Aerodrome Finance’s AERO Witnesses 127% Surge After Token Acquisition by CB Ventures
Posted: February 27, 2024 10:19 AM Updated: February 27, 2024 10:19 AM
Correction and fact check date: February 27, 2024, 10:19 AM
briefly
Base Ecosystem Fund acquires AERO, the native token of liquidity protocol Aerodrome 127% soar Within 24 hours.
Coinbase Ventures’ Base Ecosystem Fund, the investment arm of cryptocurrency exchange Coinbase, has acquired liquidity protocol Aerodrome’s native token AERO. The specific acquisition amount was not disclosed. Aerodrome, the largest protocol on the Base blockchain, has a market share of over 30% and a total value locked (TVL) of $132 million.
Base Ecosystem Fund, led by CB Ventures, was established to invest in next-generation on-chain projects being developed on Base. The latest investment is consistent with the shared goal of shaping Base’s future landscape through collaborative efforts, Aerodrome said in a post on social media platform X.
Following the investment, liquidity protocol Aerodrome Finance’s native token AERO has experienced a surge of over 127% in 24 hours and is currently trading at $0.22. That’s a significant increase from yesterday morning’s value of less than 10 cents. According to data from CoinMarketCap.
Aerodrome Finance is an Automated Market Maker (AMM) designed to act as a central liquidity hub based on a Layer 2 network. It integrates a liquidity incentive engine, vote lock governance model and provides a user-friendly experience. Aerodrome inherits the latest features of the decentralized cryptocurrency exchange and Velodrome V2 protocol.
Enhance early-stage projects with basic ecosystem funding
Base Ecosystem Fund is an early-stage project operating on the incubated Base network, a layer 2 scaling solution for Ethereum with the primary goal of serving as a hub for Coinbase’s on-chain products while maintaining an open ecosystem accessible to all developers. Supports.
The latest investment follows a series of investments the Base Ecosystem Fund has made throughout the past year in a variety of projects, including Avantis, BSX, Onboard, OpenCover, Paragraph and Truflation.
The recent acquisition of AERO from Aerodrome marks a strategic move by the Base Ecosystem Fund to shape the evolving decentralized finance (DeFi) landscape and has sparked the token’s meteoric rise.
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Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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alice davidson
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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