Coinbase will support the AERO and VELO token migration from November 2 to 4, 2026

Coinbase plans to handle the token migration for one of DeFi’s more unusual corporate reunions. From November 2 to 4, 2026, the exchange will convert existing Aerodrome (AERO) and Velodrome (VELO) tokens into a new, unified AERO token.

This is the exchange-side piece of a larger merger. Two decentralized exchanges built by the same team are folding into a single platform called Aero. For anyone holding either token on Coinbase, the swap should happen without their involvement.

How the Coinbase migration works

Coinbase announced its support for the conversion on October 1, 2026. The migration window runs three days, from November 2 through November 4.

During that period, deposits and withdrawals of the legacy tokens will be paused temporarily. Coinbase won’t be sending or receiving old AERO or VELO while the conversion runs.

VELO trading will be wound down in stages. It first moves to limit-only mode, where traders can place resting orders but can’t execute instantly against the book. After that, VELO trading is disabled entirely.

The conversion rates are not equal, which is the part holders will care about most.

• AERO holders: 1 old AERO converts to 1 new AERO.
• VELO holders: each VELO converts to approximately 0.044 new AERO.

Coinbase will not charge fees to users who take part in the migration.

Why the split favors Aerodrome

Holders of Aerodrome will receive approximately 94.5% of the new AERO supply. Velodrome holders get the remaining 5.5%.

That allocation follows the revenue each protocol produced over the 52 weeks before the merger was announced. In that window, Aerodrome generated $260 million. Velodrome generated $15 million.

The irony is that Aerodrome started life as the younger copy. It launched on August 28, 2023, on Base as a fork of Velodrome V2. Velodrome runs on Optimism. Within a couple of years, the fork had outgrown the original by a wide margin.

Both protocols run on the same token design, known as ve(3,3), developed by Dromos Labs. That is the company operating both exchanges.

The road to a single Aero

Dromos Labs first revealed the merger plan on November 12, 2025. The goal is to fold the two exchanges’ liquidity and governance into one DEX operating under the Aero name.

Aero is designed to span several networks. Those include Base, Optimism, and Ethereum mainnet. The unified platform is targeting an October 21, 2026, launch, with OP Mainnet and Ink among the initial chains.

That means the platform is set to go live before Coinbase finishes converting balances. Users who hold tokens directly in their own wallets will interact with the protocol’s own migration process. Coinbase customers have the exchange doing the paperwork for them.

After merger news landed in late September 2026, AERO climbed 25.5% to $0.89. VELO jumped 22.1%, touching an intraday price of $0.038.

What this means for holders and DeFi

For VELO holders on Coinbase, the practical message is simple. If you want to trade VELO on the exchange, the window is closing. Once limit-only mode kicks in, flexibility shrinks. After trading is disabled, the only remaining outcome is conversion into new AERO at roughly 0.044 per token.

For AERO holders, the 1:1 swap means the token count in your account shouldn’t change. What changes is what that token represents. It becomes a claim on a combined, multi-chain exchange rather than a Base-only one.

The temporary pause on deposits and withdrawals is the operational risk worth noting. Anyone planning to move legacy tokens on or off Coinbase in early November should plan around those three days.

The dates to watch are October 21, 2026, for the Aero launch, and November 2 through 4 for the Coinbase conversion.