Aerodrome
DEX and liquidity hub on Base where veAERO holders vote on AERO rewards and earn trading fees.
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Aerodrome key facts
| Category | Decentralized exchange |
|---|---|
| Chains | Base |
| Platforms | Web |
| Custody | Non-custodial |
| Launched | August 28, 2023 |
| Security audits | Spearbit, ChainSecurity |
| Token | AERO |
| Company | Aerodrome Foundation |
| Chains | Base |
| US availability | Available: terms restrict only sanctioned jurisdictions |
| Fees | Swap fee set per pool and adjustable to volatility; fees of staked LPs go to veAERO voters |
AERO token
- Price
- $0.5526 -2.0% 24h
- Market cap
- $162.9M
- Fully diluted value
- $1.1B
- 30-day change
- -42.9%
Market data: CoinGecko, updated Nov 10, 2026. Educational content, not financial advice.
What is Aerodrome?
Aerodrome is a decentralized exchange on Base that launched on August 28, 2023, without VC backing or token sales. AERO rewards flow to pools chosen by veAERO voters, who earn those pools' fees. Its contracts come from Velodrome V2 and were audited by Spearbit and ChainSecurity.
How Aerodrome works
Aerodrome offers three pool types.
Stable pools use the curve x³y + y³x ≥ k for correlated assets like USDC and DAI, volatile pools use x × y ≥ k, and concentrated pools place liquidity in tick ranges. Tick spacing signals the range width: 1 for tightly correlated pairs, 50 for stablecoins, 200 for assets such as WETH and 2000 for new tokens. The router checks the pool types for the best quote and uses 30-minute TWAPs to guard against flash loan attacks.
Everything runs in 7-day epochs starting Thursday 00:00 UTC. LPs who stake in a gauge earn AERO emissions in proportion to that pool's votes; unstaked LPs earn trading fees instead. Fees collected from staked liquidity in one epoch become rewards for veAERO voters in the next, paid in the pool's own tokens. Protocols can also deposit incentives in whitelisted tokens for voters of a pool. The Aerodrome Foundation and Dromos Labs, the core developer, earn through the same system, and Dromos Labs receives a small share of weekly emissions that is fully max-locked.
How to start with Aerodrome
- You need a wallet connected to Base and tokens on Base to swap or add liquidity at aerodrome.finance.
- To vote, lock AERO into a veAERO NFT for up to 4 years: 100 AERO locked for 4 years gives 100 veAERO, and for 1 year gives 25.
- Auto-Max Lock keeps voting power from decaying.
- Votes for the next epoch close Wednesday at 23:00 UTC, and each lock votes once per epoch.
- The legal page says US persons may not access unregistered securities or Reg S offerings on the site.
Aerodrome fees and limits
Each swap pays the pool's own fee, and the docs do not publish a fixed rate table. On concentrated pools the fee is set independently of the pool type and can be adjusted for partner protocols or market volatility, and the team says a dynamic fee module is in development. Who keeps the fee depends on staking: unstaked LPs collect fees as they accrue and can claim them any time, while fees from staked liquidity go to that pool's veAERO voters after the epoch flips at Thursday 00:00 UTC, paid in the pool's own tokens. Aero Launch, the flow for launching a token's liquidity, charges no fees; products launching through it can set a referral share of fees or rewards, redirected automatically at claim time.
Risks to know before using Aerodrome
- Aerodrome uses the Velodrome V2 contract architecture and points to Velodrome's security page for audits and the bug bounty.
- An Emergency Council at a published address can kill or revive gauges, set custom pool names and activate or deactivate veNFTs, so emissions to a pool can be switched off without a regular vote.
- Concentrated pools need active management or an automated manager, since out-of-range liquidity stops earning.
- Fee APRs on staked pools use only the current epoch's fees, so displayed figures can swing week to week.
Aerodrome usage
From DefiLlama (fees users paid), updated Nov 10, 2026.
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Where Aerodrome ranks on DappAtlas
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Aerodrome pros and cons
- Launched August 2023 with no VC backing or token sale
- Contracts audited by Spearbit and ChainSecurity
- veAERO voters receive fees from the pools they vote for
- Only on Base until the planned 2026 merger with Velodrome
- Terms bar US persons from unregistered or Reg S tokenized securities on the site
- Emergency Council can kill and revive gauges
Aerodrome FAQ
What is Aerodrome?
Aerodrome is a decentralized exchange on Base that launched on August 28, 2023, without VC backing or token sales. AERO rewards flow to pools chosen by veAERO voters, who earn those pools' fees. Its contracts come from Velodrome V2 and were audited by Spearbit and ChainSecurity.
Which chains does Aerodrome support?
Base.
How much does Aerodrome cost?
Swap fee set per pool and adjustable to volatility; fees of staked LPs go to veAERO voters, according to Aerodrome’s own page (checked Oct 1, 2026).
How much do users pay Aerodrome in fees?
$10.1M over the last 30 days, according to DefiLlama on Nov 10, 2026.
Does Aerodrome have a token?
Yes, AERO. Its market cap was $162.9M on CoinGecko on Nov 10, 2026. Educational content, not financial advice.
Is Aerodrome available in the US?
Available: terms restrict only sanctioned jurisdictions, according to Aerodrome’s own page (checked Sep 26, 2026).
Does Aerodrome hold my funds?
No. Aerodrome is non-custodial: you keep your funds in your own wallet and sign each transaction.
Sources
How this page works
Sources: Aerodrome: official site, Aerodrome: About, Aerodrome: Legal Disclaimer. Data as of Oct 1, 2026.
Not affiliated with any project listed. Educational content, not financial advice.