Animoca Brands, the company behind The Sandbox (SAND), has announced a new investment. While the news may not immediately impact the SAND Coin price, it is expected to provide support in the medium to long term.
Breaking News on SAND Coin
Animoca Brands has invested in AERO. This announcement is significant due to the lack of notable developments from the SAND Coin front for some time. The Base network, launched by Coinbase, is currently the most actively used Ethereum layer 2 solution. Although it does not yet have its own token, many altcoins operating on the network during the bullish phase are anticipated to experience substantial growth. The increasing number of active users and TVL growth positions Base as a significant investment alternative.
The company behind SAND Coin also invested in Aero, a liquidity hub that holds half of the TVL on the Base network. It began earning income by locking its assets as veAERO afterward.
“The reason for this action is to align the interests of participants in the AerodromeFi liquidity hub: Fees and incentives are distributed to veAERO holders. LPs receive AERO emissions based on the votes their pools receive, and veAERO holders lock AERO to direct emissions.”
The sustainable tokenomics for AERO and the team’s execution skills have proven Aerodrome to be a significant player within the Base infrastructure.