0xGems

Most EVM L1s have a native token Base Chain doesn't There have been talks of speculation, but for now... One token is drives Base That token is $AERO And it's not just the token, but Aerodrome's been powering Base ecosystem for a minute Look at the past 30 days alone: • $13.32B in trading volume • $8.36M in fees • $7.92M in protocol revenue • $413M in Total Value Locked • 344,000 monthly active users Pair all of this with staking incentives for governance via veAERO & the team buying back tokens... As a result we're seeing nearly 50% of AERO's existing token supply locked. To understand Aerodrome's significance, we first need to look at the broader Base ecosystem. Base has established itself as one of Ethereum's most important Layer 2 networks It provides true DeFi infrastructure at scale from DEXs, lending, stablecoins, RWAs & more. They all share ONE fundamental requirement LIQUIDITY This is where Aerodrome comes into play. They're not simply competing to become another decentralized exchange, Aerodrome has positioned itself as the central liquidity marketplace for Base. And when we examine the actual numbers, it's clear how significant that position has become. According to Token Terminal, decentralized exchanges across Base processed approximately $27.26 BILLION in trading volume over the past 30 days. Of that amount, Aerodrome alone accounted for $13.32 BILLION. That's approximately 48.9% of ALL DEX trading volume on Base. For comparison, Uniswap held a 32% share, while PancakeSwap held a 11% share. These three exchanges collectively accounted for over 92% of Base's decentralized trading volume. And this dominance isn't limited to a single month. During the previous 30-day period, Aerodrome processed approximately $11.6 BILLION in trading volume. But trading volume only tells part of the story. The other core aspect to Aerodrome is the unique economic activity generated thru it's own liquidity. Over the past 30 days, Aerodrome recorded ~$8.36M in fees and $7.92M in reported protocol revenue. That's a revenue to fee ratio of ~94.7%. Let's add some perspective, Token Terminal currently ranks Aerodrome among the TOP 5 DEXs s by reported revenue in the past 30 days. And #16 among 162 decentralized applications across its broader revenue rankings. ––––– When it comes to true on-chain metrics... Aerodrome is certainly a project to keep a close eye on They've already got the narrative as being a key infrastructure player on the Base ecosystem. And unlike most projects... They got more than narrative The numbers clearly back up what they're touting. I'm expecting DeFi to make a huge surge at some point. AERO's as well positioned as any when the time comes