Aerodrome's AERO token has climbed approximately 48% over the past 30 days, outpacing both Bitcoin and Ether during the same period. The upward movement comes as the decentralized exchange on Coinbase’s Base layer-2 network approaches its scheduled merger with Velodrome Finance.
Market Standing and TVL
In early October 2026, AERO traded between $0.68 and $0.84. Aerodrome holds approximately $393 million in total value locked (TVL) on Base, with broader estimates placing its TVL between $390 million and $411 million. Combining Aerodrome with Velodrome brings the total TVL to around $422 million as of October 9, 2026.
The token distribution for the merger assigns 94.5% of the new supply to Aerodrome stakeholders, while Velodrome stakeholders receive the remaining 5.5%.
Merger Details and Timeline
The combination is scheduled to begin on October 21, 2026, at 8:00 p.m. ET. The two exchanges will consolidate into a single protocol named Aero, which will operate across multiple Ethereum Virtual Machine (EVM) chains. Existing AERO tokens will convert to the new AERO at a 1:1 ratio, and VELO holders will receive approximately 0.044 new AERO per token. Legacy token emissions will cease following the transition.
Following the merger, sAERO holders will transition from a weekly voting system to real-time reward allocation, directing 100% of protocol revenue to participants. The combined protocol aims to expand its addressable market to over $63 billion across EVM ecosystems.
Background
Aerodrome launched on Base in late August 2023, utilizing vote-escrowed tokenomics and fee mechanisms to establish itself as a primary liquidity hub on the network. First revealed in November 2025, the merger was initially targeted for the second quarter of 2026 before being scheduled for October 21.
