Key Points:
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.
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.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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