Liquidity providers deposit funds into Aerodrome and stake their LP tokens to receive AERO tokens in proportion to their share of the votes (token incentives).

Aerodrome is a non-custodial exchange protocol built on Base. Aerodrome was launched by the Velodrome team in 2023.

AERO tokenholders own and govern the protocol. They vote which pools they wish to earn trading fees from (revenue), while the pools' unstaked liquidity providers earn the remainder of the trading fees (supply-side fees).

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Aerodrome

# Aerodrome Tradeable assets Methodology

## 1. Overview

Tradeable assets measures the total number of unique assets available for trading across Aerodrome V1 and Aerodrome V3. This metric reflects the breadth of the protocol's market coverage and its ability to attract diverse token listings. It is determined by tracking the deployment of new liquidity pools and identifying the unique underlying assets associated with those pools.

## 2. Data sources

- **Blockchain events**: `PoolCreated` events from `Factory` and `CLPoolFactory` contracts, covering Base and Arc
- **External data**: Asset metadata for symbol and decimal identification

## 3. Step-by-step calculation

### Component A: Trading pair extraction

- **Purpose**: Identify all liquidity pools and their constituent assets deployed on the protocol
- **Logic**: `PoolCreated` events are parsed from `Factory` (Aerodrome V1) and `CLPoolFactory` (Aerodrome V3) contracts. The contract addresses for `token0` and `token1` are extracted from each event to map every asset that has been initialized within a trading pair.
- **Key fields**: `token0_address`, `token1_address`, and `block_timestamp`

### Component B: First appearance identification

- **Purpose**: Determine the date each unique asset was first made available for trading
- **Logic**: A distinct list of all token addresses is compiled from the extracted trading pairs. The earliest timestamp associated with each unique asset address is identified. This timestamp is truncated to a daily grain to establish the specific day the asset was introduced to the protocol.
- **Key fields**: `token_address` and `block_timestamp`

### Component C: Cumulative aggregation and normalization

- **Purpose**: Calculate the growth of total tradeable assets over time
- **Logic**: The number of new unique assets is calculated for each day based on their first appearance. A cumulative sum of these daily counts is performed, partitioned by chain, to represent the total inventory of tradeable assets available at any historical point. Zero-filling is applied to maintain a continuous daily time series.
- **Key fields**: `tradeable_assets` and `timestamp`

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Number of unique tokens tradeable on the exchange.

AerodromeAERO

Tradeable assets

Tradeable assets

Competitive landscape

Chain breakdown