Aerodrome Token Swap Platform Surges, Locking in $204.7 Million in Just One Day, Boosting Base Blockchain’s DeFi Ecosystem by 106%

Aerodrome Token Swap Platform Surges, Locking in $204.7 Million in Just One Day, Boosting Base Blockchain’s DeFi Ecosystem by 106%

Crypto News – Aerodrome, a specialized platform for low-fee token swaps with enticing rewards, has experienced an astonishing influx of $204.7 million within just one day of its launch.

This surge has significantly propelled the Base blockchain‘s DeFi ecosystem, boasting an impressive 106% increase in locked value.

Since its introduction on the Base chain, the Total Value Locked (TVL) within the Base network has surged beyond the $400 million milestone, surpassing the zkSync Era’s $384 million, marking an extraordinary 56% increase in just a week.

This remarkable growth is primarily attributed to the higher Annual Percentage Rate (APR) that has attracted users to provide liquidity.

Aerodrome, a collaborative initiative between Velodrome and Base developers, is designed to serve as a business development protocol for the Base ecosystem. Its mission encompasses supporting project launches, onboarding new tokens and projects, and fostering liquidity within the ecosystem.

Taking inspiration from the impressive success of Velodrome, Aerodrome incentivizes users by rewarding them with AERO tokens for contributing liquidity, executing swaps, or participating in governance activities.

A notable aspect of its innovative approach is the airdrop of its native Aero tokens, particularly targeting existing users who have locked Velodrome (VELO) tokens in exchange for veVELO, the project’s governance token.

Upon its launch on August 29, Aerodrome introduced liquidity mining for its native governance token, AERO, allocating 10% of its initial token supply, which consists of 500 million tokens, for liquidity mining. Additionally, the project generously distributed a 40% airdrop to Velodrome’s VELO token holders.