Aerodrome, Velodrome Merger Set To Start Oct. 21 With Token Swap

Aerodrome and Velodrome will begin their merger Oct. 21 at 8 p.m. ET (Oct. 22 at 00:00 UTC), ending token emissions from both legacy platforms and starting a new conversion process.

Each existing AERO can be exchanged for one new AERO. Each VELO will convert to about 0.044 AERO, with the ratio based on the token supply at launch. The same terms apply to circulating and locked tokens.

Existing veAERO and veVELO positions will become sAERO positions. Remaining lock periods will carry over and be rounded up to a full week, while permanently locked positions will convert into the longest staking term.

The tokens will not convert automatically. Self-custodied assets must be processed through an Aerodrome or Velodrome upgrade portal after holders claim rewards and rebases and clear active votes.

The new system will replace weekly voting cycles with real-time allocation. sAERO holders will be able to direct rewards to liquidity pools, with returns accumulating from exchange revenue. A 47-hour cooldown will apply during the initial allocation adjustments.

The merger was announced in November 2025 and was initially planned for the second quarter of 2026. The conversion process is scheduled to begin Oct. 21.