DeFi

Base

Aerodrome Volume Growth 🛫

Aerodrome leads all DEXs on @base in marketshare, excelling in concentrated liquidity and overall volume. On August 12th, it hit an all-time high with a 63.3% share of Base volume.

Aerodrome is the top DEX for trading on @base.

Some interesting thoughts here:

On first glance what stands out is that Aerodrome has more volume, but Uniswap has more DAUs. Without really seeing what's going on, it appears this means traders with size route through Aerodrome, but most people actually still use Uniswap.

Liquidity efficiency is apparently the name of the game here when setting up clAMM positions, but I wonder what's driving orders through Uniswap? Application level exclusive swap deals? Maybe Uniswap V3 holds the long tail?

Uniswap have a lot of user visits and long-tail speculation, seems like memecoins just launch on Uniswap still and even trending charts on Dexscreener are dominated by users looking at tokens on Uniswap over other DEXs.

Aerodrome have one pool with a ton of volume, which is interesting as the activity is pretty concentrated to a few wallets that change frequently (note a low maker count in the pool relative to tx count)...Some sort of arbitrage / market maker activity maybe. Speculation here however, but it's seriously impressive volume consistently sustained and gradually grown. Keen to see how the battle unfolds on base in the coming months.