Covalent Issued CXT Token on Base, Driving DeFi and AI through Aerodrome Finance
Covalent announced that it has successfully deployed the CXT Token on Base, the Ethereum layer-2 network built by Coinbase exchange. This milestone helps Covalent continue to realize its mission of driving access to the leading decentralized data sources, as well as directly integrating into one of the top layer-2 ecosystems today.
CXT is now tradable on Aerodrome Finance through the CXT/WETH pool. Holders of CXT Token will be able to participate in DeFi activities on Base, as well as the growing AI Agent and decentralized applications on the platform.
Since its launch last year, Base has become a leading layer-2 on Ethereum. With its presence on Base, Covalent will help CXT investors reduce transaction costs and access DeFi opportunities. Base provides a low-cost environment, making it an ideal platform to expand Covalent's products.
Meanwhile, the CXT/WETH liquidity pool on Aerodrome Finance currently offers:
- Liquidity mining rewards with an initial APR of up to 100% in CXT and AERO Tokens.
- Direct trading between CXT and WETH, increasing utility.
- Users can bridge CXT to Base and use it in DeFi applications on the network.
The availability of CXT on Base also opens up opportunities to integrate Covalent's Ethereum Wayback Machine (EWM), a data retrieval solution. Additionally, leveraging Covalent's strength as a data provider for artificial intelligence, the company is well-positioned to drive the growth of the AI Agent trend on Base.
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