Aerodrome Finance and Velodrome, two of the leading decentralized exchanges (DEXs) on Base and Optimism, have officially merged to launch Aero, a unified cryptocy trading platform operating across seven blockchain networks. Developed by Dromos Labs, the new exchange combines both platforms under a single AERO token and introduces a staking model that distributes 100% of exchange revenue to eligible AERO stakers. The expansion positions Aero to compete for trading activity across networks that collectively process approximately $120 billion in monthly decentralized exchange volume.
Aerodrome Finance, a major liquidity and trading platform on Coinbase’s Base blockchain, has joined forces with Velodrome Finance, a leading decentralized exchange on OP Mainnet.
Both platforms were developed by Dromos Labs and used similar systems to attract liquidity, facilitate token swaps and reward participants.
The merger, announced in November 2025, officially launched on October 21 at 8 p.m. Eastern Time.
Rather than continuing to operate as separate exchanges, Aerodrome and Velodrome are combining their operations into a single platform called Aero.
The new exchange supports seven blockchain networks:
Base — Coinbase’s Ethereum Layer 2 network.
Ethereum Mainnet — Ethereum’s primary blockchain.
OP Mainnet — The Optimism Layer 2 network.
Arbitrum — An Ethereum scaling network.
Ink — A blockchain developed by Kraken.
Robinhood Chain — Robinhood’s blockchain ecosystem.
Arc — Circle’s blockchain infrastructure initiative.
The expansion allows Aero to compete for liquidity and trading activity across a much larger portion of the Ethereum ecosystem.
Before the merger, Aerodrome and Velodrome had already established significant positions on their respective networks.
According to figures provided by Dromos Labs:
Aerodrome handled 58% of decentralized exchange trading volume on Base during the third quarter of 2026.
Velodrome accounted for 60% of DEX trading volume on OP Mainnet during the same period.
The seven networks supported by Aero collectively generated approximately $120 billion in monthly DEX trading volume.
The $120 billion figure represents the combined trading activity across those blockchain ecosystems, not trading volume already processed by Aero.
The merger gives the exchange access to a broader potential market while preserving its focus on decentralized token trading and liquidity incentives.
Dromos Labs founder and CEO Alex Cutler said the company expects more financial markets to move onto blockchain infrastructure.
The platform’s ambitions extend beyond conventional cryptocy trading into emerging markets for tokenized financial assets.
A major part of the transition involves combining the existing AERO and VELO tokens into a new AERO token.
Under the migration plan:
1 existing AERO converts into 1 new AERO.
1 existing VELO converts into approximately 0.044 new AERO.
Aerodrome holders receive approximately 94.5% of the new token supply.
Velodrome holders receive approximately 5.5% of the new token supply.
The distribution reflects the relative revenue contributions of the two exchanges during the measurement period established by the development team.
Existing governance positions, known as veAERO and veVELO, can also be converted into the new sAERO staking system.
The token migration is not automatic for users holding assets in self-custody wallets.
Those users must complete the upgrade process through the project’s official migration portals.
Customers holding tokens on centralized exchanges may have different procedures depending on the exchange.
One of Aero’s biggest changes is its new revenue-sharing model.
The platform says 100% of exchange revenue will be distributed to eligible sAERO stakers, replacing the previous governance and reward structures used by Aerodrome and Velodrome.
Under the system, users stake AERO to receive sAERO, which represents their participation in the exchange’s reward and allocation mechanisms.
Stakers can direct liquidity incentives toward trading pools they believe will generate revenue.
The system uses a feature called Predictive Allocation, allowing participants to compete for rewards by selecting productive liquidity markets.
Aero also introduces Autopilot, an optional tool that can automate some of those allocation decisions.
The exchange says the new system is designed to reward participants who help direct liquidity toward active markets.
However, staking returns are not guaranteed and depend on trading activity, reward allocations, token prices and other risks.
Beyond combining the two exchanges, Aero is introducing additional trading infrastructure.
One feature, Metaswaps, is designed to simplify transactions across supported blockchain networks.
Instead of manually bridging assets and completing separate trades, users may be able to execute supported cross-chain swaps through a more streamlined process.
The exchange also introduced Slipstream V3, an upgraded concentrated-liquidity system with dynamic trading fees.
Concentrated liquidity allows providers to allocate capital within selected price ranges rather than across every possible market price.
This can improve capital efficiency, although liquidity providers still face risks including impermanent loss and changing market conditions.
Aero’s expanded infrastructure is intended to attract traders, liquidity providers and token issuers seeking access to multiple blockchain networks.
Major cryptocy exchanges are also preparing to support the transition.
Binance announced that it would facilitate the VELO-to-AERO conversion and the existing AERO token contract swap for eligible customers.
Its published schedule includes the removal of VELODROME spot trading pairs on November 3, along with temporary deposit and withdrawal suspensions during the upgrade.
Binance also warned that the merger would increase the total AERO supply from approximately 2 billion to 2.12 billion tokens.
The circulating supply is expected to rise from approximately 1 billion to 1.07 billion tokens.
Coinbase has also published a migration timetable for supported token balances.
Users should review their exchange’s official instructions before moving assets or attempting to convert tokens.
For self-custody holders, migration portals should be accessed only through verified project websites to avoid fraudulent token-swap links.
The merger comes as financial institutions increasingly explore tokenized stocks, stablecoins and other blockchain-based assets.
By expanding across seven networks, Aero is positioning itself to provide trading infrastructure for a wider range of digital assets.
The platform says Aerodrome’s share of tokenized-stock trading across Ethereum and its Layer 2 ecosystem rose significantly during September and early October.
However, the broader tokenized securities market still faces regulatory and operational challenges.
A decentralized exchange supporting tokenized assets does not automatically make every security eligible for unrestricted trading.
The new platform’s success will depend on liquidity, network adoption, trading demand and the regulatory requirements applicable to different assets.
For existing Aerodrome and Velodrome users, the merger creates both opportunities and responsibilities.
Token holders may gain access to a broader trading ecosystem and a new staking model.
Liquidity providers can participate in pools across additional blockchain networks.
However, users with existing positions must understand how the migration affects their assets and rewards.
Important considerations include:
Existing tokens may require manual conversion.
Old liquidity pools stop receiving new AERO and VELO emissions.
Unclaimed rewards may need to be collected before migration.
Staking positions have new rules and allocation mechanisms.
Token supply changes may affect market pricing.
The project’s official documentation provides instructions for different types of token holders and liquidity providers.
The creation of Aero brings together two established decentralized exchanges under one brand, one token and a broader multichain strategy.
With access to seven blockchain networks, the platform is attempting to move beyond individual Layer 2 ecosystems and become a larger liquidity provider for onchain markets.
Its revenue-sharing model, cross-chain trading tools and tokenized asset ambitions reflect the increasing competition among decentralized exchanges.
However, the merger’s long-term impact will depend on whether Aero can attract sustained trading activity and deliver value to liquidity providers and token holders.
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