What changed

Base's official stocks page now lists ten Coinbase Tokenized Stocks. GeckoTerminal snapshots showed AMZNc/USDC at roughly 19 hours old with about $129.5K of 24-hour volume and $9.9K of liquidity; MSTRc/USDC at roughly one day old with about $29.8K of volume and $10.1K of liquidity; and SPCXc/USDC at roughly five hours old with about $225.7K of volume and $45.0K of liquidity. MSTRc/USDC displayed a 0.05% trading fee. Liquidity and volume snapshots for these very new pools also moved materially across retrieval surfaces, so a stable TVL or APY series has not yet formed.

Why it matters

Base's tokenized-stock yield market is beginning to extend beyond the first four names that seeded the initial LP, vault and carry products. The appearance of second-wave stock/USDC pools on Aerodrome expands the set of assets that can potentially generate LP yield from swap fees. At the observation time, however, additional AERO emissions, Merkl USDC rewards, Beefy CLMs or a reliable headline APY for the six newly listed names could not be confirmed.

Evidence

  • Base — Stocks — Base's official page lists ten Coinbase Tokenized Stocks: NVDAc, METAc, AAPLc, GOOGLc, AMZNc, MSFTc, MSTRc, SNDKc, SPCXc and TSLAc, and identifies Aerodrome as a venue for deep liquidity in tokenized-stock trading pairs. 2026-09-05T03:43:03+09:00
  • GeckoTerminal — AMZNc/USDC on Aerodrome Slipstream 3 — The observed snapshot showed the AMZNc/USDC pool at roughly 19 hours old, about $129.5K in 24-hour volume, about $9,916 in liquidity and 992 transactions. 2026-09-05T03:43:03+09:00
  • GeckoTerminal — MSTRc/USDC on Aerodrome Slipstream 3 — The observed snapshot showed the MSTRc/USDC pool at roughly one day old, $29,786.52 in 24-hour volume, $10,105.70 in liquidity, 407 transactions and a 0.05% trading fee. 2026-09-05T03:43:03+09:00
  • GeckoTerminal — SPCXc/USDC on Aerodrome Slipstream 3 — The observed snapshot showed the SPCXc/USDC pool at roughly five hours old, $225,747.04 in 24-hour volume, $44,954.13 in liquidity and 1,276 transactions. 2026-09-05T03:43:03+09:00

Limitations

These pools are extremely new, and GeckoTerminal snapshots for the same pools changed materially across retrieval times in reported price, liquidity and volume. In concentrated liquidity markets, displayed liquidity may also differ from the active liquidity actually earning fees. No second-wave AERO emissions, Merkl rewards, Beefy CLM deployment or durable APY was independently confirmed at the observation time. Additional risks include Coinbase Tokenized Stocks issuer, custody, redemption and transfer-eligibility constraints; the 24/5 underlying equity market versus 24/7 DEX price-formation gap; and LP impermanent-loss and range risk.

Disclosure

This is a public-market observation and does not constitute investment advice.