Decentralized finance (DeFi) protocol Velodrome has launched Aerodrome, a new decentralized exchange (DEX) built for Coinbase’s layer 2 blockchain Base. The new DEX promises to allow traders to swap tokens with “minimal slippage” and low fees, while also rewarding users with governance tokens that can be used for voting and at the same time potentially increase in value. Announcing the launch of Aerodrome, the team declared in a post on social media platform X that “the DeFi era on [Base] has begun”. To incentivize users of the DEX, Aerodrome will conduct an airdrop of its AERO token to existing users who hold veVELO tokens, or locked Velodrome (VELO) tokens.
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