Blockchain business development platform Aerodrome has reported a massive response to its launch yesterday, with a $150 million worth of deposits, in spite of all the negative publicity swirling around cryptocurrency platforms as SEC lawsuits and trials grind on.
The immediate results of Aerodrome’s launch were the subject of a tweet from crypto researcher and Messari founder Ryan Selkis on Thursday morning.
Aerodrome Trading Platform Adopts “Results Oracle” Principles
Velodrome partnered with Base to launch Aerodrome, and describes the new platform as “a business development layer for the Base ecosystem” that will generate liquidity and bring aboard new protocols.
The Aerodrome platform incentivizes its more dynamic and enterprising users. It provides AERO tokens to those who inject liquidity and undertake swaps.
Aerodrome’s site links to an article by none other than Vitalik Buterin. The man Time Magazine has called “the most influential person in crypto.”
In the July 2021 article, Buterin sets forth his vision for an ecosystem driven by startups utilizing what he calls “the results oracle.”
The results oracle, he explains, gets around some of the problems of decentralized governance by offering rewards where merited. Here lies its ingenuity and its “public good” functionality, which will endear it to users and attract legions of new ones.
It is a protocol that can send goods to an individual or organization that helped it get off the ground. Or to a smart contract that applies ingenuity to figure out how to allocate currency among deserving people or organizations.
Results Oracle Should Reward Project Tokens, Buterin Argues
Then there is what Buterin calls “a more radical idea.” The results oracle will deploy its funds to set a project token’s price floor. Buterin goes on to explain how this principle works in practice:
“If it allocates a reward of $X, and the project has a total supply of N tokens, then it publishes an open order to buy up to the entire supply of those tokens at a price of $X/N per token.”
This model allows the results oracle to reward a project as many times as may be appropriate, Buterin states.
Buterin has been bullish on the potential for what he calls “builder culture” to derive expertise from smart contracts. Such as those he pioneered in co-founding Ethereum in 2015.
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