DEX Velodrome launches fork on Base L2 network

The Velodrome Finance decentralized exchange, the largest by value of locked funds in the Optimism ecosystem (OP Mainnet), has launched a platform built on the second-layer Base solution.

According to the team, the platform, named Aerodrome, intends to capture a significant share of liquidity and value on Base, mirroring Optimism, through its own incentive system.

According to DeFi Llama, in the latest protocol TVL of Velodrome stands at about $192.7 million. The Aerodrome figure on Base has already approached $900,000.

The platform plans to conduct an Aero token airdrop. Eligible for distribution will be users who lock Velodrome (VELO) in exchange for the governance token veVELO.    

“Velodrome’s dominance on the OP Mainnet is driven by liquidity levels characteristic of the ecosystem that have outpaced many multi-chain exchanges, and we aim to do the same with Aerodrome on Base,” said The Block co-founder Alexander Katler.

The new platform operates as AMM and positions itself as a liquidity hub in the protocol.

Back in August 2022, Velodrome lost $350,000 in a theft in which the exchange blamed a former team member.