In the vigorous development of blockchain technology, the rise of Layer2 networks is undoubtedly one of the most eye-catching highlights in recent years. Among them, Base network, incubated by Coinbase, has shown astonishing growth since early March, with the total locked value (TVL) soaring to nearly $1 billion, doubling from $470 million at the beginning of March. This achievement not only reflects the strong attraction of the Base network but also demonstrates the enormous potential of decentralized finance (DeFi).
In particular, the decentralized exchange Aerodrome has taken a dominant position in the Base network. According to DeFiLlama's data, Aerodrome, with a TVL of $424 million, has become a major component of Base TVL. Since early February, Aerodrome's TVL has surged from over $125 million to over $420 million, thanks to the increase in user activity and the significant appreciation of its native Aero token value.
Further reports indicate that the value of the AERO token achieved a remarkable 77% increase after CB Ventures led the undisclosed stake acquisition of Aerodrome Finance. This not only highlights Aerodrome's leading position as the largest protocol on the Base blockchain but also reflects the market's recognition and support for its long-term value. As a Layer2 network built by Coinbase, Base has accumulated a TVL of $420 million since its launch in June, demonstrating its enormous development potential and market appeal.
This article will delve into the competitive background of Layer2 networks and the specific content of the Aerodrome project, analyzing its unique position in the current blockchain technology wave and its future development prospects, in order to provide readers with in-depth and accurate analysis.
Exploring a New Milestone in Ethereum Layer2 Networks: The Rise of Aerodrome and Optimism's Superchain Plan
With the rapid growth of Ethereum Layer2 (L2) networks, a new blockchain revolution is quietly unfolding. Developers and user communities are increasingly turning to L2 networks, seeking lower transaction fees (gas fees), faster transaction confirmation speeds, and shared security mechanisms. Data from the past three months shows that the daily transaction volume of L2 networks has exceeded twice that of the Ethereum mainnet, and the total locked value (TVL) of Optimism and Arbitrum accounts for 11% of Ethereum's Layer1 TVL.
In the L2 ecosystem, while cross-chain decentralized exchanges (DEX) face challenges in generating significant impact, ecosystem-centric protocols such as Optimism's Velodrome have proven their importance as growth engines for emerging ecosystems. Velodrome, as a leading L2 DEX, with approximately $250 million TVL and over $5.9 billion in cumulative trading volume, plays a central role in the growth of the Optimism liquidity ecosystem.
Against this backdrop, the Base network urgently needs its own Velodrome—Aerodrome. As L2 networks face Ethereum's scalability challenges, fragmented user experience has become another major obstacle. In order to achieve interoperability, scalability, and seamless user experience across L2 ecosystems, Optimism is building a superchain—a shared security, communication, and infrastructure development L2 network environment to achieve global-scale applications.
As the two cornerstones of this vision, the Optimism mainnet and Coinbase's Base network—a secure, low-cost, and developer-friendly Ethereum L2 network built on the OP stack—are developing underlying technologies to support a unified superchain experience. This is not only crucial for the construction of the OP stack chain and ecosystem but also key to the ecosystem's economic and business development.
In this context, we are excited to announce Aerodrome—an initiative designed to run on Base, representing the latest advancements in ve(3,3) technology. It will introduce innovative features such as Night Ride UI, centralized liquidity, and dynamic AERO FED, and serve as the commercial and liquidity support layer of the Base ecosystem, driving project launches and the introduction of next-generation protocols.
Both the Optimism and Base ecosystems urgently need native solutions to meet their liquidity needs, support economic development, and fund public goods. Aerodrome has emerged in response to this demand, aiming to become the center of liquidity and public goods on Base, maximizing the potential for project launches and development, and helping to build the most prominent on-chain user guidance engine of the future.
Aerodrome: Charting a New Course, Exploring the Future of Token Economics
The Core Engine of the Base Ecosystem
Aerodrome Finance is expected to be launched on Base in collaboration with approximately 20 partners, immediately establishing its position as the primary liquidity engine and core of the ecosystem. Based on the latest Velodrome v2 technology stack, Aerodrome will introduce innovative features including centralized liquidity, automatic voting, and an integrated veNFT market. In addition, in close collaboration with the Base team, Aerodrome has designed a set of directly embedded public product jet engines, with 25% of the initial voting rights specifically reserved for ecosystem goods, to enhance the liquidity of key assets and support public goods financing (PGF) and voting rights, making $AERO the core driving force of the ecosystem.
The Landing Center for Liquidity
Aerodrome will serve as the landing center for protocols wishing to deploy on Base, providing a capital-efficient way to quickly establish deep liquidity. By locking veAERO and providing incentives for veAERO voters, the protocol can attract AERO emissions to its pools. As a reward for voting, veAERO holders receive all transaction fees and incentives from their selected pools, creating a self-balancing flywheel that rewards the highest-yielding participants.
Aerodrome's Launch Parameter Optimization Strategy
Aerodrome's launch parameters have been carefully optimized to incentivize early participants while ensuring a sustainable long-term development trajectory. The initial supply is set at 500 million AERO, with 450 million (90%) being locked as veAERO.
veAERO Distribution Plan: Promoting the Healthy Development of the Ecosystem
veVELO Holder Airdrop: As part of the top DeFi community, veVELO holders will receive 40% of the initial supply based on their V2 veVELO balance ratio, strengthening the value of the Base ecosystem.
Ecosystem Pools and Public Goods Fund: Specific veAERO voting rights are used to support key currency pairs, such as WETH-USDC and cbETH-WETH, with transaction fees contributing to the PGF to support the development of the underlying network.
Aerodrome Team and Protocol Subsidies: Ensuring Long-Term Ecosystem Health
Aerodrome contributors will receive veAERO with a vesting period of 2-4 years, ensuring their commitment to the protocol and the long-term health of the entire ecosystem. Additionally, top protocols actively participating in the Aerodrome flywheel will receive veAERO voting rights subsidies, bringing long-term value to partners.
AERO Pool and Aviation Allocation: Supporting Liquidity and Partner Development
Part of the veAERO is specifically used to vote on AERO token pairs, supporting healthy liquidity levels for the protocol. AERO tokens will be strategically used to incentivize ecosystem partners or attract additional votes for key liquidity pools.
Aerodrome Emission Plan: Accelerating Ecosystem Liquidity Growth
AERO emissions will start at 10 million AERO per cycle (week) and follow adjustments in three stages, gradually increasing from the launch phase to gradually decreasing in the cruising phase. Ultimately, the currency policy will be jointly determined by veAERO voters through the Aero FED system, accelerating the growth of liquidity in the Aerodrome ecosystem and providing strong economic momentum for the Base network.
In the coming weeks, Aerodrome will announce the list of partners taking off together, jointly committed to bringing liquidity, incentives, and integration, and driving the development of the Base economy.
Leading the Future of Blockchain: The Coordinated Growth of Aerodrome and the Layer2 Ecosystem
As Layer2 technology continues to mature and expand, we foresee an increasingly prosperous and competitive ecosystem taking shape. Projects like Aerodrome play a crucial role in this process, injecting new vitality and momentum into the decentralized finance field through innovative technology and strategies. These advancements will not only drive the iterative updates of blockchain technology but also create unprecedented value and opportunities for users and developers.
Looking ahead, the flourishing development of the Layer2 ecosystem heralds the widespread application and popularization of blockchain technology, accelerating the global transition to decentralized finance. In this process, projects like Aerodrome will continue to push the boundaries of technology, promoting the health and sustainable development of the ecosystem. For investors and users, this not only means a richer array of choices and higher-quality services but also signifies more opportunities for participation and potential returns.
In conclusion, the development of the Layer2 ecosystem will be the driving force behind the continuous progress and innovation of the blockchain industry, bringing broader perspectives and endless possibilities to all participants. As technology continues to evolve and the ecosystem matures, we look forward to seeing more innovative projects like Aerodrome rise, collectively propelling the future development of blockchain technology.
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