Aerodrome Finance

Aerodrome and Velodrome are both built by Dromos Labs, so development depends on one company. Its team receives a small share of weekly AERO emissions, which it compounds into a max-locked position. The code base comes from Velodrome V2, which has been audited and runs a bug bounty. For the new Aero exchange, Dromos Labs reported formal audits by three teams with no critical or high findings and a public audit contest from 24 August to 11 September 2026. On 25 September 2026 it confirmed the Aero launch for 21 October 2026 on seven chains. Core contracts are immutable, so upgrades require moving liquidity to new contracts.

• Aerodrome docs: Tokenomics
• Aerodrome docs: Security
• Aero Launch Update: All Systems Go (Aero)
• Aero is on the Horizon (Aero)

Aerodrome launched in 2023 without a token sale to investors. Of the 500 million initial AERO, 40% went to Velodrome lockers, 21% to a Public Goods Fund, 19% to the development team and 10% to a grants programme, all locked. AERO is on the National Bank of Kazakhstan's list of authorised digital assets. Data on ETFs, regulated funds or other institutional holders is insufficient; none appear in the verified facts.

• Aerodrome docs: Tokenomics
• List of authorized unsecured digital assets (National Bank of Kazakhstan)

AERO has no maximum supply. Total supply was about 1.99 billion on 27 September 2026, up from 500 million at launch in 2023; CoinGecko showed about 996 million circulating. Holders who lock AERO vote on weekly emissions within a range of 0.01% to 1% of supply per week, and 5% of emissions go to the team address. Dromos Labs put inflation at about 12% a year in June 2026. The planned Aero design mints rewards only when claimed and caps inflation at 20% a year, with 8–12% expected. At the merger, Aerodrome holders get 94.5% of the new supply and Velodrome holders 5.5%.

• BaseScan: AERO token
• Aerodrome docs: Emissions
• The AER Engine and the Aero Economy (Aero)
• Aero Dynamics: The Economics of Ethereum's Unified Liquidity Layer (Aero)

DefiLlama reported about $130 million of swap fees over the year to 27 September 2026, of which about $93 million went to locked AERO voters. Voter incentives paid by other protocols come on top. Dromos Labs says Aerodrome and Velodrome together have handled $342 billion of trading volume. In August 2026 Coinbase tokenized US shares launched with day-one liquidity on Aerodrome. Data on outages is insufficient; the main known incident was a front-end domain takeover in 2023.

• DefiLlama API: Aerodrome fees summary
• Aero Dynamics: The Economics of Ethereum's Unified Liquidity Layer (Aero)
• Coinbase Tokenized Stocks Launch on Aerodrome (Aero)