Aerodrome Finance has made a major impact on Base, the Layer 2 Ethereum network developed by Coinbase, funneling over $1 billion into the platform.
Aerodrome Finance has funneled over $1 billion into Base, a Layer 2 Ethereum network nurtured by Coinbase, claiming more than half of its $2 billion total value locked (TVL).
As the frontrunner in Base's DeFi ecosystem, Aerodrome outshines other decentralized exchanges in TVL,… pic.twitter.com/HOOHkjqpv5
— Kyledoops (@kyledoops) October 3, 2024
This accounts for more than half of Base’s total value locked (TVL), which stands at $2 billion, solidifying Aerodrome’s position as the leading decentralized exchange (DEX) within Base’s growing DeFi ecosystem.
AERODROME TAKES THE LEAD WITH $1 BILLION IN DEPOSITS ON BASE
Aerodrome is dominating the DeFi game on Base, hitting over $1 billion in deposits—more than half of the network’s $2 billion total value locked.
Launched last September as a fork of Velodrome Finance, it’s outpacing… pic.twitter.com/MepdCZWZEw
— IBC Group Official (@ibcgroupio) October 3, 2024
Aerodrome Makes Strong Progress, Surpassing Other DEX On Base
Since its launch in September as a fork of Velodrome Finance, Aerodrome has quickly surpassed other decentralized exchanges on Base in terms of TVL, trading volume, and fees generated. In fact, it now outshines even major platforms like Uniswap and Aave in these key metrics, despite still trailing larger players like Uniswap and PancakeSwap when it comes to total volume across all networks.
Aerodrome’s performance highlights the power of strategic planning and community-driven incentives. Last month, the platform recorded an impressive $9.02 billion in on-chain swap volume, showcasing its rapid growth and increasing popularity among DeFi users. While Aerodrome may not yet match the overall scale of some of its larger rivals, it is carving out a significant role on the Base network.
With its strong performance and growing influence within Base’s DeFi landscape, Aerodrome is proving that newer platforms with well-executed strategies can compete with, and in some cases, surpass established giants in the decentralized finance world.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: bestforbest/123RF // Image Effects by Colorcinch
