Velodrome DEX on Optimism sees Surged Trading Volume, Fee Income as well as Token Price

Velodrome, the largest DEX on Ethereum layer 2 Optimism, has recorded its highest all-time weekly fees of over $101,460 last week and a significantly higher weekly trading volume.

This move in all-time weekly fees and trading volume on the DEX follows Coinbase's announcement last week launching Base, another layer two network built using Optimism tech, which has sparked interest in Optimism's ecosystem.

The price of Velodrome's native token $VELO has increased 261% in the past 30 days.

Velodrome DEX is now the largest protocol on Optimism with TVL over $300 million. The protocol is developed by veDAO, the project has the ambition to reinvent Andre Cronje's ve(3,3) solution.

VeDAO is an initiative that was incubated by Information Token, with a founding mandate to engage with the Solidly ecosystem which was originally proposed by Andre Cronje. The team behind VeDAO has developed deep subject matter expertise on Solidly, the veNFT primitive, and the ve(3,3) mechanism.