{"id":95588,"date":"2024-10-03T01:48:59","date_gmt":"2024-10-03T05:48:59","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=95588"},"modified":"2024-10-03T01:49:16","modified_gmt":"2024-10-03T05:49:16","slug":"aerodrome-surpasses-1b-in-leading-defi-on-base","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/aerodrome-surpasses-1b-in-leading-defi-on-base\/","title":{"rendered":"Aerodrome Surpasses $1B in Deposits, Leading DeFi on Base"},"content":{"rendered":"\n

Base, a Layer 2 Ethereum network<\/a>, has reached $2 billion in total value locked (TVL), with decentralized exchange Aerodrome contributing over $1 billion.<\/p>\n\n\n\n

\"Aerodrome
Aerodrome Surpasses $1B in Deposits, Leading DeFi on Base<\/figcaption><\/figure>\n\n\n\n

Base, a Layer 2 Ethereum network currently being incubated at Coinbase, experienced a significant increase in its total value locked (or user deposits) to $2 billion. This amount is more than five times the network's deposits year-to-date.<\/p>\n\n\n\n

Aerodrome, a decentralized exchange, contributes over $1 billion in deposits, nearly half of Base's TVL. This figure has increased from $120 million in January. Its deposits account for over 50% of the total TVL in the DeFi ecosystem on Base.<\/p>\n\n\n\n

DeFiLlama data indicates that Aerodrome is the most significant decentralized exchange protocol on Base, surpassing DeFi heavyweights such as Uniswap and Aave regarding volume, fees, and total value locked.<\/p>\n\n\n\n

In terms of on-chain swap volume, The Block's data dashboard indicates that Aerodrome processed $9.02 billion last month, which is comparable to Solana DEXs such as Orca and Raydium, which each recorded volumes in the $9-$10 billion range.<\/p>\n\n\n\n

This analysis is conducted across all chains. Nevertheless, Aerodrome's volume is lower than other platforms, including Uniswap (on Ethereum mainnet<\/a>) and PancakeSwap (on BNB Chain).<\/p>\n\n\n\n

In September 2023, the development team at Velodrome Finance (a decentralized exchange on OP Mainnet) introduced Aerodrome on Base as a forked variant.<\/p>\n\n\n\n

Subsequently, it has enabled numerous on-chain exchanges on the Base network. This method is comparable to the strategy employed on the OP Mainnet with Velodrome, which entails implementing a series of decentralized finance incentives and vote-escrowed governance.<\/p>\n\n\n\n

This system encourages users to stake the AERO governance token in exchange for veAERO. This additional token\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> grants holders the right to receive a portion of the protocol fees in proportion to their ballots.<\/p>\n\n\n\n

Aerodrome and Velodrome are variants of Solidly that use Andre Cronje's ve (3,3) design.<\/p>\n","protected":false},"excerpt":{"rendered":"

Base, a Layer 2 Ethereum network, has reached $2 billion in total value locked (TVL), with decentralized exchange Aerodrome contributing over $1 billion. Base, a Layer 2 Ethereum network currently being incubated at Coinbase, experienced a significant increase in its total value locked (or user deposits) to $2 billion. This amount is more than five […]<\/p>\n","protected":false},"author":36,"featured_media":95589,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[19883,17393,197],"class_list":["post-95588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1b","tag-aerodrome","tag-defi"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/10\/aerodrome.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/95588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=95588"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/95588\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/95589"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=95588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=95588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=95588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}