$AERO remains the clearest proxy to bet on the growth of the @base ecosystem.

- 30 day DEX volume is currently $11.74B, with weekly volume up +85%
- Aerodrome's Slipstream has built a real foothold in euro-stablecoin FX, processing close to $10B in 30-day volume.
- Every dollar of protocol fee revenue routes to veAERO holders.
- $AERO's valuation is not stretched given the flow (9.3x P/S and 6.7x P/F)
- @coinbase just added 50x perps to the Base App via Hyperliquid and launched a $1M accelerator for trading/payments/agent apps.

Base is turning into a trading hub, and Aerodrome owns the spot side of the volume.

None of this is priced in.

https://x.com/Flowslikeosmo/status/2091895310234862021