Aerodrome Finance

Aerodrome Finance is a decentralized exchange and automated market maker built natively on Base, the Ethereum layer-2 network developed by Coinbase. It aims to function as Base's central hub for liquidity, meaning it tries to make it easier for other protocols on Base to attract and retain the token pools that traders need to swap assets. The project inherits its design from Velodrome V2, a similar liquidity infrastructure protocol on the Optimism network.

Aerodrome uses an automated market maker model, where liquidity providers deposit token pairs into pools that algorithms use to price trades rather than relying on a traditional order book. The AERO token sits at the center of a vote-lock governance system: holders can lock their tokens to receive voting power, which they then direct toward specific liquidity pools to determine how token emissions are distributed as incentives to those pools. The protocol runs on Base, which handles its own consensus and settlement, so AERO itself has no independent consensus algorithm.

The data stored for this asset does not include a direct fee-revenue figure, so fee-based measures are not available on this page. Aerodrome generates trading fees from swap activity across its pools, with portions flowing to liquidity providers and to veAERO voters who direct emissions, but the specific fee rates and distributions are not represented in the figures stored here. What the data does show is a 24-hour turnover ratio of 5.498675 percent and a 30-day average turnover ratio of 6.971767 percent, both measured as volume relative to market capitalization, which gives a rough sense of trading activity relative to the asset's size.