Aerodrome Finance (AERO)USD

Aerodrome Finance is a decentralized exchange and liquidity hub on the Base blockchain, used for token swapping and directing liquidity through a vote-escrow model. It uses a Ve(3,3)-style automated market maker design: liquidity providers earn AERO token emissions, and governance participants lock AERO as veAERO to vote on how those emissions are distributed across pools. The protocol launched in 2023 on Base with an initial supply of 500 million AERO and weekly emissions of 10 million AERO per epoch, with the rate adjusted over time. Base runs on Ethereum's proof-of-stake consensus, and Aerodrome operates as an application layer on top of it rather than maintaining its own consensus mechanism. The native token, AERO, is an ERC-20 token used for liquidity incentives, governance voting (when locked as veAERO), and fee sharing among veAERO holders. The supply model is inflationary with no fixed maximum. As of 2026, total supply has grown to roughly 1.9 to 2 billion AERO through ongoing emissions, with around half circulating and the remainder locked in veAERO positions. Aerodrome Finance functions as a DeFi liquidity and governance protocol on Base rather than a general-purpose payments network.