What changed
DefiLlama showed mooBeefyAerodromeBaseUSDC-GOOGLc at 47.09% Supply APY and $284,394 in TVL. Beefy's official vault page confirms that the GOOGLc-USDC CLM deposits GOOGLc and USDC into Aerodrome concentrated liquidity on Base and earns swap rewards.
Why it matters
Yield on Base tokenized-stock liquidity is influenced by more than organic trading fees. Beefy describes a stack of Aerodrome emissions, USDC incentives distributed through Merkl and Beefy boosts, so the headline APY should not be read as pure swap-fee yield.
Evidence
- DefiLlama — mooBeefyAerodromeBaseUSDC-GOOGLc — Supply APY was 47.09% and TVL was $284,394 at the observation time.
- Beefy — GOOGLc-USDC CLM Pool on Base — The vault uses a GOOGLc/USDC Aerodrome concentrated-liquidity position and earns swap rewards.
- Beefy — Coinbase Tokenized Stocks: As Markets Converge — Beefy describes Aerodrome emissions, USDC incentives through Merkl and Beefy boosts as incentive layers for Coinbase Tokenized Stocks.
Limitations
APY can move with incentive levels, update timing and aggregation methods. Concentrated-liquidity range risk, impermanent loss, incentive reductions, issuer/custody risk for tokenized stocks and off-hours price dislocations versus the underlying equity remain material limitations.
Disclosure
This is a public-market observation and does not constitute investment advice.