Bitcoin
Bitcoin (BTC)
$75,835.00 0.91473
Bitcoin price
Ethereum
Ethereum (ETH)
$2,901.10 2.84268
Ethereum price
BNB
BNB (BNB)
$595.36 -0.17655
BNB price
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$199.71 5.5862
Solana price
XRP
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$0.548069 -1.30673
XRP price
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$0.000019 0.5917
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Pepe
Pepe (PEPE)
$0.0000107 3.06719
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Bonk
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$0.0000225 0.6521
Bonk price
Bitcoin
Bitcoin (BTC)
$75,835.00 0.91473
Bitcoin price
Ethereum
Ethereum (ETH)
$2,901.10 2.84268
Ethereum price
BNB
BNB (BNB)
$595.36 -0.17655
BNB price
Solana
Solana (SOL)
$199.71 5.5862
Solana price
XRP
XRP (XRP)
$0.548069 -1.30673
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000019 0.5917
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000107 3.06719
Pepe price
Bonk
Bonk (BONK)
$0.0000225 0.6521
Bonk price
Bitcoin
Bitcoin (BTC)
$75,835.00 0.91473
Bitcoin price
Ethereum
Ethereum (ETH)
$2,901.10 2.84268
Ethereum price
BNB
BNB (BNB)
$595.36 -0.17655
BNB price
Solana
Solana (SOL)
$199.71 5.5862
Solana price
XRP
XRP (XRP)
$0.548069 -1.30673
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000019 0.5917
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000107 3.06719
Pepe price
Bonk
Bonk (BONK)
$0.0000225 0.6521
Bonk price
Bitcoin
Bitcoin (BTC)
$75,835.00 0.91473
Bitcoin price
Ethereum
Ethereum (ETH)
$2,901.10 2.84268
Ethereum price
BNB
BNB (BNB)
$595.36 -0.17655
BNB price
Solana
Solana (SOL)
$199.71 5.5862
Solana price
XRP
XRP (XRP)
$0.548069 -1.30673
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000019 0.5917
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000107 3.06719
Pepe price
Bonk
Bonk (BONK)
$0.0000225 0.6521
Bonk price

Aerodrome launch pushes Base TVL past $400m

aerodrome-launch-pushes-base-tvl-past-400m
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Aerodrome launch pushes Base TVL past $400m

The total value locked (TVL) on the Base layer-2 network spiked to more than $400 million since the launch of the Aerodrome decentralized exchange.

The most recent information from DefiLlama shows that the TVL of Base, a layer 2 Ethereum (ETH) network developed at Coinbase, increased by more than 56% to reach $405.66 million in the past week.

This increase was powered mainly by the introduction of Aerodrome, a new trading and liquidity marketplace, on the network.

Aerodrome got off to a sluggish start when it launched on Aug. 28. It brought in less than $5 million in liquidity over the course of its first two days. However, since Aug. 31, deposits started to grow, eventually reaching more than $170 million in just 24 hours.

With a TVL of $189.6 million, Aerodrome now accounts for nearly half of the TVL on Base. It has also enabled the network to jump ahead of zkSync Era to become the third-ranked L2 in terms of TVL after Arbitrum and Optimism (OP).

Aerodrome launch pushes Base TVL past $400m - 1
L2 TVL ranking | Source: Dune

What is Aerodrome?

Aerodrome is a fork of Velodrome Finance, the largest DEX on Optimism in terms of revenue and TVL. Speaking to the media in the aftermath of Aerodrome’s most recent surge, the Velodrome development team described Aerodrome’s performance as a “validation” of its belief that ecosystem native DEXs can thrive.

Solidly, the decentralized exchange on which Velodrome and Aerodrome are based was heavily criticized upon its first introduction, when faults in its code and issues with its token incentives structure drove customers and liquidity providers away. However, with Aerodrome, the Velodrome team claims they have fixed Solidly’s flaws.

Velodrome had a TVL of $163.36 million at the time of writing, according to DeFiLlama. This is more than $26 million lower than Aerodrome, although due to its longevity, Velodrome has a much higher annualized revenue at $36.67 million, compared to Aerodrome’s $2.6 million.