{"id":289757,"date":"2024-08-01T14:57:52","date_gmt":"2024-08-01T14:57:52","guid":{"rendered":"https:\/\/www.techopedia.com\/?p=289757"},"modified":"2024-08-01T14:57:52","modified_gmt":"2024-08-01T14:57:52","slug":"what-is-aerodrome-finance-aero-how-does-it-work","status":"publish","type":"post","link":"https:\/\/www.techopedia.com\/what-is-aerodrome-finance-aero-how-does-it-work","title":{"rendered":"What is Aerodrome Finance ($AERO)? How Does it Work?"},"content":{"rendered":"<p>The growing popularity of <a href=\"https:\/\/www.techopedia.com\/definition\/layer-two-l2\">layer two<\/a> (L2) chains on <a href=\"https:\/\/www.techopedia.com\/definition\/32571\/ethereum-cryptocurrency\">Ethereum<\/a> (ETH) has given birth to new ecosystems of <a href=\"https:\/\/www.techopedia.com\/definition\/33409\/decentralized-application-dapp\">decentralized applications<\/a> (dApps). Some of these L2 and their dApps have become incredibly popular among crypto users.<\/p>\n<p>One such case is that of <a href=\"https:\/\/www.techopedia.com\/what-is-base-coinbase-l2-chain\">Base<\/a> L2 and its <a href=\"https:\/\/www.techopedia.com\/definition\/decentralized-exchange-dex\">decentralized exchange<\/a> (DEX) called Aerodrome Finance (AERO).<\/p>\n<p>What is Aerodrome Finance? Let&#8217;s find out.<\/p>\n<div class=\"su-note\"  style=\"border-color:#dddddd;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#f7f7f7;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<h2><span id=\"key_takeaways\">Key Takeaways<\/span><\/h2>\n<ul>\n<li>Aerodrome Finance is a decentralized exchange (DEX) on Ethereum-based Layer 2 chain Base, launched in August 2023 by the team behind Velodrome DEX.<\/li>\n<li>Aerodrome is a popular DEX on Base L2, accounting for 48.6% of the DEX volume on July 31, 2024, but has a low daily active user percentage compared to Uniswap.<\/li>\n<li>Aerodrome uses automated market maker (AMM) technology and rewards liquidity providers with AERO and veAERO tokens for staking their LP tokens.<\/li>\n<li>AERO, Aerodrome&#8217;s native token, started with a supply of 500 million tokens, with 90% locked as veAERO; it has seen significant price growth since its launch.<\/li>\n<li>Notable updates include a DNS attack in November 2023, the introduction of Slipstream for concentrated liquidity pools in March 2024, and an investment from the Base Ecosystem Fund in February 2024.<\/li>\n<\/ul>\n<\/div><\/div>\n<div>\n    <section class=\"toc-sticky w-100 bg-white \">\n        <div class=\"toc-sticky__container container\">\n            <div class=\"toc-sticky__open d-flex align-items-end\" data-bs-toggle=\"collapse\"\n                 aria-controls=\"multiCollapse1\"\n                 data-bs-target=\"#multiCollapse1\">\n                <button\n                        class=\"btn btn-primary collapse-action-btn p-1 rounded-circle\"\n                        type=\"button\"\n                >\n                    <i class=\"icon-chevron-up\"><\/i>\n                <\/button>\n                <span id=\"toc-current-title\" class=\"d-flex align-items-center\">\n                    Table of Contents\n                <\/span>\n                <span class=\"toc-main-title-permanent\">Table of Contents<\/span>\n            <\/div>\n            <div\n                    class=\"collapse my-3\"\n                    id=\"multiCollapse1\"\n            >\n                <ol class=\"StepProgress\">\n                                                                        <li class=\"StepProgress-item current\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"key_takeaways\"\n                               onclick=handleScrollToTitle(\"key_takeaways\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">Key Takeaways<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"what_is_aerodrome_finance\"\n                               onclick=handleScrollToTitle(\"what_is_aerodrome_finance\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">What is Aerodrome Finance?<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"how_does_aerodrome_work\"\n                               onclick=handleScrollToTitle(\"how_does_aerodrome_work\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">How Does Aerodrome Work?<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"aero_tokens_tokenomics_and_more\"\n                               onclick=handleScrollToTitle(\"aero_tokens_tokenomics_and_more\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">AERO Tokens: Tokenomics and More<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"allocation_of_aero_and_veaero_tokens\"\n                               onclick=handleScrollToTitle(\"allocation_of_aero_and_veaero_tokens\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">Allocation of AERO and veAERO Tokens<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"aero_inflation_and_governance\"\n                               onclick=handleScrollToTitle(\"aero_inflation_and_governance\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">AERO Inflation and Governance<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"latest_aerodrome_news\"\n                               onclick=handleScrollToTitle(\"latest_aerodrome_news\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">Latest Aerodrome News<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"aero_token_price_analysis\"\n                               onclick=handleScrollToTitle(\"aero_token_price_analysis\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">AERO Token Price Analysis<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"the_bottom_line\"\n                               onclick=handleScrollToTitle(\"the_bottom_line\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">The Bottom Line<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"faqs\"\n                               onclick=handleScrollToTitle(\"faqs\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">FAQs<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"references\"\n                               onclick=handleScrollToTitle(\"references\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">References<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                    <\/ol>\n                <div class=\"toc-sticky__container__disperse\"><\/div>\n                <div class=\"toc-sticky__btn-top justify-content-center\">\n                    <button class=\"btn btn-link d-flex align-items-center\" onclick={btnTop()}><p>Show Full Guide<\/p><img decoding=\"async\"\n                                src=\"\/wp-content\/plugins\/table-of-contents\/assets\/images\/arrow-up-circle.svg\"\n                                alt=\"arrow-up-circle\">\n                    <\/button>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/section>\n    <div class=\"toc-sticky-list\">\n        <div class=\"toc-sticky__container container\">\n            <div class=\"toc-sticky__open d-flex align-items-end\" data-bs-toggle=\"collapse\" aria-controls=\"multiCollapse2\" data-bs-target=\"#multiCollapse2\">\n                <button class=\"btn btn-primary collapse-action-btn p-1 rounded-circle\"\n                        type=\"button\">\n                    <i class=\"icon-chevron-up up\"><\/i>\n                <\/button>\n                <span id=\"toc-current-title\" class=\"d-flex align-items-center\">\n                    Table of Contents\n                <\/span>\n            <\/div>\n            <div  class=\"collapse my-3\" id=\"multiCollapse2\">\n                <ol class=\"StepProgress\">\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item current \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"key_takeaways\"\n                                   onclick=handleScrollToTitle(\"key_takeaways\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">Key Takeaways<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"what_is_aerodrome_finance\"\n                                   onclick=handleScrollToTitle(\"what_is_aerodrome_finance\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">What is Aerodrome Finance?<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"how_does_aerodrome_work\"\n                                   onclick=handleScrollToTitle(\"how_does_aerodrome_work\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">How Does Aerodrome Work?<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t\n\t\t\t\t\t\t <span class=\"show_moretoc\">Show Full Guide<\/span>\n\t\t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"aero_tokens_tokenomics_and_more\"\n                                   onclick=handleScrollToTitle(\"aero_tokens_tokenomics_and_more\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">AERO Tokens: Tokenomics and More<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"allocation_of_aero_and_veaero_tokens\"\n                                   onclick=handleScrollToTitle(\"allocation_of_aero_and_veaero_tokens\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">Allocation of AERO and veAERO Tokens<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"aero_inflation_and_governance\"\n                                   onclick=handleScrollToTitle(\"aero_inflation_and_governance\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">AERO Inflation and Governance<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"latest_aerodrome_news\"\n                                   onclick=handleScrollToTitle(\"latest_aerodrome_news\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">Latest Aerodrome News<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"aero_token_price_analysis\"\n                                   onclick=handleScrollToTitle(\"aero_token_price_analysis\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">AERO Token Price Analysis<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"the_bottom_line\"\n                                   onclick=handleScrollToTitle(\"the_bottom_line\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">The Bottom Line<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"faqs\"\n                                   onclick=handleScrollToTitle(\"faqs\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">FAQs<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"references\"\n                                   onclick=handleScrollToTitle(\"references\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">References<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                                    <\/ol>\n            <\/div>\n            <div class=\"toc-sticky__container__disperse\"><\/div>\n        <\/div>\n    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pageLegendCollapse);\n\tjQuery('span.show_moretoc').click(function(){\n\t\tjQuery('span.show_moretoc').hide();\n\t   jQuery('.ms_hidetoc').show();\n\t});\n    });\n\n    \/\/ When the user clicks on the button, scroll to the top of the document\n    function btnTop() {\n        const pageLegend = document.querySelector('#multiCollapse1');\n        document.querySelector('html').classList.remove('overflow-hidden');\n        pageLegend.classList.remove('overflow-auto');\n        pageLegend.style.height = 'auto';\n        window.scrollTo({\n            top: 0,\n            behavior: 'smooth'\n        });\n    }\n\n    const handleScrollToTitle = (id) => {\n        const el = document.getElementById(id);\n        const headerHeightDifference = window.innerWidth < 992 ? -30 : -15;\n        window.scrollTo({\n            top: el.offsetTop - 60 - headerHeightDifference - 10,\n        });\n    }\n<\/script>\n\n<h2><span id=\"what_is_aerodrome_finance\">What is Aerodrome Finance?<\/span><\/h2>\n<p>Aerodrome Finance is a DEX on Ethereum-based L2 chain Base.<\/p>\n<p>The Aerodrome DEX launched in August 2023 and was developed by the team that launched the Velodrome DEX on Optimism L2. Aerodrome has similar features to Velodrome.<\/p>\n<p>Today, Aerodrome is one of the most popular DEX on Base L2 alongside <a href=\"https:\/\/www.techopedia.com\/definition\/uniswap-uni\">Uniswap<\/a> (UNI).<\/p>\n<p>According to <a href=\"https:\/\/dune.com\/sealaunch\/dex-metrics-on-base\" target=\"_blank\">data compiled by on-chain analyst Sealaunch on Dune<\/a>, Aerodrome&#8217;s DEX volume percentage on Base stood at 48.6% on July 31, 2024, ahead of Uniswap (41.8%).<\/p>\n<p>However, Uniswap had a higher daily active user percentage on Base at 84.4% compared to Aerodrome&#8217;s 4.4%, as of July 31, 2024. Aerodrome&#8217;s low daily active user percentage and high DEX volume percentage on Base suggested that the DEX is preferred by high-volume traders and whales.<\/p>\n<p>At the time of writing, Aerodrome was the top dApp on Base in terms of <a href=\"https:\/\/www.techopedia.com\/definition\/total-value-locked-tvl\">total value locked<\/a> (TVL).<\/p>\n<p><a href=\"https:\/\/defillama.com\/chain\/Base\" target=\"_blank\">DefiLlama data<\/a> showed Aerodrome&#8217;s TVL stood at 644.5 million, as of July 31, 2024.<\/p>\n<h2><span id=\"how_does_aerodrome_work\">How Does Aerodrome Work?<\/span><\/h2>\n<p>Like Uniswap, Aerodrome is an <a href=\"https:\/\/www.techopedia.com\/definition\/automated-market-maker-amm\">automated market maker<\/a> (AMM) that uses <a href=\"https:\/\/www.techopedia.com\/definition\/liquidity-pool\">liquidity pools<\/a> to facilitate crypto trading without the need for a centralized operator.<\/p>\n<p>Liquidity pools collect tokens from users who deposit cryptocurrencies in pairs in exchange for a share of the trading fees collected by the liquidity pools.<\/p>\n<p>For example, the ETH-USDT liquidity pool on Aerodrome has ETH and USDT tokens in it. A user will have to deposit an equal dollar amount of ETH and <a href=\"https:\/\/www.techopedia.com\/definition\/tether-usdt\">USDT<\/a> to the pool. In exchange you will receive a liquidity provider (LP) token as a receipt.<\/p>\n<p>Aerodrome is different from older DEXs like Uniswap due to its unique token mechanics.<\/p>\n<p>Aerodrome liquidity providers who stake their LP tokens are rewarded a token called AERO every seven days. LP token stakers also receive a governance token called veAERO.<\/p>\n<p>veAERO token holders who vote received protocol trading fees proportional to their staked amounts.<\/p>\n<h2><span id=\"aero_tokens_tokenomics_and_more\">AERO Tokens: Tokenomics and More<\/span><\/h2>\n<p>AERO is the native token of Aerodrome Finance. As of August 1, 2024, <a href=\"https:\/\/coinmarketcap.com\/currencies\/aerodrome-finance\/\" target=\"_blank\">AERO was the 208th largest crypto by market cap<\/a>, valued at $443.9 million.<\/p>\n<p>Initially, AERO&#8217;s initial supply was set at 500 million tokens, of which 450 million or 90% were locked as veAERO tokens.<\/p>\n<h2><span id=\"allocation_of_aero_and_veaero_tokens\">Allocation of AERO and veAERO Tokens<\/span><\/h2>\n<p>Here is how 450 million veAERO were <a href=\"https:\/\/medium.com\/@aerodromefi\/aerodrome-launch-tokenomics-30b546654a91\" target=\"_blank\">allocated<\/a>:<\/p>\n<div class=\"su-note\"  style=\"border-color:#e5e54c;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#FFFF66;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<ul>\n<li>AERO tokens were first airdropped to Velodrome&#8217;s veVELO stakers in August 2023. 40% of the locked veAERO tokens were allocated for airdrops to veVELO stakers.<\/li>\n<li>21% of locked veAERO tokens were allocated for ecosystem pairs and public goods.<\/li>\n<li>14% of locked veAERO tokens were allocated to the Aerodrome team.<\/li>\n<li>10% of locked veAERO tokens were allocated to protocol grants.<\/li>\n<li>5% of locked veAERo tokens were allocated to AERO Pools votepower.<\/li>\n<\/ul>\n<\/div><\/div>\n<p>Here is how 50 million AERO tokens were allocated:<\/p>\n<div class=\"su-note\"  style=\"border-color:#e5e54c;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#FFFF66;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<ul>\n<li>8% of AERO supply was allocated for voting incentives.<\/li>\n<li>2% of AERO supply was paired with USDC and deposited to genesis liquidity pool to support AERO swaps at launch.<\/li>\n<\/ul>\n<\/div><\/div>\n<h2><span id=\"aero_inflation_and_governance\">AERO Inflation and Governance<\/span><\/h2>\n<p>AERO&#8217;s supply is not fixed. Initially, 10 million new AERO tokens were released every week. AERO emissions were designed to increase by 3% per week during the first 14 weeks after launch.<\/p>\n<p>AERO emissions were distributed to liquidity providers on Aerodrome.<\/p>\n<p>After the first 14 weeks, AERO emissions were designed to fall by 1% per week.<\/p>\n<p>When weekly AERO emissions drop under 9 million per week, veAERO holders will take control of AERO&#8217;s monetary policy.<\/p>\n<p>veAERO holders will collectively make one of three choices each week:<\/p>\n<div class=\"su-note\"  style=\"border-color:#e5e54c;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#FFFF66;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<ul>\n<li>Increase emissions by 0.01% of total supply (0.52% annualized)<\/li>\n<li>Decrease emissions by 0.01% of total supply<\/li>\n<li>Maintain current emission rate unchanged (as % of total supply)<\/li>\n<\/ul>\n<\/div><\/div>\n<p>As we mentioned earlier, veAERO holders who vote will receive AERO tokens based on their share of stake.<\/p>\n<h2><span id=\"latest_aerodrome_news\">Latest Aerodrome News<\/span><\/h2>\n<p>Here are some notable Aerodrome Finance news events.<\/p>\n<ul>\n<li>In November 2023, Aerodrome and Velodrome <a href=\"https:\/\/medium.com\/@aerodromefi\/11-29-2023-incident-report-e75ef4383939\" target=\"_blank\">experienced<\/a> a <a href=\"https:\/\/www.techopedia.com\/definition\/24201\/domain-name-system-dns\">domain name system<\/a> (DNS) attack that resulted in an estimated loss of $250,000 to users who interacted with the websites at the time. According to Aerodrome, the attacker used a <a href=\"https:\/\/www.techopedia.com\/definition\/4115\/social-engineering\">social engineering attack<\/a> to gain ownership of the account that holds domain names and route legitimate domain traffic to malicious websites.<\/li>\n<\/ul>\n<ul>\n<li>In March 2024, Aerodrome and Velodrome <a href=\"https:\/\/paragraph.xyz\/@velodrome\/slipstream\" target=\"_blank\">introduced<\/a> a new upgrade called Slipstream for concentrated liquidity pool. Slipstream is a fork of Uniswap v3 protocol.<\/li>\n<\/ul>\n<ul>\n<li>In late-February 2024, the Base Ecosystem Fund, led by CB Ventures, <a href=\"https:\/\/x.com\/AerodromeFi\/status\/1762171884249223329\" target=\"_blank\">invested<\/a> in Aerodrome Finance&#8217;s AERO token. The size of the investment was undisclosed.<\/li>\n<\/ul>\n<h2><span id=\"aero_token_price_analysis\">AERO Token Price Analysis<\/span><\/h2>\n<p>Early market data on CoinMarketCap showed AERO token trading at about $0.09 in early February 2024.<\/p>\n<p>As of August 1, 2024, AERO token price had risen to about $0.78, a 750% increase from $0.09 in early February 2024.<\/p>\n<p>AERO saw its best day on March 1, 2024, rising 91%, two days after Base Ecosystem Fund announced that it acquired a position in AERO.<\/p>\n<p>The token hit an all-time high of $2.33 on April 22, 2024.<\/p>\n<h2><span id=\"the_bottom_line\">The Bottom Line<\/span><\/h2>\n<p>DEXes like Aerodrome Finance are at the heart of their blockchain ecosystem.<\/p>\n<p>Aerodrome Finance has quickly gained popularity for its token mechanics and high-volume trading, and has becoming popular among liquidity providers looking to earn via fees.<\/p>\n<h2><span id=\"faqs\">FAQs<\/span><\/h2>\n<div class=\"man_faq_sec\" itemscope itemtype=\"https:\/\/schema.org\/FAQPage\"><section class=\"ms_faq ms_card \" ><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\">What is Aerodrome Finance?<\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\">Aerodrome Finance is a decentralized crypto exchange (DEX) on Base L2. It is one of the most popular DEXes on Base.<\/p>\r\n                <\/div><\/div><\/section>\n<section class=\"ms_faq ms_card \" ><div itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"accordionButton\"><h3 itemprop=\"name\">How to buy Aerodrome Finance?<\/h3> <\/div>\n<div class=\"accordionContent\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" style=\"display:none;\"><p itemprop=\"text\">You can buy Aerodrome Finance&#8217;s AERO token on centralized crypto exchanges like Coinbase and Binance. AERO is also available on DEXes such as Aerodrome Finance and Uniswap.<\/p>\r\n                <\/div><\/div><\/section>\n<div class=\"reference-content\">\n<div class=\"reference-heading reference-content-collapsible-heading\">\n<h2><span id=\"references\">References<\/span><\/h2>\n<\/div>\n<div class=\"reference-content-body\">\n<ol>\n<li><a href=\"https:\/\/dune.com\/sealaunch\/dex-metrics-on-base\" target=\"_blank\"><span>DEX metrics on Base &#8211; Top DEXs used and token pairs traded<\/span><\/a> (Dune)<\/li>\n<li><a href=\"https:\/\/defillama.com\/chain\/Base\" target=\"_blank\">Base &#8211; DefiLlama<\/a> (Defillama)<\/li>\n<li><a href=\"https:\/\/coinmarketcap.com\/currencies\/aerodrome-finance\/\" target=\"_blank\">Aerodrome Finance price today, AERO to USD live price, marketcap and chart<\/a> (Coinmarketcap)<\/li>\n<li><a href=\"https:\/\/medium.com\/@aerodromefi\/aerodrome-launch-tokenomics-30b546654a91\" target=\"_blank\">Aerodrome: Launch &amp; Tokenomics. Fueling Up: Base foundations have been\u2026 | by AerodromeFi<\/a> (Medium)<\/li>\n<li><a href=\"https:\/\/medium.com\/@aerodromefi\/11-29-2023-incident-report-e75ef4383939\" target=\"_blank\">11\/29\/2023 \u2014 Incident Report. Created By: Alex, Stas, Jack, Zoomer | by AerodromeFi | Medium<\/a> (Medium)<\/li>\n<li><a href=\"https:\/\/paragraph.xyz\/@velodrome\/slipstream\" target=\"_blank\">Velodrome Development Journal | Slipstream<\/a> (Paragraph)<\/li>\n<li><a href=\"https:\/\/x.com\/AerodromeFi\/status\/1762171884249223329\" target=\"_blank\"><span>Aerodrome on X<\/span><\/a> (X)<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The growing popularity of layer two (L2) chains on Ethereum (ETH) has given birth to new ecosystems of decentralized applications (dApps). Some of these L2 and their dApps have become incredibly popular among crypto users. One such case is that of Base L2 and its decentralized exchange (DEX) called Aerodrome Finance (AERO). What is Aerodrome [&hellip;]<\/p>\n","protected":false},"author":286557,"featured_media":289770,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[601],"tags":[],"category_partsoff":[],"class_list":["post-289757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Aerodrome Finance ($AERO)? How Does it Work?<\/title>\n<meta name=\"description\" content=\"Aerodrome is one of the most popular decentralized exchanges on Base L2. 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