Aero Upgrade and Launch Hub
Until Aero launches
October 21, 8:00 PM EDT
Aero launches 2026-10-22T00:00:00Z.
On , Aerodrome and Velodrome will upgrade together to become Aero: the unified liquidity layer for all of Ethereum. If you hold AERO, VELO, veAERO, or veVELO, or you provide liquidity on either current exchange, this launch hub has everything you need to prepare to upgrade and participate on Aero.
Key dates
- October 14
Final Maxi Relay rewards become available after epoch flip.
- October 15
All xVELO on chains other than OP Mainnet and Ink should be bridged back to OP Mainnet.
- October 20
All veNFTs should be withdrawn from Relays or other vaults and protocols.
- October 21
- Aero app goes live.
- Current AERO and VELO emissions end.
- New AERO emissions begin.
- Upgrade portals open.
An upgraded liquidity network token with an immutable claim on exchange revenue.
At launch, AERO and VELO can be upgraded to the new AERO, and veAERO and veVELO can be upgraded to sAERO (staked AERO). sAERO will give holders the ability to allocate AERO Rewards to pools on any Aero chain and to earn Exchange Revenue from those pools as it accrues.
Conversion rates
| You hold | You receive |
|---|---|
 1 AEROliquid or in a veAERO |  1 AEROliquid or in sAERO |
 1 VELOliquid or in a veVELO | ~0.044 AEROliquid or in sAERO |
The VELO rate reflects how ownership of the new AERO supply is divided: Velodrome holders receive 5.5% and Aerodrome holders receive 94.5%. The rate converts that share into a per-token amount using each token's supply at launch.
How the VELO rate is calculated (based on projected supplies)
Expected supply at launch
AERO (Aerodrome): 1.99B
VELO (Velodrome): 2.63B
AERO allocation and resulting supplies
The new AERO supply (2.11B total) is split 94.5% to Aerodrome and 5.5% to Velodrome. Since AERO converts 1:1, these percentages translate directly to AERO supplies at launch.
Aerodrome: 94.5% = 1.99B AERO
Velodrome: 5.5% = 116.0M AERO
VELO conversion rate
Distribute the 116.0M AERO across the 2.63B VELO supply to get the per-token rate: 116.0M AERO / 2.63B VELO = ~0.0440 AERO per VELO
Timeline
The final Aerodrome and Velodrome epoch, launch, and Autopilot's first allocation. Days to the left of launch, hours to the right, each half to scale.
Days, Oct 14 to 21
Hours, Oct 22 UTC
14
15
16
17
18
19
20
21
00:00
Launch
04:00
08:00
12:00
16:00
20:00
00:00
Oct 23
Final Aerodrome epoch
Final Aerodrome epoch
Oct 14 00:00 to Oct 21 22:59 UTC
Oct 14 00:00 to Oct 21 22:59 UTCFinal Velodrome epoch
Final Velodrome epoch
Oct 14 00:00 to Oct 21 22:59 UTC
Oct 14 00:00 to Oct 21 22:59 UTCAerodrome & Velodrome emissions
Aerodrome & Velodrome emissions
Until Oct 22 00:00 UTC
Until Oct 22 00:00 UTCUpgrade portal opens
Upgrade portal opens
Oct 22 00:00 UTC
Oct 22 00:00 UTCNew Aero protocol live
New Aero protocol live
Oct 22 00:00 UTC
Oct 22 00:00 UTCAERO Rewards streaming
AERO Rewards streaming
Oct 22 00:00 UTC
Oct 22 00:00 UTCAutopilot allocation begins
Autopilot allocation begins
Oct 22 16:00 UTC
Oct 22 16:00 UTC
General FAQ
When does Aero launch?
.
When should I upgrade?
The upgrade portals open on aerodrome.finance and velodrome.finance at . Liquid AERO and VELO, and any veNFT that did not vote in the final epoch, can upgrade right away. veNFTs that voted in the final epoch can upgrade starting at .
Which chains will Aero launch on?
Base, Ethereum Mainnet, OP Mainnet, Arc, Ink, Robinhood Chain, and Arbitrum.
Do I have to upgrade?
AERO and VELO emissions on Aerodrome and Velodrome stop at launch. To earn AERO Rewards as an LP or Exchange Revenue as a token operator, you will need to upgrade.
Is there a deadline to upgrade?
There is no set deadline. However, front ends for legacy protocols may be shut down at a later date.
Is the upgrade reversible?
No. Once you upgrade, you cannot convert back.
What happens to the Aerodrome and Velodrome apps?
Both front ends will stay live after launch to continue to facilitate the upgrade process. All gauges will be deactivated. Emissions will cease. Velodrome will also continue to support trading and liquidity deposits, without its token economy, on Celo, Fraxtal, Soneium, and Unichain.
Where can I find the official contract addresses?
All contract addresses will be published in Aero's public GitHub repositories, followed by a security page in the Aero docs. The AERO token address will also be shared through official Aero channels on launch day.
Tokens and conversion
What is the conversion rate?
1 AERO becomes 1 AERO. 1 VELO becomes ~0.044 AERO.
Why is VELO ~0.044?
Velodrome holders receive 5.5% of the new AERO supply, and Aerodrome holders receive 94.5%. ~0.044 converts Velodrome's share into a per-token rate.
I hold AERO or VELO on a centralized exchange. What should I do?
Aero has coordinated with all major exchanges on the upgrade details and timeline. Every exchange will coordinate their own process and timeline for upgrades.
Predictive Allocation
How does allocation work?
sAERO gives you the ability to choose which pools receive AERO Rewards. In return, you earn a pro rata share of Pool Revenue from those pools.
When can I start allocating?
Allocation begins at . Any veNFT that participated in the final voting round of Aerodrome and Velodrome must wait until to upgrade and participate.
How often can I change my allocation?
Each sAERO position has a 47-hour cooldown between allocation changes at launch. The cooldown is subject to change, with notice.
Can one sAERO NFT allocate across chains?
Yes. sAERO can allocate AERO Rewards to pools on any Aero chain in one transaction, and pay gas on Base only.
Incentives (Liquidity Payments)
When should protocols deposit their final incentives on Aerodrome and Velodrome?
All incentives should be deposited prior to the second-to-last voting epoch.
Aero Foundation and Contributors
How is the Aero Foundation preparing for the launch of Aero?
The Aero Foundation will upgrade part of the Momentum Fund's veNFTs early () to kick-start new gauges. This will allow AERO Rewards to flow to new pools the moment Aero launches. The Foundation gives up the final epoch's voting rewards on those veNFTs.
Will Aero contributors be upgrading early?
No, Aero contributors will be upgrading at the opening of the Aero upgrade portal with all other participants.
AERO and VELO Holders
Liquid AERO and VELO tokens will be upgradable to the new AERO on launch day. For users with tokens in self-custody, the process will be initiated at aerodrome.finance and velodrome.finance.
Timeline
- October 10 – 20Before the upgrade portals open
Pre-launch checklist
- xVELO on any chain other than OP Mainnet or Ink should be bridged to OP Mainnet no later than October 15.
- xVELO on Ink should be bridged to OP Mainnet before launch.
- October 22, 00:00 UTCLaunch
Aero launches
- Upgrade portals open on aerodrome.finance and velodrome.finance.
- Liquid AERO and VELO can be upgraded to the new AERO.
- New AERO can be staked as sAERO.
FAQs
What is the conversion rate?
1 AERO becomes 1 AERO. 1 VELO becomes ~0.044 AERO.
Why is VELO ~0.044?
Velodrome holders receive 5.5% of the new AERO supply, and Aerodrome holders receive 94.5%. ~0.044 converts Velodrome's share into a per-token rate.
Do I need to do anything to move from AERO to the new AERO token?
Yes. All tokens need to be upgraded through the Upgrade portal. Nothing converts automatically.
Do I need a wallet compatible with Base?
Yes.
When will my new AERO be transferable?
New AERO lands in your wallet as soon as you upgrade, and transfers and trading open at the time of upgrade.
Do I need ETH to upgrade?
Yes, a small amount of ETH is needed to cover the network fee for the upgrade process (ETH on Base for Aerodrome, and ETH on OP Mainnet for Velodrome).
Is the upgrade for Velodrome users different from Aerodrome?
Velodrome runs on OP Mainnet, while Aero lives on Base, so the upgrade starts on one chain and settles on another. Any xVELO sitting on another chain has to be bridged back to OP Mainnet first.
My VELO is not on OP Mainnet. What do I do?
Bridge it back to OP Mainnet first. The upgrade flow only picks up once your VELO is already on OP Mainnet.
Where do I go after upgrading?
The upgrade flow ends on a success screen with the option to go straight to the Aero app.
What if I am using a multisig?
Upgrade supports multisig wallets, and there will be additional steps in the upgrade process for multisig users. Multisig users will be required to denote a destination wallet for their upgrade. The destination wallet must support the Base network.
veAERO and veVELO Holders
veAERO and veVELO will be upgradable to the new sAERO. Before launch, make sure your veNFT will be in your own wallet. If it sits in a Maxi Relay, withdraw it by October 20 so you can vote manually in the final epoch and earn that week's voting rewards. If it does vote, it stays locked until so final rewards and rebases can be claimed first. If your veNFT does not vote in the final epoch, you can upgrade from using the upgrade portal.
A note for veVELO holders
When you upgrade veVELO on OP Mainnet, your sAERO arrives on Base. The upgrade includes a cross-chain messaging fee paid in ETH on OP Mainnet. If your wallet doesn't support Base, the flow asks for a Base address.
Timeline
- October 14A week before launch
Final Relay rewards available to claim
- Maxi Relays cast their final votes on Wednesday October 7.
- Rewards are claimed and compounded and become available after the October 14th Epoch. These will be the final rewards available for the relay to claim. All rewards that can be compounded have been compounded.
- If your veNFT sits in a Relay, withdraw it by October 20 and vote manually in the final epoch to earn that week's rewards.
- October 21, 22:59 UTC
Final voting closes
- The last chance to vote on Aerodrome and Velodrome.
- The vote closes one hour before epoch flip.
- October 22, 00:00 UTCLaunch
Aero launches
- Aerodrome and Velodrome emissions stop.
- New AERO emissions start.
- Upgrade portals open on aerodrome.finance and velodrome.finance.
- Newly staked sAERO can begin to allocate AERO Rewards to liquidity pools on Aero.
- veAERO and veVELO used to vote in the final voting rounds of Aerodrome and Velodrome must wait one more hour to upgrade to sAERO.
- October 22, 01:00 UTC
Final-epoch voters can upgrade
- veNFT holders who voted in the final epoch can now upgrade to sAERO from the Upgrade portals at aerodrome.finance and velodrome.finance.
- Upgraded sAERO can begin allocating AERO Rewards to pools on Aero to earn exchange revenue.
- October 22, 16:00 UTC
Autopilot begins
Autopilot will be subject to the same cooldown period as other sAERO. For this reason, token operators who wish to configure automation through Autopilot will need to enter a queue and will only start to earn rewards with the next allocation.
The first allocation for Autopilot is currently scheduled for . sAERO deposited into Autopilot before this time will not begin to earn until this first allocation is made.
FAQs
What is sAERO?
sAERO is staked AERO, and it replaces veAERO and veVELO. sAERO gives holders the ability to direct AERO Rewards to pools and to earn Exchange Revenue from those pools.
When can I start allocating?
Allocation begins at . Any veNFT that participated in the final voting round of Aerodrome and Velodrome must wait until to upgrade and participate.
Why do final-epoch voters wait until 9:00 PM EDT?
To allow for final protocol operations to take place and ensure final rewards and rebases are claimable before upgrade.
Will there be any incentives at launch?
The Aero Foundation will be depositing liquid AERO as incentives from the liquid incentive budget it received at Aerodrome's launch to support Aero's migration. The value of liquid AERO earmarked for incentives will be roughly equivalent to the final voting rewards accrued on Aerodrome and Velodrome locked in gauges during the upgrade. These incentives will be distributed over the course of several weeks. To recoup the value fronted as incentives, The Aero Foundation plans to reactivate the gauges at a later date in order to reclaim locked fees.
Does my lock duration carry over?
Yes. Your sAERO keeps the time remaining on your veNFT, rounded up to the next full week. A permanent lock becomes an sAERO at Maximum Stake Duration.
Do I keep my veNFT ID?
No. Your veNFT is retired during the upgrade, and you receive a new sAERO position.
What does "reset your votes" mean?
A reset clears your veNFT's active votes on Aerodrome or Velodrome. A veNFT with active votes cannot be upgraded. The upgrade flow includes the reset as a step.
Do I need to claim rewards before I upgrade?
Yes. The upgrade flow takes you through the claiming process.
Can I upgrade a veNFT that is in a Relay or held by another protocol?
No. Get it back into your own wallet first.
Can I merge or split sAERO?
You can combine sAERO positions at launch. Splitting is not available at launch.
Do I need ETH to upgrade?
Yes, a small amount of ETH is needed to cover the network fee for the upgrade process (ETH on Base for Aerodrome, and ETH on OP Mainnet for Velodrome).
What if I am using a multisig?
Upgrade supports multisig wallets, and there will be additional steps in the upgrade process for multisig users. Multisig users will be required to denote a destination wallet for their upgrade. The destination wallet must support the Base network.
When does Autopilot start?
Autopilot makes its first allocation at with the sAERO deposited up to that point. If you want to participate in the first round of Autopilot rewards, do not allocate rewards prior to this. Autopilot operates on the same cooldown as all sAERO positions.
Liquidity Providers
The upgrade portals on aerodrome.finance and velodrome.finance will open at , making it easy to migrate liquidity deposits to pools on the new Aero. Gauges will be active at launch and AERO Rewards will be streaming, directed by sAERO holders using Predictive Allocation.
Timeline
- October 10 – 20Before the upgrade portals open
Pre-launch checklist
- All deposits using ALM on Aerodrome and Velodrome should be withdrawn ASAP and manually managed. The current ALM solution is winding down, stopping automated rebalancing ahead of the launch.
- On Velodrome, all VELO-earning deposits on chains other than OP Mainnet and Ink should be unstaked as gauges on other chains are shut down.
- Any deposit on Lisk should be withdrawn before October 31.
- October 22, 00:00 UTCLaunch
Aero launches
- Aerodrome and Velodrome emissions stop at epoch flip.
- New AERO emissions start.
- Upgrade portals open on aerodrome.finance and velodrome.finance.
- Liquidity providers can migrate deposits to pools on Aero using the upgrade portal on Aerodrome and Velodrome.
FAQs
When can I move my liquidity?
From October 21, once Aero pools go live. Liquidity in eligible Aero pools can earn AERO Rewards from .
Which pools are eligible to earn AERO Rewards at launch?
After launch, check the Aero app to see which pools are eligible to earn AERO Rewards.
Can I create a new pool?
Yes. Anyone will be able to create a pool on Aero.
Can I upgrade if I am LPing in a pool that includes a token paired with VELO?
VELO exists on OP Mainnet but the upgraded AERO exists on Base. Users LPing in a pool that pairs with VELO should withdraw from their position, upgrade their VELO, and bridge it back to OP Mainnet to begin LPing in an upgraded pool.
What if I am using a multisig?
Upgrade supports multisig wallets, and there will be additional steps in the upgrade process for multisig users. Multisig users will be required to denote a destination wallet for their upgrade. The destination wallet must support the Base network.
What if there's no matching pool for my liquidity deposit on Aero?
Not all pools on Velodrome and Aerodrome will have comparable pools on the new Aero at launch. For deposits without a 1:1 pool destination in the upgrade flow, manual withdrawal will be required and new pools can be created on the Liquidity tab.
For Partners
This section covers additional detail for those who integrate Aero, manage liquidity for others, hold locks as a protocol, pay incentives, or make markets.
Upgrading your own holdings?
- Liquid AERO or VELOAERO & VELO Holders
- veAERO or veVELOveAERO & veVELO Holders
- Liquidity depositsLiquidity Providers
Aggregators and integrators
- Aero contracts will be deployed before launch on October 21.
- Integration partners receive contract addresses directly at deployment. Addresses are also published in Aero's public GitHub repositories, followed by a security page in the Aero docs. Verify any address you receive against those sources.
- Gauges are activated within the first hour after launch on .
- Aerodrome and Velodrome pools stay live but stop receiving emissions at launch.
ALMs and vaults
- Users should withdraw from ALMs on Aerodrome and Velodrome. Positions will not move automatically.
- Liquidity in eligible Aero pools can begin to earn AERO Rewards from .
- If a pair you manage has no Aero pool, anyone can create a Basic or Slipstream pool on Aero.
Protocols holding locks
If your protocol holds veAERO or veVELO, your own or on behalf of users:
- Only the wallet that owns a veNFT can upgrade it. Locks held in a vault, lending market or other contract must go back to their owner first, or be upgraded by the protocol that owns them.
- The flow is: claim rewards and rebase, reset votes, upgrade. Anything left unclaimed cannot be recovered after the upgrade.
- Contract wallets and multisigs are asked to confirm a recipient address that supports Base. Transfers to that address cannot be reversed.
- The veNFT ID is retired. Each upgrade creates a new sAERO position, so any system that tracks positions by veNFT ID needs to map to the new position.
- Locks that did not vote in the final epoch can upgrade from . Locks that voted can upgrade from .
- Remaining lock time carries over, rounded up to the next full week. Permanent locks become sAERO at Maximum Stake Duration.
- Velodrome locks upgrade on OP Mainnet and the sAERO arrives on Base. The upgrade includes a cross-chain messaging fee paid in ETH.
Protocols paying incentives
- Deposit your final Liquidity Payments on Aerodrome and Velodrome before epoch flip on October 15. Payments after that date cannot attract liquidity, because the final epoch's emissions are never paid out.
- On Aero, Liquidity Payments stream continuously over a set period. You can deposit from launch, .
- Each sAERO position has a 47-hour cooldown between allocation changes, and Autopilot makes its first allocation at . Payments that are live at launch are visible to the first round of allocations.
- The Aero Foundation will deposit AERO incentives on Aero pools in the weeks after launch.
Market makers
- Liquid AERO and VELO upgrade from , with no cooldown. VELO upgraded on OP Mainnet arrives as AERO on Base.
- New AERO is transferable as soon as you receive it.
- 1 AERO becomes 1 AERO. 1 VELO becomes ~0.044 AERO.
- Aero has coordinated with all major exchanges on the upgrade details and timeline. Each exchange runs its own process and timeline.
- The AERO token address will be shared through official Aero channels on launch day.
Relay operators
- Operators are encouraged to call
vote([],[])on their Relay contract as soon as possible (address is found next to your Relay name on the Lock page). - After the old gauges are disabled, this vote transaction is required in order to withdraw veNFTs from the Relay.
Locked liquidity
- Partners that locked liquidity in the Aerodrome pool launcher will be able to migrate their liquidity when the locks expire. Coordinate with your Aero contacts for assistance.
- For locked liquidity with a long-time horizon, liquidity will no longer earn AERO rewards after all gauges are deactivated. Liquidity can be unstaked and continue earning fees.
- Aggregators will continue to service liquidity in Aerodrome pools.
