New DeFi Platform Aerodrome Helps Base Soar More Than 50% TVL Of The Week

Key Points:

  • Aerodrome’s launch on the Base blockchain attracts $200 million in a day, boosting DeFi by 106%.
  • The total value locked in the Base network surpasses $400 million, driven by Aerodrome’s liquidity incentives.
  • The platform rewards users with AERO tokens for DeFi engagement, cementing its presence in the space.
Aerodrome, a platform specializing in token swaps with low fees and enticing rewards, has witnessed a staggering influx of $204.7 million in just one day since its launch.
New DeFi Platform Aerodrome Helps Base Soar More Than 50% TVL Of The Week

This surge has propelled the Base blockchain’s DeFi ecosystem, boasting a remarkable 106% increase in locked value.

Since Aerodrome’s debut on the Base chain, the Total Value Locked (TVL) on the Base network has soared past the $400 million mark, surpassing the zkSync Era’s $384 million, marking a remarkable 56% uptick in just a week.

Its TVL has now approached the $200 million milestone, largely due to the higher Annual Percentage Rate (APR) that has lured users to contribute liquidity.

New DeFi Platform Aerodrome Helps Base Soar More Than 50% TVL Of The Week
Source: DefiLlama

Aerodrome, a collaborative effort between Velodrome and Base developers, aims to function as a business development protocol for the Base ecosystem. Its mission encompasses supporting project launches, onboarding new tokens and projects, and generating liquidity within the ecosystem.

Emulating the remarkable success of Velodrome, Aerodrome rewards users with AERO tokens for providing liquidity, conducting swaps, or participating in governance activities.

Its innovative approach involves incentivizing users through an airdrop of its native Aero token, focusing on existing users who have locked Velodrome (VELO) tokens in exchange for veVELO, the project’s governance token.

Aerodrome introduced liquidity mining for its native governance token, AERO, upon its launch on August 29. The project allocated 10% of its initial token supply, consisting of 500 million tokens, for liquidity mining, along with a generous 40% airdrop to Velodrome’s VELO token holders.

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