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Today, we are diving into the 5th largest DEX by TVL and the leading decentralised exchange of the Base network known as Aerodrome.
$AERO is up over 1,000% (10x) in the last few months alone, what makes them stand out from the rest of the DEXs?
What is Aerodrome ($AERO)?
Aerodrome is the leading AMM Decentralised Exchange on the Base Layer 2 network that is also built by the same developers that brought you Velodrome, a superior DEX in the Optimism ecosystem. Have they created the perfect formula for a successful DEX?
The primary reason behind Aerodrome’s success is their dedication to their community. Aerodrome has designed the most rewarding DEX that gives back to its users through multiple incentives while maintaining an overall cheap, fast and secure trading experience.
How Does Aerodrome Work?
Let’s take a closer look at all the features:
Swap
For traders looking to swap their tokens on Base, whether it’s a memecoin, stablecoin or any kind of altcoin, they can experience trades with minimal slippage and competitively low fees!
Liquidity Pools (LPs)
Seamlessly provide liquidity by depositing tokens on Aerodrome and receive $AERO emissions as a reward. Different LPs will provide different APRs, for example, $USDC/$AERO currently has an incredible APR of 153.64%!
Locking
Users can lock up $AERO tokens and redeem $veAERO. $veAERO is then used to vote on which liquidity pools should earn $AERO emissions and the $veAERO holders will be rewarded with 100% of the fees and incentives of the LP they voted for!
Aerodrome Statistics
On average, every month Aerodrome will facilitate an average trading volume of $1.4B and generate over $25M in fees, all by the 188K+ users on the platform. Aerodrome is the leading protocol with the highest TVL of $670M on the Base network, they even surpass Uniswap…
Aerodrome Tokens ($AERO/$veAERO)
Aerodrome uses a dual-token mechanism to operate its ecosystem. $AERO is the utility token which is used to distribute to LP providers through emissions, while $veAERO is the governance token that operates in the form of an NFT.
Conclusion
At the time of writing, $AERO is currently trading at $1.08 with a market cap of $468M. Very recently, on April 12th 2024, $AERO created a new ATH of $2.33 and we haven’t even dipped our toes in the bull market yet. $AERO rapidly became one of the leading DEX tokens…
As the go-to DEX and liquidity hub in the Base ecosystem, Aerodrome is fully equipped to onboard the next wave of Web3 users who enter the coming bull run and with this, should come the success of the native token, $AERO…
Aerodrome Links
Disclaimer
The content provided in this article is strictly intended for informational purposes. Nothing said in this 1article is financial advice. It is important to proceed with caution and diligence when using cryptocurrencies. Always invest what you are prepared to lose and remember that you are entirely responsible for your assets and investments. The author and the publication do not endorse or recommend any of the cryptocurrencies, protocols or strategies in this article.
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