Aerodrome Dominates Top Base Protocols by Total Value Locked

The total value locked (TVL) in Base protocols has reached approximately $1.43 billion, according to data from DefiLlama. This figure reflects the value of assets deposited in various decentralized finance (DeFi) protocols built on the Base network, highlighting the growing adoption and utility of these platforms. Among the top contributors to this impressive figure are notable names such as AerodromeFi, Uniswap, ExtraFi, Aave, and others, which offer a wide range of DeFi services from lending and borrowing to yield farming.

Aerodrome (AERO) stands out as the clear leader in terms of TVL, commanding a significant portion of the total with $574 million locked in its protocol. Aerodrome’s dominance has been marked by a 30-day growth of 2.38%, reinforcing its role as a pivotal player in the Base ecosystem. Aerodrome’s position as a major liquidity provider on Base has attracted considerable attention from investors and users alike, contributing to its substantial TVL.

Uniswap (UNI), a widely recognized decentralized exchange (DEX), ranks second with a TVL of $173 million. However, the protocol has seen a 13.4% decline in TVL over the past 30 days, indicating some volatility in its user engagement or liquidity provision.

According to TOP 7 ICO, Extra Finance (EXTRA) follows closely behind, securing the third spot with $92.7 million in TVL. Like Uniswap, Extra Finance experienced a slight drop of 1.37% over the last month, yet it remains a key player on the Base network.

Aave and Morpho Blue Gain Momentum

Aave, $AAVE, a prominent decentralized lending protocol, has gained traction on Base with $87.3 million locked in, seeing a notable 30-day increase of 7.75%. Aave’s success demonstrates its continued appeal to users seeking lending and borrowing opportunities in the DeFi space.

Morpho Blue, with a TVL of $80.6 million, rounds out the top five Base protocols. Although it recorded a 2.21% decline over the last 30 days, Morpho Blue remains a significant component of the Base ecosystem, offering optimized lending services. Beefy Finance (BIFI) currently holds $60.6 million in TVL, with its yield optimization services playing a vital role in the Base ecosystem, despite a marginal drop of 0.1% in the last 30 days.

Overnight Finance (OVN) has demonstrated resilience with $58.4 million in TVL, marking a slight uptick of 1.2% over the past month, while Moonwell (WELL) has faced a sharper decline, dropping by 16.3% to a TVL of $51.1 million.

Cygnus Finance, a relatively smaller protocol, holds $33.3 million in TVL, showing modest growth of 0.43% over the last month. Compound (COMP), another well-known DeFi platform, rounds out the top Base protocols with a TVL of $28.6 million, though it has seen a 9% decrease in TVL over the same period.

The DeFi landscape on Base continues to evolve, with key players like Aerodrome, Aave, and Uniswap driving much of the network’s growth. However, volatility remains a factor, as demonstrated by the varied performance of these protocols over the past 30 days. As the Base network continues to develop, the performance of its top protocols will be closely monitored by both users and investors looking to capitalize on emerging trends in the DeFi space.