Aerodrome has become the largest Bitcoin spot trading venue among decentralized exchanges on Base, accounting for 50% to 65% of the network’s DEX market share, according to Techub, which cited CryptoBriefing. The report said the exchange has attracted liquidity through cbBTC, the wrapped Bitcoin product launched by Coinbase, as well as its veAERO governance structure. It now controls most of Base’s decentralized Bitcoin spot trading volume.
Aerodrome went live on Base on Aug. 28, 2023 as a fork of Velodrome, a leading DEX on Optimism. The platform uses a MetaDEX model built around the veAERO vote-escrow governance mechanism. Under that structure, trading fees and protocol incentives are distributed directly to users. Users who lock AERO tokens receive voting power, can direct liquidity incentives, and earn a share of fees generated by the relevant pools.
Aerodrome has become the largest Bitcoin spot trading platform among decentralized exchanges on Base, holding 50% to 65% of the network’s DEX market share, according to Techub, citing CryptoBriefing.
The platform has drawn liquidity through cbBTC, Coinbase’s wrapped Bitcoin product, and its veAERO governance model. Techub said Aerodrome now controls most decentralized Bitcoin spot trading volume on Base.
Aerodrome’s position on Base
Aerodrome launched on Base on Aug. 28, 2023 as a fork of Velodrome, a leading DEX on Optimism.
How the veAERO model works
The platform uses a MetaDEX structure centered on the veAERO vote-escrow governance system, which distributes trading fees and protocol incentives directly to users. Users who lock AERO tokens receive voting rights, can decide where liquidity incentives go, and earn a share of fees generated by those pools.
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