Aerodrome and Velodrome have merged into Aero, a new on-chain spot exchange spanning Ethereum, Base, Robinhood Chain, Ink, OP Mainnet, Arc and Arbitrum. The launch began at 00:00 UTC on October 22, after emissions on the two legacy systems stopped.
Existing AERO migrates one-for-one into the new token. VELO converts at approximately 0.044 AERO, while locked veAERO and veVELO positions convert to sAERO. The official Velodrome migration guide warns users to verify a Base recipient address because completed transfers cannot be reversed.
The protocol is consolidating two leading liquidity venues. Project data cited by The Block attributed 58% of Base decentralized-exchange volume to Aerodrome and 60% of OP Mainnet volume to Velodrome during the third quarter. Those shares come from the project and require independent monitoring after migration.
Aero also changes governance economics. The prior vote-escrow positions move to sAERO, and the project says revenue will be distributed to AERO stakers. Users with liquidity positions must follow the relevant upgrade flow rather than assuming every legacy position moves automatically.
The launch is live, but seven-chain availability does not establish equal liquidity on every network. Contract verification, migration completion, bridge behavior and market depth remain the operational tests.
TOKEN RECON ASSESSMENT
This is a real protocol and token migration, not a branding announcement. Consolidation gives Aero a wider distribution surface, while it also concentrates governance and smart-contract risk into a new system. The next evidence should come from verified contract addresses, migrated value, failed-transaction rates and sustained volume by chain. Users should rely on official upgrade pages and independently verify contracts before approving token transfers.
Sources
Velodrome: Official liquid-token migration guide
