Velodrome Finance, the biggest decentralized alternate protocol on OP Mainnet (beforehand Optimism) by way of each complete worth locked and income, will deploy a brand new forked DEX referred to as Aerodrome later right now. The brand new alternate will function on Coinbase’s Layer 2 Base community and is about to launch with the assist of over 20 companions.
Velodrome has a complete worth locked of $194 million, confirming its place as the biggest DeFi protocol on the OP Mainnet.
In accordance with the event group, it intends to seize a good portion of each liquidity and worth alternate on the Base community, much like their operations on OP Mainnet, by leveraging elaborate DeFi incentives known as a “flywheel.”
“Velodrome’s dominance on OP Mainnet is because of its ecosystem-native liquidity layers, which have outperformed multi-chain DEXs and we intention to do the identical on Base as with Aerodrome,” Alexander Cutler, the mission’s co-founder, mentioned on the technique behind the launch.
Person incentives
The newly launched DEX plans to incentivize customers by an airdrop of its native Aero token. The drop shall be for present customers which have locked (or vote-escrowed) Velodrome (VELO) tokens in alternate for veVELO, the mission’s governance token.
On the time of Aerodrome’s launch, 40% of the Aero token provide shall be distributed to veVELO holders as veAERO.
