Animoca Brands, one of the leading investors in Web3 and gaming ecosystems, announced in its official statement that it has purchased Aerodrome Finance (AERO) tokens.
The company reported that it has taken a position as AERO by locking its AERO tokens for the maximum period.
Aerodrome Finance is at the core of the decentralized exchange (DEX) ecosystem on the Base network, Animoca Brands stated in a statement. Aerodrome currently holds over 50% of the total decentralized exchange TVL (total value locked) on Base.
The statement included the following statements:
AerodromeFi has a structure that aligns the interests of participants around the liquidity hub. Fees and incentives are distributed to AERO holders; liquidity providers (LPs) earn AERO rewards based on votes cast by their pools; and AERO holders determine the direction of these rewards by locking their AERO tokens.
According to Animoca’s official statement, Aerodrome is also notable for its innovative token launch system called AERO Ignition (formerly Community Launches). SyndicateIO’s SYND and LitProtocol’s LITKEY projects were among the pioneers of this system.
Animoca Brands argued that Aerodrome has become a key component in the DeFi growth of the Base network, while Coinbase also adds value to the ecosystem by facilitating access to tokens listed on DEXs like Aerodrome for decentralized finance users.
*This is not investment advice.