The Base network, a Layer 2 Ethereum network on Coinbase, saw a significant increase in total locked value (TVL) following the launch of a decentralized exchange called Aerodrome. The TVL of the Base network has doubles reaching $380 million. According to DeFiLlama, this TVL data shows that the network has locked more than double the assets compared to the amount recorded on August 28th when Aerodrome launched. Aerodrome itself contributes over $200 million to Base’s total TVL.

Base TVL doubles to $380 million. The Base network went public in early August and has now become the fourth most valuable Layer 2 blockchain in terms of TVL, following other networks like Arbitrum One, Polygon, and OP Mainnet. Furthermore, the project team is actively making daily improvements in their pursuit of excellence.

Alexander Cutler, co-founder of Aerodrome, commented, “The growth has been exceptional and is a validation of our thesis that ecosystem-specific DEXs can thrive.”

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Liquidity increased on Base

The development team at Velodrome Finance, a decentralized exchange built on the OP network, collaborated with 20 launch partners to introduce Aerodrome as a forked version of Base earlier this week. The team’s goal is to increase liquidity on the network and process a significant portion of transactions on-chain. This approach aligns with the strategies of Velodrome and OP Mainnet, both of which involve utilizing decentralized financial incentives.

Cutler added, “Before our launch, the liquidity landscape on Base was fragmented, and the DeFi ecosystem was lacking. We’ve helped facilitate over 20 partners joining Base, and they have also contributed to fostering a liquidity explosion within the ecosystem.”

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