Aero Sets Oct. 21 Launch Date and Token Conversion Terms for Aerodrome-Velodrome Merger
Merger launches Oct. 21 with set conversion rates
Aero, the merged platform combining decentralized exchanges Aerodrome and Velodrome, has published the conversion terms and deadlines for its launch on Oct. 21 at 8 p.m. ET. At that time, the legacy platforms will stop issuing token rewards.
Existing AERO tokens convert one-for-one into the new AERO token. Each VELO token converts into approximately 0.044 new AERO. These rates apply to both liquid tokens and tokens held in locks, which are locked digital assets that earn extra rewards.
Aerodrome holders receive 94.5% of the new token supply, while Velodrome holders receive 5.5%, according to the Aero hub.
Key numbers
- AERO converts at a 1:1 ratio to the new AERO token
- VELO converts at approximately 0.044 new AERO per token
- Combined total value locked stood at about $422 million as of Oct. 9
- Supply split: 94.5% to Aerodrome holders, 5.5% to Velodrome holders
- Final voting round closes Oct. 21 at 6:59 p.m. ET
- Upgrade portals open at 8 p.m. ET on Oct. 21
- 47-hour cooldown on allocation changes
What the Aero hub says
The Aero hub confirmed the conversion rates and noted that the merger was announced in November 2025 by developer Dromos Labs, which originally targeted the second quarter of 2026 for launch.
The hub also stated that legacy pools will remain live without token emissions after the upgrade, but warned that legacy front ends may eventually close. It stressed that the upgrade cannot be reversed.
How the reward system changes
Aerodrome currently uses a weekly voting model where locked-token holders vote each week to direct the following week's token emissions to different liquidity pools. Aero replaces this with real-time allocation: holders of staked AERO, called sAERO, direct rewards to pools as they accrue and earn exchange revenue at the same time.
The new system uses an automated allocation service called Autopilot, which replaces the older Relay tool. Autopilot's first allocation is scheduled for Oct. 22.
Migration steps for token holders
Nothing converts automatically. Holders of self-custodied tokens must visit the upgrade portals on aerodrome.finance or velodrome.finance to complete the migration. The process requires claiming any unclaimed rewards and rebases, then clearing active votes before upgrading a lock. Unclaimed rewards cannot be recovered after migration.
For VELO holders, conversion begins on OP Mainnet and delivers the new AERO or sAERO on Base, another blockchain layer. Users need a wallet that supports Base and ETH on OP Mainnet to cover transaction fees.
Locks that participated in the final voting round must wait until 9 p.m. ET on Oct. 21 to upgrade, one hour after liquid tokens and nonvoting locks, to allow final rewards and rebases to become claimable. Existing veAERO and veVELO positions convert into new sAERO positions, with remaining lock time carried over and rounded up to the next full week. Permanent locks become maximum-duration stakes.
Centralized exchanges will handle conversions on their own schedules.
Liquidity migration
Liquidity providers can move deposits through the portals once Aero pools open. Not every old pool will have a matching destination at launch, so some users will need to withdraw manually and create new pools. The hub told users of automated liquidity management tools to withdraw and manage positions manually as the current automation winds down.
VELO-paired pool users must withdraw, convert VELO to AERO on Base, then bridge it back to OP Mainnet to provide liquidity in an upgraded pool.
Protocols were told to deposit their final voting incentives before the Oct. 15 epoch flip, since later deposits cannot attract liquidity — the final round's allocated emissions will never be paid out. On Aero, incentive payments will stream continuously. The Aero Foundation said it will distribute AERO incentives over several weeks to offset roughly the value of final voting rewards locked in legacy gauges, the contracts that distribute pool rewards.
Why this matters for DeFi users
The merger brings together two of the largest decentralized exchanges on the Base and OP Mainnet blockchains into a single platform. The shift from weekly voting to real-time reward allocation could change how liquidity providers earn returns, and the manual migration process means users need to act deliberately to avoid losing unclaimed rewards.
What happens next
The final voting round closes Oct. 21 at 6:59 p.m. ET. Upgrade portals open at 8 p.m. ET the same day. Autopilot begins its first allocation on Oct. 22. Protocols should deposit final voting incentives before Oct. 15.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.