Base TVL Approaching the $1 Billion Milestone, with Majority Concentrated in DEX
Coinbase-incubated Ethereum L2 – Base has recently seen a remarkable leap in TVL, approaching the milestone of $1 billion, with the majority of assets concentrated in the DEX – Aerodrome.
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Base’s Deposit Funds are Clearly Rising
DEX – Aerodrome is the Focus, Platform Token is the Main Contributor
Aerodrome Originated from Velodrome Fork
Since early March, Base’s TVL has almost doubled, skyrocketing from a stable $470 million to $970 million.
The core of Base’s growth lies in the decentralized exchange (DEX) – Aerodrome, which now accounts for nearly half of Base’s total value locked (TVL), contributing $424 million. The TVL of this DEX has surged from $125 million in early February to over $420 million, benefiting from increased user activity and the skyrocketing value of its native token, Aero.
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The liquidity pools of Aerodrome show that the majority of funds are concentrated in WETH-USDC, followed by USDC-AERO. Aero’s value has grown by 1392% in the past 30 days, driving up Aerodrome’s TVL. The next largest contributor is the synthetic stablecoin DOLA, which is generated by collateralizing assets in other protocols. It can easily lock in value for the ecosystem within a single blockchain, although the value source is from collateralized assets.
Aerodrome made its debut on Base in September 2023, as a fork of Velodrome Finance. Following its successful strategy on the OP mainnet, Aerodrome has since driven a significant amount of trading volume on Base, fueling its explosive growth.
With both parties focusing on promoting user participation and leveraging strategic DeFi incentives, the surge in TVL may attract more ecosystems to cultivate on Base.
Aerodrome
Base
L2
OP
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