Base's Decentralized Exchange Offers Triple-Digit Yields to Liquidity Providers
The Base platform has introduced 24/7 stock markets that offer three-digit APRs for liquidity providers, according to Base lead Jesse Pollak. Liquidity providers on Aerodrome, the dominant decentralized exchange on Base, are earning these high yields from USDC-paired tokenized stock pools.
The tokenized stocks, represented as B20 tokens with a 'c' suffix (e.g., NVDAc for Nvidia and AAPLc for Apple), are backed 1:1 by actual shares held in regulated custody. This is distinct from synthetic stock experiments that have come and gone in crypto.
The tokenized stock pools first went live on Aerodrome in late August, with emissions APRs ranging from roughly 29.6% to 49.5% for pairs like NVDA/USDC and AAPL/USDC. The NVDA/USDC pair alone recorded over $11.2 million in 24-hour transaction volume, while across four liquidity pools Aerodrome processed approximately $103 million in trading volume shortly after the rollout.