50 Million+ in Voter Rewards YTD ✈️ Each week veAERO holders vote to coordinate liquidity on Aerodrome. In return, they earn a share of 100% of the exchange's revenue. Become a veAERO voter & start earning today.

One Year. $120M in Voter Rewards ✈️ Each week, veAERO holders vote to coordinate the flow of liquidity on Aerodrome. In return, they earn a share of 100% of the exchange's revenue. Lock. Vote. Earn.

What makes Aerodrome different? Each week, veAERO holders vote to coordinate the flow of liquidity on Aerodrome. In return, they earn a share of 100% of the exchange's accrued revenue. To date, voters have earned more than $480M. Lock in and become a veAERO voter today ✈️

Tokenized stocks are opening up a new market for Aero. With pools like USDC/AMZNc and USDC/MSTRc, @aeroxyz is giving tokenized equities a place in DeFi where trading activity can generate fees and liquidity providers can compete for returns. That also matters for veAERO voters. They direct emissions toward pools and earn a share of eligible exchange revenue, connecting their returns to the markets they choose to support. As these stock markets grow, more trading activity can mean more fees flowing through Aero. And the assets themselves have uses beyond trading. Coinbase’s tokenized equities are now accepted as collateral on Aave V4 on Base, allowing eligible users to borrow USDC against holdings such as AMZNc. That gives these assets another role in the DeFi economy, with the usual borrowing costs and liquidation risks. The opportunity here goes beyond putting familiar stocks onchain. It’s about building markets around them, generating fees from their use, and making them composable with the rest of DeFi. Aero can benefit from that shift as tokenized assets move from simply being held onchain to being actively used.

DACM is a digital asset investment manager active across the crypto ecosystem through a fundamentals-first lens. The @DigiAssetFund Liquid Venture Fund has market-acquired AERO and locked its position as veAERO, voting weekly to earn its share of fees.

four Coinbase stock wrappers now trade on Aerodrome, but with supply at $7.3m, the launch should add little near-term demand for liquid AERO. fees go to veAERO voters, so traders must keep paying without subsidies and holders must lock AERO before the launch supports the token.

from here, AERO gets the clearest direct upside from Coinbase's four Base stock tokens if traders generate sustained volume on Aerodrome. veAERO voters receive qualifying fees from gauge-staked stock/USDC liquidity. the four pools hold about $2.84m gross, with nearly all of it in four active gauges. the tokens represent $4.58m of equity, just 0.1846% of distributed tokenized-stock value, so the current scale is too small to drive a broad AERO move.

2025–2026, imo, is the period that showed the clearest value of tokens backed by real revenue and real value capture. Thousands of projects disappeared when attention and liquidity moved elsewhere. But protocols with real products, real users and real revenue are still here. And more importantly, some of them are finding ways to return that revenue to the token. Look at the current numbers: – @HyperliquidX $HYPE: ~$60M holder revenue in 30D, with most trading fees flowing into HYPE buybacks – @CantonNetwork $CC: ~$49M in 30D, with network fees used to burn CC – @trondao $TRX: ~$24M in 30D, with network fees continuously burning TRX – @Pumpfun $PUMP: ~$24M returned to holders in 30D through token buybacks – @uniswap $UNI: ~$16M in 30D, with protocol fees now flowing into UNI buyback/burn – @ponsdotfamily $PONS: ~$15M in 30D, with a large part of revenue used for buyback and burn – @aeroxyz $AERO: ~$14M in 30D, with trading fees distributed to veAERO voters – @LaunchOnSF $STONK: ~$10M in holder revenue, mainly through market buybacks – @PancakeSwap $CAKE: ~$5M in 30D, with revenue from multiple products used to buy back and burn CAKE – @Aster_DEX aster-2:native: ~$4.6M in 30D, with most platform fees currently used to buy back ASTER For me, the more interesting model is: Real users → real fees → real revenue → real token capture. I think this will become one of the metrics worth watching much more closely in the next phase of the market. NFA.

base:0x940181a94a35a4569e4529a3cdfb74e38fd98631 looks primed to rip higher over the next 10 days before the Aero upgrade I had previously weighted base:0x940181a94a35a4569e4529a3cdfb74e38fd98631 slightly lower in my core positions because I worried that the tokenomics were too complicated for institutions and whales to understand and feel comfortable bidding. @citrini not only included base:0x940181a94a35a4569e4529a3cdfb74e38fd98631 in their token basket, they had it at the same weight as $HYPE and nearly twice the weight of ethereum:0x1f9840a85d5af5bf1d1762f925bdaddc4201f984. Don't think the market has fully digested how much that stamp of approval means. I also worried that there could be some last minute delay, as the previous Aero launch date delay led to a considerable nuke. With the greenlight for launch on 10/21 and the recognition from Citrini, both of those risks are removed, and I now feel considerably higher conviction on base:0x940181a94a35a4569e4529a3cdfb74e38fd98631. Previously to the Citrini piece, I expected most people to stay sidelined and wait for the flywheel to fundamentally prove itself post Aero upgrade. @wagmiAlexander expects spot volumes to roughly double by EOY, so that was my timeline where a rerating would organically occur without speculative fervor. I'm now of the opinion that this recent bit of attention will cause price to lead fundamentals, and we might actually get a real pre-upgrade breakout. The early August 2025 price action where base:0x940181a94a35a4569e4529a3cdfb74e38fd98631 doubled from $0.75 to $1.50 in just 10 days is a good example of what I think could happen in the pre-upgrade window. Due to how much supply is locked in LPs and veAERO, base:0x940181a94a35a4569e4529a3cdfb74e38fd98631 is naturally extremely reflexive. It's very difficult to justify why ethereum:0x1f9840a85d5af5bf1d1762f925bdaddc4201f984 is trading at 5x the market cap of base:0x940181a94a35a4569e4529a3cdfb74e38fd98631. I don't expect parity until after the upgrade, but I do think there's a world where base:0x940181a94a35a4569e4529a3cdfb74e38fd98631 rerates to 50% of ethereum:0x1f9840a85d5af5bf1d1762f925bdaddc4201f984 market cap as the sidelined scramble to get exposure prior to the 10/21 upgrade. This coincides nicely with a run at the previous base:0x940181a94a35a4569e4529a3cdfb74e38fd98631 ATH of ~$2.30.