Venture Firms Spartan Group and Pantera Capital Added AERO Token to Their Onchain Holdings

A dominant player within Coinbase-incubated L2 network Base, which is rising in popularity.

Venture firms Spartan Group (0x770) and Pantera Capital (0x59c) are among the latest entities adding AERO, the native token for decentralized exchange Aerodrome, to their onchain holdings. 

On Monday, Spartan Group swapped 460 ETH for roughly 903,000 AERO in two transactions from a single address, while Pantera received about 479,000 tokens from an unknown wallet, data from blockchain analytics firm Nansen shows. 

Spartan Group’s acquisition of AERO marks the first time the address has been exposed to the token, but for Pantera’s address, it is the second time in four days as the firm received an initial 474,749 AERO tokens on Oct. 4, per onchain data. 

If both entities decide to lock and vote-escrow their tokens, they can vote in governance decisions for the protocol. “Funds are important stakeholders in any DeFi ecosystem and it is very exciting to see them getting increasingly engaged with Aerodrome,” wrote the DEX’s core contributor Alexander Cutler to Unchained. 

The price of AERO has seen extraordinary growth, rising nearly 4,410% in the past year and 26% in the last 14 days to trade at $1.20, and yet the two venture firms are currently in the red as the cost basis for their AERO acquisition was around $1.24 and $1.25. Spartan Group and Pantera Capital did not immediately respond to Unchained’s request for comments.

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