Glossary
Aerodrome
The dominant DEX on Coinbase's Base L2 — a Velodrome fork with ve-token economics designed to direct AERO emissions to the pools that pay most fees.
Aerodrome launched on Base in August 2023 as a fork of Velodrome's ve(3,3) AMM model. Liquidity providers earn AERO emissions directed via vote-escrowed locks; voters who lock veAERO direct emissions to pools and receive the trading fees generated by those pools in exchange.
The protocol is the largest single DEX on Base by TVL and trading volume, and is the focal point of the Base ecosystem's gauge politics — protocols routinely bribe veAERO holders to direct emissions to their pools.