Aerodrome and Velodrome Launch Aero as Token Migration Opens

Aerodrome and Velodrome launched their unified exchange, Aero, on Oct. 22, opening token upgrades and a new staking system for existing holders. The changeover began at 02:00 SAST across seven networks.

The initial network lineup includes Base, Ethereum, OP Mainnet, Arbitrum, Arc, Ink, and Robinhood Chain. Legacy pools stop receiving token emissions. Holders and liquidity providers must migrate to earn rewards through Aero.

AERO and VELO Holders Need to Upgrade

Each existing AERO converts into one new AERO, while each VELO converts into 0.044 AERO. The new token retains the AERO ticker, but the conversion does not happen automatically. There is no fixed upgrade deadline, and completed conversions cannot be reversed.

The initial AERO allocation is split 94.5% to Aerodrome holders and 5.5% to Velodrome holders. The split reflects each protocol’s share of combined revenue during the 52 weeks before Aero was announced.

Holders keeping tokens in their own wallets use the upgrade portals on aerodrome.finance and velodrome.finance. Tokens held on centralized exchanges follow each platform’s upgrade process and schedule.

For holders using Velodrome’s portal, the upgrade starts on OP Mainnet and the new AERO arrives on Base. A Base-compatible wallet is required, with ETH needed to pay the network fees.

sAERO Replaces veAERO and veVELO Positions

Existing veAERO and veVELO positions can be upgraded to sAERO, an NFT representing staked AERO. Predictive Allocation replaces weekly voting rounds. Stakers direct AERO rewards to liquidity pools and earn a share of their revenue, while rewards and exchange revenue accrue continuously.

The migration creates a new sAERO position and retires the old NFT identifier. Remaining lock time carries over, rounded up to the next full week; permanent locks convert at the protocol’s maximum staking duration.

Holders upgrading locked positions must claim their outstanding rewards and reset their votes through the upgrade flow. Rewards left unclaimed cannot be recovered after conversion.

Liquidity Rewards Move to Aero Pools

Legacy Aerodrome and Velodrome pools remain live at launch, but stop receiving AERO and VELO token emissions. Liquidity providers seeking the new AERO rewards need to move deposits into eligible Aero pools.

Both upgrade portals support moving liquidity deposits. Where an old pool has no matching Aero pool, holders need to withdraw manually and can create a new pool on Aero.

Liquidity providers choose between AERO rewards and trading fees for each deposit. Choosing AERO rewards sends that position’s trading fees to sAERO holders allocating rewards to its pool.

Autopilot’s First Allocation Is Scheduled for 18:00 SAST

Autopilot, Aero’s automated allocation service, is scheduled to make its first allocation at 18:00 SAST on Oct. 22. Positions deposited before that allocation begin earning when it takes place.

Stakers can configure Autopilot to manage allocations and reinvest or convert earned revenue. Each sAERO position has a 47-hour cooldown between allocation changes, which also applies to Autopilot. Users who manually allocate before the first Autopilot round must wait for that cooldown before reallocating.