An overlooked aspect of this is that Aerodrome ends up with the majority of the volume and liquidity of new projects that launch a token on Base. KEETA, PROMPT, VVV, B3, MAMO, and KAITO all have around 70% of their volume coming from Aerodrome today. The only outlier is ZORA, and that's because of the pairing of new Zora coins with ZORA itself on Doppler (Uniswap V4 hook for bonding curves). If you believe more projects are willing to launch on Base due to Coinbase's integration, Aerodrome is probably undervalued compared to other ICM plays out there.