- Base is a layer 2 blockchain that launched in August. But the TVL is on a massive increase. It is surpassing many layer 1 blockchains.
- The Base TVL is now more than $400 million. Furthermore, there are chances of more increase.
Base is a layer 2 blockchain taking the whole crypto industry by storm. In fact, it shows no sign of stopping after reaching some crazy new heights. Recently, Base TVL Increased by a good margin, causing excitement among community members.
Base TVL Increase By Over $400 Million After Aerodrome Partnership
- Coinbase’s Base TVL Increased by a massive over $400 million after bringing Aerodrome to their platform. Apparently, the shift was a significant increase in total value locked (or user deposits) following the launch of a new decentralized exchange called Aerodrome. Note that Base is a layer 2 blockchain that incubates itself in the Coinbase ecosystem.
- One of the most important things about this new development was that Base TVL wasn’t at the same level as early as 28th August. Apparently, this only increased after their new Aerodrome integration. Nevertheless, it shows how much partnerships can do for a newly launched layer 2 blockchain. According to DeFiLlama, the network’s TVL surpassed $400 million, double the amount of network deposits the layer 2 protocol had on Aug. 28. Furthermore, the most important thing is that Aerodrome contributes to half of Base TVL.
Aerodrome Contributes to Over Half of Base TVL
- The Aerodrome on-boarding to the Base network is nothing short of powerful. So, this new integration means Aerodrome now contributes to more than half of the Base TVL. Before this move, the Base TVL was hovering around a more than $190 million range. Nevertheless, this new integration on Base means an increase.
- According to a popular analysis platform, the Aerodrome accounts for nearly half of Base’s TVL, contributing $200 million to the total $400 million. In fact, the best thing about this move is that it now makes Base the fourth most valuable Layer 2 blockchain in terms of TVL. Only other layer 2 protocols like Arbitrum One, Polygon, and OP Mainnet surpassed Base on this metric.
Aerodrome Aim to Boost Liquidity on Base
- According to the officials of the Aerodrome network, they claim they aim to boost liquidity for the Base blockchain. Apparently, the introduction of Aerodrome on the Base Network happened as a forked version in collaboration with 20 launch partners.
- So, this partnership happened solely to fix the liquidity issues on Base. According to Aerodrome officials, they said. “Prior to our launch, the liquidity landscape on Base was fractured and the DeFi ecosystem incomplete. We’ve now helped to onboard over 20 partners to Base and they’ve helped bring an explosion of liquidity to fuel the ecosystem.”
Conclusion
The Base TVL increased by a wide margin after the layer 2 blockchain partnered with another decentralized solution, Aerodrome. Apparently, this new integration was of enormous benefit to the Base ecosystem. It significantly improved the platform’s liquidity and, subsequently, the Base TVL. Furthermore, according to the development team of Aerodrome, one of the primary reasons for the partnership was to increase Base TVL.
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