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 pairs Methodology

## 1. Overview

Tradeable pairs are measured as the number of unique asset pairs available for trading on Aerodrome. Direct swap routes offered by the decentralized exchange across its various liquidity products, including Stable Pools, Volatile Pools, and Slipstream, are represented by this metric. The expansion of the protocol's liquidity network, asset diversity, and market coverage is evaluated using this metric.

## 2. Data sources

- **Blockchain events**: `PoolCreated` events from `Factory` and `CLPoolFactory` contracts, covering Base and Arc chains
- **External data**: Asset metadata for asset symbols and decimal precision

## 3. Step-by-step calculation

### Component A: Pool creation tracking

- **Purpose**: Identify all liquidity pools created on the exchange
- **Logic**: `PoolCreated` events are parsed from `Factory` contracts (for V1 Stable Pools and Volatile Pools) and `CLPoolFactory` contracts (for V3 Slipstream pools). For each event, the pool address, the addresses of the two underlying assets (asset 0 and asset 1), and the pool type (Stable Pools or Volatile Pools, where applicable) are extracted. Asset symbols and decimals are joined from asset metadata to construct the trading pair name.
- **Key fields**: `pool` (pool address), `token0` (first asset address), `token1` (second asset address), `Stable Pools` (pool type flag)

### Component B: First appearance determination

- **Purpose**: Determine the deployment date for each unique trading pair
- **Logic**: The minimum block timestamp is calculated for each unique pool address to identify its first day of appearance. The data is then aggregated by day to count the number of new unique pools deployed daily.
- **Key fields**: `block_timestamp` (timing), `pool` (pool address)

### Component C: Cumulative aggregation and zero-filling

- **Purpose**: Calculate the running total of tradeable pairs over time
- **Logic**: Days with no new pool deployments are filled with zero values to ensure a continuous daily time series. A cumulative sum of the daily new pool counts is then calculated chronologically for each chain to determine the total number of tradeable pairs available on any given day.
- **Key fields**: `pair_count` (daily new pools), `tradeable_pairs` (cumulative pool count)

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

Number of unique token pairs available for trading on the exchange.

AerodromeAERO

Tradeable pairs

Tradeable pairs

Competitive landscape

Chain breakdown