Aerodrome and Velodrome merge into Aero, targeting a $63 billion TVL market

Two of DeFi’s better-known liquidity hubs are becoming one. Aerodrome Finance and Velodrome Finance are merging into a single platform called Aero, and the pitch is all about reach. According to the announcement, Aero will grow its addressable market from $7 billion to over $63 billion in total value locked. It will also serve chains that together handle $135 billion in monthly trading volume. What the merger actually involves The consolidation was announced in mid-November 2025. The integration is set to go live in October 2026. The end product is meant to be simple on the surface. Users get one token and one interface instead of two of each. Under the hood, Aero merges the existing ve(3,3)-style tokenomics that both Aerodrome and Velodrome run on. Holders lock up tokens for a period of time, receive voting power in return, and use that power to steer where new token rewards flow. Combining two of these systems into one means a single set of voters directing incentives across a much bigger map. The unified protocol is planned to operate across chains including Base, Optimism, and Ethereum mainnet. What happens to VELO holders For anyone holding VELO, the key question is the swap. ...