.6 billion transactions during the second half of 2025.<\/p>\n\n\n\n

OP Labs described the figures as all time highs across more than 50 active chains spanning exchanges, consumer applications, financial infrastructure, and developer platforms.<\/p>\n\n\n\n

The company also noted growing institutional adoption of the OP Stack among regulated businesses.<\/p>\n\n\n\n

Bitpanda\u2019s Vision Chain is using the OP Stack to support institutional finance products aligned with Europe\u2019s MiCA and MiFID II regulations.<\/p>\n\n\n\n

Meanwhile, Japan\u2019s Mitsui & Co. Digital Commodities launched Zipangcoin, a regulated precious metals backed token, on OP Mainnet.#crypto#cryptonewshttps:\/\/coinsignals.net<\/a>https:\/\/t.me\/coinsignalpublic<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Exchange backed blockchain networks built using the OP Stack produced more than $495 million in onchain application revenue during the second half of 2025, according to...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3443","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/comments?post=3443"}],"version-history":[{"count":1,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3443\/revisions"}],"predecessor-version":[{"id":3445,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3443\/revisions\/3445"}],"wp:attachment":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/media?parent=3443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/categories?post=3443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/tags?post=3443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}