Aerodrome Finance just turned on AERO token emissions for its MXNB/USDC liquidity pool, effectively paying people to provide liquidity for onchain transactions between the US dollar and the Mexican peso.

MXNB is a stablecoin pegged to the Mexican peso, issued by Juno, a subsidiary of Bitso. For anyone unfamiliar with Bitso, it’s one of the largest crypto exchanges in Latin America.

What AERO emissions actually mean for this pool

Liquidity providers who deposit MXNB and USDC into the pool now earn AERO token rewards on top of whatever trading fees the pool generates. You get paid twice for supplying liquidity: once from people actually swapping between the two assets, and again from the protocol’s emissions schedule.

The mechanics behind this are driven by Aerodrome’s veAERO governance model. Holders of veAERO, the vote-escrowed version of the AERO token, vote every week on which liquidity pools receive emissions. For every epoch, 100% of protocol fees generated by a pool are distributed to the veAERO holders who voted for that pool.

Why a peso stablecoin on Base matters

Aerodrome uses a dual-pool model that separates stable asset pools from volatile asset pools. The MXNB/USDC pair fits into the stable pool category, since both assets are stablecoins pegged to their respective fiat currencies.

This isn’t Aerodrome’s first move to diversify its pool offerings. The platform has previously activated emissions for other pairs like CTR/USDC. But adding a region-specific fiat stablecoin pair is a different kind of bet.

Bitso’s decision to deploy MXNB through its Juno subsidiary specifically on Base suggests that the Coinbase-incubated network is becoming a preferred destination for institutional-grade stablecoin projects in the region.

What this means for investors

For liquidity providers, the MXNB/USDC pool now offers a dual revenue stream: trading fees plus AERO emissions. The risk profile is relatively contained compared to volatile token pairs, since both sides of the pool are stablecoins. Impermanent loss is minimal when both assets maintain their pegs.

That said, the risks aren’t zero. MXNB is a newer stablecoin, and its peg stability will depend on Juno’s reserve management and redemption mechanisms. Investors should evaluate the backing and audit status of MXNB before committing capital.