Covalent’s CXT Token Launches on Base, Powering DeFi and AI via Aerodrome Finance
Covalent is excited to announce the deployment of the CXT token on Base, Coinbase’s Ethereum Layer 2 built on the OP Stack. This milestone brings Covalent one step closer to its mission of advancing decentralized data accessibility while integrating deeply with one of Ethereum’s most prominent Layer 2 ecosystems.
CXT is now live on Aerodrome Finance, where users can trade or provide liquidity in the CXT/WETH pool. This launch creates new opportunities for CXT holders to engage with DeFi on Base, reducing barriers to participation and opening access to the thriving ecosystem of AI and AI agents and decentralized applications being built on Base.
Why Base?
Base has quickly become a standout Ethereum Layer 2 solution since its launch last summer. By bridging the CXT token to Base, Covalent opens up new opportunities for its community, offering reduced transaction costs and effortless access to the DeFi ecosystem. Base provides a streamlined and cost-efficient environment, making it an ideal platform for expanding user accessibility in Covalent’s ecosystem.
Expanding DeFi Opportunities with Aerodrome
The Aerodrome Finance CXT/WETH liquidity pool provides:
Liquidity Rewards: There is an initial boost of over 100% APR, supported by CXT incentives provided by Covalent and emissions in Aerodrome’s native AERO token.
Seamless Swaps: Trade CXT and WETH directly on Base, enhancing utility and accessibility.
Bridging Access: Ethereum L1 users can bridge their CXT to Base via the canonical bridge, enabling participation in DeFi applications on Base.
Beyond Trading: Enabling a Decentralized Future
The CXT launch on Base also supports Covalent’s broader vision through the Ethereum Wayback Machine (EWM). The EWM Light Client enables everyday users to validate Ethereum’s historical data using commodity hardware, ensuring decentralized and verifiable data access, which will also later be deployed on Base.
With Base’s increasing prominence as a platform for AI agents, Covalent is positioning itself at the intersection of decentralized data and AI innovation, enabling participants to power the next generation of applications.
