Onchain markets win: faster, cheaper, 24/7
Aero wins onchain markets: an economic system optimized for high-value asset classes
AERO owns the upside: anyone can stake, participate, and earn a share of exchange revenue https://t.co/5ck2tiBEaV
3.2/ 5
Our score
Fair
Chains
BaseOther
Type
AMM
Audited
Yes
Governance token
AERO
What is Aerodrome?
Aerodrome is an automated market maker and liquidity hub on Base. It supports token swaps and liquidity provision through standard pools and Slipstream concentrated-liquidity pools. TVL was about $232.6 million on October 16, 2026. A scheduled merger with Velodrome will create the unified Aero protocol on October 21, 2026.
How Aerodrome works
Trading takes place through AMM pools rather than an order book. Slipstream lets liquidity providers place funds within selected price ranges, which can improve capital efficiency but can also leave positions exposed to range-specific price movement. AERO can be locked for up to four years to receive a non-transferable veAERO voting NFT. veAERO holders vote on weekly liquidity emissions and receive protocol-fee sharing while directing incentives toward pools.
Aerodrome is currently available on Base. The planned Aero deployment covers seven EVM-compatible chains: Base, Ethereum Mainnet, OP Mainnet, Arc, Ink, Arbitrum and Robinhood Chain. The migration terms state that existing AERO converts to new AERO at 1:1, while VELO converts at approximately 0.044 AERO per VELO. Existing locks retain their remaining duration.
Fees and access
Users connect a compatible wallet and pay the applicable pool fee plus Base network transaction costs. AERO emissions make liquidity provision and governance participation dependent on the protocol’s token economy. The exchange operates through smart contracts rather than a centralised custody account, so users retain wallet control while taking on contract and market risks.
Track record
Aerodrome launched on Base in August 2023. A MixBytes audit is recorded for 2025. In November 2025, a DNS hijacking attack affected the .finance and .box domains. Visitors were redirected to a malicious copy of the frontend; the underlying protocol smart contracts were not affected. The reported root cause was an insider threat at NameSilo.
Risks and limitations
AMM users face slippage, impermanent loss, smart-contract exploits and MEV. Concentrated liquidity adds range-management risk. The November 2025 frontend incident shows that domain infrastructure can expose users to phishing even when contracts remain intact. The scheduled merger also introduces migration and launch risk across seven chains. AERO emissions and veAERO voting shape liquidity, affecting rewards and pool depth as governance decisions change.
Best for:Base token tradersConcentrated-liquidity providersveAERO governance participantsAERO liquidity strategists
Pros and cons
Pros
- $232.6 million TVL on Base as of October 16, 2026
- Concentrated-liquidity pools through Slipstream
- veAERO holders direct weekly liquidity emissions
- MixBytes audit recorded for 2025
- Planned seven-chain Aero deployment
Cons
- Currently focused on Base before the planned merger
- AMM trades carry slippage and impermanent-loss risk
- AERO rewards depend on governance emissions
- November 2025 DNS attack redirected visitors to a malicious frontend
Our review
3.2/5
Fair
Aerodrome has deep Base liquidity and veAERO-directed incentives, but its single-chain availability and 2025 frontend attack limit its flexibility and security record.
Aerodrome is an AMM-based DEX and liquidity hub on Base, with concentrated liquidity available through Slipstream. Its TVL was about $232.6 million on October 16, 2026. That provides liquidity for Base trading, although it remains dependent on one live chain until the planned Aero merger expands deployment.
Slipstream lets liquidity providers place funds within selected price ranges, which can improve capital use but adds range-management risk.
AERO can be locked for up to four years into a non-transferable veAERO voting NFT. Holders receive governance rights and protocol-fee sharing, and they control weekly emissions. The model also creates a weakness: pool returns depend partly on token emissions. About 51% of AERO supply was locked in August 2026, while the E/R ratio was 1.64, placing the protocol in deficit territory after briefly moving below 1.0 in the third quarter of 2025.
The project launched on Base on August 28, 2023. A MixBytes audit is recorded for 2025, and the merger codebase went through a public audit contest in August 2026. The security record still includes a serious operational incident: in November 2025, a DNS hijacking redirected the .finance and .box domains to a malicious copy of the frontend. The underlying smart contracts were not the affected layer, but users interacting through a compromised website faced phishing risk.
Aerodrome suits traders and liquidity providers already using Base who want AMM pools and governance-linked incentives. The scheduled October 21, 2026 merger with Velodrome may change the chain coverage and product scope, but those changes are still ahead of the current Base deployment.
Specs
| Type | AMM |
|---|---|
| Chains | Base, Other |
| Audited | Yes · unverified |
| Governance token | AERO · unverified |
| Points or rewards program | Yes · unverified |
Not disclosed by the provider: KYC required, Swap fee, Limit orders, Cross-chain swaps, Open source, Perpetual futures, Max leverage (x), Routes across other DEXs, MEV protection, Mobile app.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Base AMM swaps
Trades execute through automated market-maker pools on Base, with pricing determined by pool liquidity.
Concentrated liquidity
Slipstream lets liquidity providers select price ranges instead of supplying capital across the full curve.
veAERO governance
AERO can be locked for up to four years for a non-transferable voting NFT and weekly emissions control.
Fee sharing
veAERO holders receive protocol-fee sharing and direct liquidity incentives toward selected pools.
Liquidity provision
Users can supply assets to AMM pools and earn pool fees alongside any applicable AERO emissions.
Aero migration
The scheduled October 21, 2026 merger plans deployment across seven EVM-compatible chains.
Predictive Allocation
Predictive Allocation is integrated into the planned Aero protocol before the merger launch.
Inside Aerodrome
Aerodrome DEX
The main exchange supports token swaps and liquidity provision through automated market-maker pools on Base.
Slipstream
Slipstream provides concentrated-liquidity AMM pools. Liquidity providers can place funds within selected price ranges.
veAERO governance
AERO holders can lock tokens for up to four years to receive a non-transferable voting NFT, direct weekly liquidity emissions and share in protocol fees.
Aero
Aero is the planned unified protocol combining Aerodrome and Velodrome, with day-one deployment scheduled across seven EVM-compatible chains on October 21, 2026.
Aerodrome screenshots
What users say about Aerodrome
Praise focuses on Aerodrome’s role as a major Base liquidity hub and on yield from locking, voting, and providing liquidity. Complaints focus on interface and connection problems, inflation, and uncertainty around the planned merger.
Top goods
In their own words
“Why Aerodrome is the Liquidity Engine Powering base? **1. why Aerodrome is the liquidity engine powering base?** base has been one of the fastest-growing chains in crypto. at the heart of its DeFi ecosystem? Aerodrome Finance — the central liquidity hub and top DEX on Base.”
“About Locking Aero A. To Lock, go to Aerodrome.finance B. Longer locks = higher weekly % earned. 4 yrs = 100%, 3 yrs = 75%, 2 yrs = 50%, etc. If your lock decays, rewards drop—this is why 95%+ keep max locks. Weekly yield varies based on pool performance: roughly 0.57%–1.37% per week. C.”
“It’s a great utility coin to earn yield through all kinds of markets. Best to lock and vote while holding onto some liquid AERO, that way you can capture gains during pumps too. Rinse and repeat, then continue to grow those bags!”
“Help I’m new to crypto, but I’ve been diving in pretty hard the last month. I’ve attempted to deposit into liquidity pools 3-4 times. 3 of those times were met with extreme difficulty. I mean spending hours trying to figure out what’s not allowing me to intereact with the pool.”
“Unstake button is not activated Hello, good afternoon from Spain. I'm hoping you can help me I can't disable the STAKE because the unstake button is not activated in any of the pools (see image).”
“thats my issue as well, he spent 2y swinging on Uni and every other project in the space bragging about "solving the trilemma" to have both velo/aero get wiped out and replaced by Dromos... when you have "solved" something thats not how it plays out...”
Scam warning: A DNS compromise redirected Aerodrome’s frontend to a fake site that displayed malicious drainer code and requested harmful wallet approvals.
Scam warning: Users reported an identical-looking replacement site that asked them to approve malicious transactions.
Based on 200 Reddit posts and comments from the last 12 months, checked Oct 18, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used Aerodrome? Share your experience below.
FAQ
Where is Aerodrome available?
Aerodrome is currently available on Base. A unified Aero protocol is scheduled to deploy on Base, Ethereum Mainnet, OP Mainnet, Arc, Ink, Arbitrum and Robinhood Chain on October 21, 2026.
Is Aerodrome safe?
Aerodrome has a MixBytes audit recorded for 2025, but its .finance and .box domains were hijacked in November 2025 and redirected to a malicious frontend. The incident affected the website layer rather than the underlying protocol smart contracts.
Does Aerodrome have a token?
Yes. AERO is Aerodrome's governance token. Locking AERO for up to four years creates a non-transferable veAERO voting NFT with governance rights, protocol-fee sharing and control over weekly liquidity emissions.
What is Slipstream on Aerodrome?
Slipstream is Aerodrome's concentrated-liquidity AMM system. Liquidity providers place funds within selected price ranges instead of supplying the same liquidity across the full price curve.
Latest from Aerodrome on X
Ten days in and the #1 pool on @RobinhoodCrypto is now on Aero.
Onwards 🛫 https://t.co/5RuubDMl3N
Onwards 🛫 https://t.co/5RuubDMl3N
Over 200M AERO bought back to date 🛫
Autopilot is LIVE ✈️
Want to earn exchange revenue on Aero but don't want to manually participate in the allocation process?
Autopilot is for you.
sAERO holders can now set up Autopilot to automate everything from initial pool selection to reallocation and revenue claiming
🧵 https://t.co/R1Uzu6gGie
Want to earn exchange revenue on Aero but don't want to manually participate in the allocation process?
Autopilot is for you.
sAERO holders can now set up Autopilot to automate everything from initial pool selection to reallocation and revenue claiming
🧵 https://t.co/R1Uzu6gGie
A new destination is on the horizon 🛫 https://t.co/oo00gR1ond
Recent public posts from @aeroxyz, shown as published. Not reviewed or endorsed by CryptoReview.
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