Base broke into ninth place on TVL

On September 1, the amount of assets blocked (TVL) in Base reached $380.4 million. According to this indicator, the L2 solution rose to ninth place, according to DeFi Llama.

Over the past week, TVL has grown by 95.9%, in a day – by 88.7%.

The initial driver of the growth of blocked assets in Base was a short-lived hype around the Web3 social network Friend.Tech.

Later, the baton passed to the decentralized exchange Aerodrome, whose team is known for the popular DEX Velodrome in Optimism.

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

The developers have set a goal to concentrate a significant share of liquidity through the distribution of AERO.

The total supply of tokens is 500 million. 450 million is blocked for four years, 50 million are intended as incentives. Users who provide liquidity, conduct swaps or participate in management will be able to qualify for distribution.

Aerodrome allows AERO holders to lock up tokens from one week to four years, receiving veAERO in return, the amount of which depends on the holding period.

veAERO are available as NFTs that can be traded on third-party platforms. Tokens give you direct access to the ecosystem, eliminating the need to buy AERO.

veAERO allows you to take part in the management of the platform and set the reward levels of the pools on the DEX.

The AERO issue began on August 30th. In less than three days, the TVL of the project jumped to $202.8 million (53% of the Base figure).

In August 2022, Velodrome lost $350,000, which the exchange accused a former team member of stealing.

Since its launch, there have been four incidents on the Base network related to the loss of user funds – LeetSwap, SwirlLend, Magnate Finance and RocketSwap, according to Immunefi.