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What Is Aerodrome?

Aerodrome Finance (ticker AERO) is the leading decentralized exchange (DEX) and central liquidity marketplace on Base, the Ethereum Layer 2 network incubated by Coinbase. Launched in August 2023 alongside Base's public rollout, Aerodrome quickly became the chain's dominant trading and liquidity venue, regularly accounting for a large share of all DEX activity on Base. AERO is an ERC-20 token native to Base.

Aerodrome was built by the team behind Velodrome, the leading DEX on the Optimism network, operating under Dromos Labs. Aerodrome is effectively Velodrome's sister protocol for Base, built on the same proven technology. The founding team was largely pseudonymous until a public reveal in late 2025; Alexander Cutler, the CEO of Dromos Labs, is the most prominent named figure.

The protocol uses a model known as ve(3,3), which combines vote-escrow tokenomics with incentive alignment. Users lock AERO to receive veAERO, held as an NFT, with longer locks granting more voting power. Each week, veAERO holders vote on which liquidity pools should receive AERO emissions. Liquidity providers earn those AERO emissions, while the voters earn the trading fees and external incentives from the pools they vote for. This design aligns liquidity, trading volume, and token holders around the pools the community deems most valuable.

Aerodrome later added Slipstream, a concentrated-liquidity pool type similar to Uniswap V3, which lets liquidity providers focus their capital within specific price ranges for greater efficiency. Between its core ve(3,3) pools and Slipstream, Aerodrome serves as the primary liquidity layer that other Base applications rely on.

AERO does not have a fixed maximum supply; it follows an emissions-based model. It launched with an initial supply of 500 million tokens, with 90 percent locked as veAERO at genesis. Weekly emissions rise during an initial "take-off" phase and then gradually decay, and a rebase mechanism partially offsets dilution for those who lock their tokens. Eventually, control over emissions shifts to veAERO voters, who can adjust monetary policy within set bounds.

Aerodrome's growth has been closely tied to Base's. Early backing from the Base Ecosystem Fund, led by Coinbase's venture arm, and Coinbase's later integration of Base DEXes into its app helped cement Aerodrome as the chain's liquidity hub. Coinbase invests in and integrates with Aerodrome but does not own or operate the protocol.

Getting Started With Aerodrome

Using Aerodrome means getting onto Base and connecting a wallet:

  1. Step 1: Set up an EVM wallet such as Coinbase Wallet, MetaMask, or Rabby.
  2. Step 2: Bridge ETH or stablecoins to Base, for example through the official Base bridge or by withdrawing from Coinbase directly to Base.
  3. Step 3: Connect to the Aerodrome app and swap for AERO, or provide liquidity to a pool to earn emissions.
  4. Step 4: To take part in governance and earn fees, lock AERO into veAERO and vote on weekly emissions.

How to Get an Aerodrome Wallet?

AERO is a Base (EVM) token, so any wallet that supports Base will work.

Coinbase Wallet

Coinbase Wallet is a natural fit for Base, with straightforward bridging and direct support for Base tokens like AERO and the Aerodrome app.

MetaMask

MetaMask can be configured for the Base network to hold AERO, provide liquidity, and lock veAERO. Rabby is another DeFi-focused option with helpful transaction previews.

Hardware Wallets

A Ledger device can be paired with Coinbase Wallet or MetaMask to keep your keys offline, which is recommended for larger holdings and long veAERO locks.

Aerodrome Resources

How to Buy Aerodrome?

AERO can be bought directly on Base or on centralized exchanges.

Centralized Exchanges

AERO is listed on exchanges including Coinbase, Bybit, Kraken, Gate, KuCoin, MEXC, and Bitget, typically against USD or USDT.

Decentralized Exchanges

The most native way to buy AERO is on Aerodrome itself: bridge assets to Base, connect your wallet, and swap into AERO. From there you can lock veAERO or provide liquidity.

Latest Aerodrome News

The most significant recent development is a planned consolidation of Aerodrome and its sister protocol Velodrome into a single product called "Aero," announced in November 2025 by Dromos Labs, with a launch targeted for 2026. The unified protocol is set to keep the AERO token, expand to additional networks while keeping Base as its hub, and introduce an upgraded version of Slipstream. Until that launch, Aerodrome continues to operate under its own name on Base.

Aerodrome has set records for weekly trading volume on Base and remains the chain's largest DEX by liquidity. Because total-value-locked and volume figures are constantly changing, the official website, documentation, and GitHub are the best sources for the current state of the protocol and the status of the Aero transition.