As a seasoned researcher with a keen interest in DeFi and blockchain technology, I find myself utterly captivated by the meteoric rise of Aerodrome. Having closely followed the crypto landscape for years, I’ve seen my fair share of ups and downs, but the trajectory of Aerodrome is nothing short of astonishing.
The value locked within Airfield’s liquidity protocol has exceeded $1 billion, thanks to a significant increase in deposits.
According to DeFiLlama’s data, Aerodrome, a decentralized exchange on the Base network, has experienced a significant increase in its TVL (Total Value Locked) over the past week, reaching an impressive milestone of $1 billion. This growth has been accompanied by a notable rise in the price of AERO, with a 23% surge observed within the last 24 hours and a more substantial 50% increase over the course of the week, placing it approximately at $1.27 per token.
Introduced in August 2023, Aerodrome now leads as the premier Decentralized Exchange (DEX) on Ethereum‘s layer-2 network, Base. Just after its debut, the platform significantly contributed to Base’s Total Value Locked (TVL) exceeding $400 million. The pace of development has picked up speed in 2024, fueled by the launch of a Base ecosystem fund in February.
According to DeFiLlama’s report dated September 27, 2024, Aerodrome Finance had the greatest total value locked at approximately $1.02 billion among all protocols operating on Base.
Currently, the Total Value Locked (TVL) on Base is approximately $2.5 billion, representing a significant increase of over 400% from its value in February 2024, which was roughly $490 million.
Over a third of Base TVL on Aerodrome
In a decentralized trading setting, Aerodrome acts as an autonomous market maker, allowing users to contribute their tokens into shared pools. By depositing cryptocurrency pairings, users will be given Liquidity Provider (LP) tokens in return.
Staking of LP tokens allows users to earn AERO as well as the governance token veAERO.
Aerodrome surpassed a staggering $1 billion in assets locked, accounting for half of Base’s total value locked. It leads the way in on-chain trading volumes for Ethereum, Bitcoin, USDC, and EURC markets. As the economic powerhouse of Base, Aerodrome is just getting started. 🥇
— Aerodrome (@AerodromeFi) September 27, 2024
On Ethereum, Bitcoin (BTC), USDC (USDC), and EURC networks, Aerodrome now boasts the largest on-chain trading volume for liquidity pools among all protocols.
In simple terms, Aerodrome holds a significant portion of Base TVL, with over one-third of total value locked in decentralized exchange (DEX) protocols. According to DeFiLlama data, even the next four most deposited protocols fail to reach $1 billion in Total Value Locked (TVL) when combined, indicating that Aerodrome’s dominance is substantial.
In the world of decentralized finance (DeFi), Aave V3 holds around $236 million worth of locked assets at present, making it one of the leading platforms. Uniswap comes in third place with a TVL (Total Value Locked) of approximately $222 million. The lending protocols Moonwell and Morpho Blue also hold significant value, with TVL amounts of $192 million and $151 million respectively, securing their places among the top five.
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2024-09-27 18:30