Onchain equities trading via DEXs on Base offers 32–97 cent price advantage over traditional brokers, signaling early-stage competitive disruption in tokenized stock trading.
DeFi & Yields ·
A comparison of tokenized stock trading on Base via Aerodrome against traditional brokers shows per-share price advantages of 32 cents relative to Interactive Brokers' tiered pricing and 97 cents relative to IBKR's fixed tier. These gaps represent competitive pricing in a $100 trillion asset class now accessible onchain, according to analysis shared in the crypto research community.
Traditionally, price discovery in equities markets has centered on major brokerages, with tokenized versions following suit. The mechanism under discussion inverts this dynamic: if decentralized exchanges can establish superior pricing, traders could migrate toward those venues. Currently, the Base-Aerodrome stack offers this pricing advantage while remaining in nascent stages of adoption and liquidity formation.
The extent to which traders will actually migrate to onchain venues, and whether these price differentials persist as volumes scale, remains an open question. Market structure shifts of this kind typically face friction from incumbent infrastructure, regulatory frameworks, and the need for sustained liquidity depth to support institutional-scale activity.