Aerodrome β Statistical Analysis
β
β
β
β
β
3.5
With $204.6M TVL and $162.9M 24h volume (turnover 0.80x/day) generating $95.0K/day fees (~5.8 bps take rate), Aerodrome shows solid on-chain traction but remains Base-only (100% TVL) with an N/A trust score and slight near-term cooling (TVL -2.01%, volume -5.33% 1d).
Updated: Β· Data Window: 24h / 7d / 30d (varies by metric availability)
1. Market Overview
- TVL: $204.6M (24h -2.01%); CoinGecko TVL: $332.0M (a $127.4M / 1.62x gap vs this TVL read).
- DEX activity: $162.9M volume (24h), $1.73B (7d), $8.09B (30d); 1d volume change -5.33%.
- Market breadth: 329 listed coins across 462 pairs.
2. Capital Efficiency
- 24h turnover (Volume/TVL): $162.9M / $204.6M = 0.80x/day, implying relatively high capital velocity for the deployed liquidity.
- 7d implied daily turnover: ($1.73B/7) / $204.6M = 1.21x/day; 30d implied daily turnover: ($8.09B/30) / $204.6M = 1.32x/day.
- Fee yield on TVL: $95.0K / $204.6M = 4.6 bps/day; 30d fees $4.2M equals 2.05% of TVL/month (run-rate sensitive to volume).
3. Liquidity & Pair Spread
- Pair density: 462 pairs / 329 coins = 1.40 pairs per coin, suggesting a broad long-tail listing set rather than deep pair redundancy.
- With 329 assets competing for $204.6M TVL, average TVL per listed coin is roughly $0.62M (non-uniform in practice), implying liquidity is likely concentrated in a smaller subset of pairs.
- The combination of high turnover (0.80x/day) and moderate pair density (1.40) points to active routing/flow, but not necessarily uniform depthβexpect wider spreads on tail pairs vs core pairs.
4. Chain Dominance
- TVL by chain: Base = $204.6M (100%).
- Concentration risk: chain-specific liquidity and volume dependence is high; protocol performance is tightly coupled to Base market conditions.
- Upside of concentration: a single-chain focus can improve routing efficiency and reduce fragmented liquidity, supporting the observed high turnover metrics.
5. Analyst Verdict
- Monetization: fees and revenue are equal ($95.0K/day, $4.2M/30d), indicating ~100% capture of reported fee line as revenue; effective take rate is ~5.8 bps on 24h volume ($95.0K/$162.9M).
- Valuation vs activity: MCap/TVL = 0.91 and FDV/TVL = 1.83 (circulating/total supply 49.6%), implying moderate dilution overhang vs current TVL.
- Risk controls & transparency: 3 audits, but trust score N/A; near-term momentum is slightly negative (TVL -2.01% and volume -5.33% 1d) despite token price +3.46% (24h).