Aerodrome Finance
AERO- Analisado
- 21 de out. de 2026
- Motor
- v5.2.0
- Calculado
- 2026-10-21 11:51 UTC
- Hash de entradas
- feb634605984
O Pro desbloqueia Aerodrome Finance por completo. Variação, cenário, sinal, fatores de risco, catalisadores.
Pesquisa, não constitui aconselhamento financeiro. Leia os termos.
Evidências dos pilares
Conjunto de dados 21 de out. de 2026. 8 fontes, 12 citações.Em inglês
Sustentabilidade82
Transparência78
Receita86
Inovação85
Comunidade80
Tokenomics68
Fontes
- 1defillama.com/protocol/aerodromeCitado por Sustentabilidade, Receita
- 2aerodrome.finance/docsCitado por Sustentabilidade, Comunidade
- 3github.com/aerodrome-finance/contractsCitado por Transparência
- 4basescan.org/token/0x940181a94A35A4569E4529A3CDfB74e38FD98631Citado por Transparência, Tokenomics
- 5github.com/aerodrome-finance/relayCitado por Receita
- 6github.com/aerodrome-finance/slipstreamCitado por Inovação
- 7thedefiant.io/news/defi/dromos-labs-merges-aerodrome-and-velodrome-into-new-dex-aeroCitado por Inovação
- 8coingecko.com/en/coins/aerodrome-financeCitado por Comunidade, Tokenomics
Sobre Aerodrome Finance
Análise de 21 de out. de 2026Em inglês Tradução pendente: esta análise é apresentada em inglês.
Aerodrome Finance (AERO) is the primary automated market maker and liquidity hub on the Base Layer-2 network. As of October 21, 2026, the protocol holds $381.1 million in total value locked according to CoinGecko and DeFiLlama.
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Slipstream concentrated liquidity pools account for $214.8 million of that total, while classic V1 pools hold $140.6 million. Through its vote-escrow model, the exchange directs 100% of swap fees and voter incentives to locked token holders.
Trailing 12-month protocol fees reached $124.5 million, generating $87.8 million in holder revenue. On October 21, 2026, developer Dromos Labs launched the MetaDEX03 upgrade to merge Aerodrome and Velodrome into the unified Aero exchange.
Circulating supply stands at 982.9 million AERO out of 2.002 billion total tokens, or 49.1% circulating.
Tese de investimento
Aerodrome Finance operates one of the largest cash-flow engines in decentralized finance. Unlike exchanges that retain swap revenue for foundation treasuries, the protocol distributes 100% of trading fees and external bribes to token lockers.
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DeFiLlama data on October 21, 2026 shows $11.72 million in 30-day fees and $7.85 million in 30-day holder revenue. Over the trailing 12 months, cumulative swap fees reached $124.5 million and holder revenue totaled $87.8 million.
Strategic scale expanded on October 21, 2026 when Dromos Labs merged Aerodrome and Velodrome into Aero via MetaDEX03, according to The Defiant. Existing AERO tokens convert 1:1 and receive 94.5% of the initial unified supply, while VELO holders receive 5.5%.
This consolidation brings Slipstream V3 and real-time sAERO governance to Ethereum mainnet, Arbitrum, Circle's Arc, and Robinhood Chain. Supply dilution remains the central risk because 982.9 million circulating tokens represent 49.1% of the 2.002 billion total supply with no hard cap.
A BUY rating is supported by $381.1 million in Base TVL and direct fee accrual.
Pontos fortes
- Market-leading liquidity hub on Base holding $381.1 million in TVL across $214.8 million in Slipstream pools and $140.6 million in V1 pools.
- Complete fee pass-through generated $124.5 million in trailing 12-month swap fees and $87.8 million in holder revenue for locked token voters.
- The October 21, 2026 MetaDEX03 Aero merger allocates 94.5% of initial unified supply to AERO holders at a 1:1 token conversion ratio.
- Slipstream V3 concentrated liquidity and automated Relay vaults maximize capital efficiency while capturing arbitrage value for liquidity providers.
Riscos
- Circulating supply of 982.9 million AERO equals 49.1% of the 2.002 billion total supply with no maximum cap, creating ongoing dilution risk.
- Cash flows and $381.1 million in TVL remain heavily concentrated on the Base Layer-2 network during the initial multi-chain Aero transition.
- Deploying MetaDEX03 contracts across Ethereum mainnet, Arbitrum, Circle's Arc, and Robinhood Chain increases smart-contract and cross-chain routing exposure.
- Intense fee and routing competition from Uniswap on Base and established multi-chain exchanges could compress swap margins.
Posição competitiva
Aerodrome commands the primary liquidity layer on Base with $381.1 million in TVL, outcompeting Uniswap locally through protocol-level voter incentives. Projects launching on Base use gauge bribes to attract deep liquidity at lower cost than direct token emissions.
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With the October 21, 2026 MetaDEX03 merger uniting Aerodrome and Velodrome into Aero, the protocol now challenges Uniswap and Curve across Ethereum and Arbitrum. Slipstream concentrated liquidity accounts for $214.8 million of Base TVL, matching competitor capital efficiency while routing 100% of swap fees to lockers.
Long-term competitive durability depends on whether multi-chain fee growth under sAERO outpaces ongoing token supply expansion.
Conclusão
As of October 21, 2026, Aerodrome Finance combines $381.1 million in Base TVL with $87.8 million in trailing 12-month holder revenue. Routing 100% of swap fees and voter bribes to locked holders provides clear cash-flow backing.
Conclusão completaMostrar menos
The October 21, 2026 MetaDEX03 merger with Velodrome gives AERO holders 94.5% of the unified Aero protocol as it expands to Ethereum and Arbitrum. Investors should weigh a 49.1% circulating supply ratio and uncapped emissions against category-leading fee generation, supporting a BUY rating.