
Velodrome is the native DEX of Optimism, using the ve(3,3) model pioneered by Solidly. Voters lock VELO as veVELO to direct liquidity emissions and earn protocol fees. It has become the liquidity infrastructure backbone of the Optimism ecosystem.
Aerodrome is the leading DEX on Base (Coinbase's L2), forked from Velodrome on Optimism. It uses the ve(3,3) model where voters direct emissions to liquidity pools, creating flywheel incentives for deep liquidity. Aerodrome has captured the majority of Base's DEX volume and TVL since launch.
PancakeSwap is the dominant DEX on BNB Chain and has expanded to multiple chains. It offers AMM trading, concentrated liquidity (V3), yield farming, lotteries, NFTs, and prediction markets. As the gateway to BNB Chain DeFi, PancakeSwap processes billions in monthly trading volume with lower fees than Ethereum-native DEXs.
Orca is a user-friendly DEX on Solana known for its clean interface and concentrated liquidity pools (Whirlpools). It prioritises capital efficiency and ease of use over complexity. Orca has become one of the most-used DEXs on Solana by volume.
Raydium is Solana's leading AMM and liquidity provider, designed to leverage Solana's high-speed, low-cost infrastructure. It integrates with OpenBook's central limit order book (CLOB) for hybrid AMM+order book liquidity. Raydium's AcceleRaytor serves as a launchpad for new Solana projects.