The Layer 2 Ethereum network Base, incubated by Coinbase, has seen its total value locked (TVL) soar to $2 billion, marking a fivefold increase in user deposits since the beginning of the year.
Aerodrome, a decentralized exchange, is a major contributor to this growth, accounting for over $1 billion of Base’s TVL—up from just $120 million in January. This makes Aerodrome responsible for more than half of all DeFi deposits on the network.
Data from DeFiLlama highlights Aerodrome as the top decentralized exchange on Base, leading in TVL, transaction volume, and fees, outpacing prominent platforms like Uniswap and Aave.
Across all chains, Aerodrome processed $9.02 billion in on-chain swap volume last month, competing with Solana’s DEXs like Orca and Raydium, which also reported similar volumes. However, it still falls short of the larger volumes seen by Uniswap on Ethereum and PancakeSwap on BNB Chain.
Launched as a fork of Velodrome Finance on Base in September 2023, Aerodrome has quickly become a key player in facilitating on-chain swaps.
Its approach, similar to Velodrome’s on the OP Mainnet, combines DeFi incentives with a vote-escrowed governance model that allows users to stake AERO tokens for veAERO, granting them a share of protocol fees in relation to their voting power. Both exchanges leverage the ve(3,3) design from the Solidly protocol.
Litecoin is taking a major leap into the world of DeFi and Web3 with the launch of LitVM, a newly introduced Layer-2 network designed to bring smart contract capabilities to the long-standing cryptocurrency.
Binance has announced its full technical support for an upcoming upgrade to the Siacoin (SC) blockchain, scheduled for June 6, 2025.
MetaMask is making a major leap beyond Ethereum by adding support for Solana, marking its first deep integration with a non-EVM blockchain.
A significant portion of Ethereum validators are backing a proposal to nearly double the network’s block gas limit—an adjustment that could boost Layer 1 throughput without requiring a protocol upgrade.