AERO News & Signals

news22h agonews

ICYMI, in less than a week into launch @aeroxyz flipped 50% volume share on another chain in @arc.

It also took 11.6% of @RobinhoodCrypto, 3.1% of @arbitrum, and 2.6% of @ethereum... in mere days.

This was supposed to just be the migration week.

Deliriously excited. https://t.co/UvdNFT5plp

72/100·B+Long

news10/25news

This Week in Virtuals: Native Pearl, Private Payments, and Derive Options for Agents px402 keeps an agent’s address off every x402 @USDC payment. Butler hedges BTC and ETH on @DeriveXYZ, buys native Pearl on @prlnet, copies traders and reprices farms on rule changes. Here’s what shipped: VIRTUALS 🟩 Native Pearl, served on a silver platter: tell Butler how much you want, and it handles every step to deliver native Pearl to your own wallet after one approval. No exchange account, no bridge to run. 🟩 Derive options on autopilot: your BTC and ETH, covered on @DeriveXYZ before every Fed, CPI and jobs release. Tell Butler the drop you can take, and it does the rest after one approval. No calendar, no options math. 🟩 Cross-chain copy trading: tell Butler which traders to follow on X, @fomo, @pumpfun and more. It pulls their wallets together, tracks every move and keeps copying their trades across chains, all inside the limit you set. 🟩 Rule-aware trading: when a protocol changes its rules, Butler reads the change, the team behind it and the conversation on X, checks it against what’s onchain and reprices your position within minutes, without being asked. Starting with Papertrade’s PAPER. 🟩 @eastworlds_io, Virtuals’ robotics data and deployment lab, took part in the global stress test behind @dreamlabs_ai’s Dream-1 launch ECOSYSTEM 🟩 @PRXVTai made private agent payments live on Virtuals Protocol with px402, a privacy layer for x402 that keeps an agent’s address off every payment while merchants still get paid in USDC. 🟩 @Mute_swap added new features that let you get Monero or Zcash instantly on its platform, as it builds the privacy layer for the Virtuals agent ecosystem. 🟩 @itsovercall launched mainnet on Robinhood Chain, with 2,422 positions from 109 players in its first 4 days. Stakers now earn 25% of platform fees paid in its token, and Overcall is listed on @DefiLlama. 🟩 @LighthouseWeb3 raised more strategic funding for a $1.58M total and made Lighthouse Memory payable in its token, with one memory shared across Claude Code, Codex and Cursor. 🟩 @reppo launched Loop in public beta, updating Eval API scores every few seconds instead of a one-off check, and added x402 so any agent can pay for evals on demand. 🟩 @ProjectVEXai put VEX on Cloud into internal testing with off-chain trading and up to 60 days of autonomy, as its agents passed $3.5M in real trading volume. 🟩 @ethy_agent previewed Strategy Lab, the core of its V3 upgrade, for building, backtesting and deploying strategies through chat, coming in Q4. 🟩 @sibyl_labs_ made Sibyl Memory Pro team billing live, so admins can add or remove users with billing adjusting automatically, and its self-learning keeps entities like companies and people up to date. 🟩 @RatehopperAI now supports @aeroxyz, so agents can provide liquidity to Aerodrome pools, automatically choosing the protocol with the highest earning potential. 🟩 @wardenprotocol raised Token Terminal agent limits to $25,000 a day, lets hands-free trading run up to 30 days, and marks agent trades more clearly in your trade history. 🟩 @myrad_hq added Sports as its fourth image category after 300+ users uploaded images in a week, with 4,000+ new users joining in the past month. 🟩 @grid_arena now offers 81 markets with up to 40x leverage, all in one place, with many more markets coming soon. 🟩 @WizzHQ opened the waitlist for @velocityosxyz, its agent that trades for you based on charts, social sentiment and market trends. 🟩 @xmaquina’s DAO passed BOT-15 with 88% approval and 34M+ votes for a strategic allocation in @SkildAI, and portfolio company @NEURARobotics unveiled 4NE1 Gen 4, built for series production.(Historical earnings: For 2026Q1 (period ended 2026-03-31), Robinhood reported basic EPS of 0.39, diluted EPS of 0.38, net income of USD 0.350 billion, and revenue of USD 1.067 billion, versus basic EPS 0.38, diluted EPS 0.37, net income USD 0.336 billion, and revenue USD 0.927 billion in the prior-year period. For full-year 2025 (period ended 2025-12-31), basic EPS was 2.12, diluted EPS 2.05, net income USD 1.883 billion, and revenue USD 4.473 billion. Consensus expectations: Consensus for 2026Q3 (event date 2026-10-27) expects EPS of 0.5548 and revenue of USD 1.431 billion.)

15/100·CNeutral+25

news10/25news

Arthur Hayes(@CryptoHayes) dumped another 14M $ENA ($2.73M) 2 hours ago.

Over the past 24 hours, he has sold $28.8M worth of tokens, making $6.65M in profit.

Most of his profits came from $ETH and $ENA, while he roughly broke even on $UNI, $ETHFI, $AERO, $PENDLE, and $ZAMA.

https://arkm.com/explorer/entity/arthur-hayes

72/100·B+Short+4

meme10/25meme

Arthur Hayes(@CryptoHayes) dumped another 14M $ENA ($2.73M) 2 hours ago. Over the past 24 hours, he has sold $28.8M worth of tokens, making $6.65M in profit. Most of his profits came from $ETH and $ENA, while he roughly broke even on $UNI, $ETHFI, $AERO, $PENDLE, and $ZAMA. https://t.co/e5OXplCGED

72/100·B+Short+3

meme10/25meme

25 分钟前，Arthur Hayes 再把 1400 万枚 ENA ($273 万) 转到 Cumberland 出售。 Arthur Hayes 的清仓出售目前正在执行中：他昨天以来一共转进各交易平台价值 $2881 万的多种代币，现在陆续已从各交易平台提回了 1415 万 USDC。出售的代币包括：ETH、ENA、UNI、ETHFI、AERO、PENDLE、ZAMA。 arkm.com/explorer/entit… -------------------------------------------------------------------------- #Bitget 来了就是VIP！Crypto、美股、CFD，全球先机一站布局 Quoted @EmberCN: Arthur Hayes 看跌后市，减仓价值 $2608 万的多种代币。看他推文的意思是先卖掉，等跌到位了再去抄底。卖出包括： 8,000 $ETH ($1900 万)； 1400 万 $ENA ($276 万)； 32.3 万 $UNI ($224 万)； 189 万 $ETHFI ($123 万)； 54.7 万 $AERO ($40 万)； 12 万 $PENDLE ($24 万)； 300 万 $ZAMA ($21 万)。地址： arkm.com/explorer/addre… arkm.com/explorer/addre… -------------------------------------------------------------------------- #Bitget 来了就是VIP！Crypto、美股、CFD，全球先机一站布局

72/100·B+Short+4

news10/24news

“It is not critical to be first to market.

The most important thing you can do is be best to market.”

Aero is now live across 7 chains on Ethereum. https://t.co/LX5EpgwJBH

35/100·CLong

news10/24news

Closing in on 72 hours from @aeroxyz launch.

Aero’s share of global DEX volumes has already increased ~15% — its share of @RobinhoodCrypto has doubled almost every day since launch.

Massively exceeding our expectations for the migration week and limited launch. 🛫 https://t.co/WxQC34Oakg

72/100·B+Long

meme10/24meme

@coinbureau His entry is probably way below most of the people copying this sell. Know your own levels first. Reply to @coinbureau: 🚨MASSIVE: Arthur Hayes says “I DUMPED IT ALL” as Maelstrom liquidates roughly $22.3MILLION in altcoin positions. The fund reportedly sold - 6,400 ETH ($15.2M), - 14M ENA ($2.76M), - 323,000 UNI ($2.24M), - and additional positions in ETHFI, AERO, PENDLE and ZAMA. The move comes just nine days after Hayes shared bullish views on Bitcoin and Ether. He now cites growing macro and geopolitical uncertainty, warning that markets could drop further before rebounding.

72/100·B+Short+5

meme10/23meme

Aerodrome and Velodrome (@VelodromeFi) have merged to launch Aero (@aeroxyz) $AERO, a DEX spanning seven blockchain networks. Here’s what changes 👇 https://t.co/0N9xHPyvN0 Retweeted by @VelodromeFi from @BSCNews

78/100·ALong

news10/23news

Aero is live on OP Mainnet, another step forward for liquidity across the OP Stack. Access to liquidity is just as essential as reliable infrastructure for onchain builders. @aeroxyz delivers that in a few ways: ➡️ Metaswaps make it easier for applications to reach users and liquidity across supported chains, without needing to manually bridge. ➡️ Predictive Allocation directs incentives to new pools ahead of demand. ➡️ Slipstream V3 introduces dynamic fees and MEV capture to concentrated liquidity pools, helping improve trading conditions for users and liquidity providers. For builders on the OP Stack, this means easier access to liquidity, more ways to attract capital, and fewer barriers to reaching users across chains.

62/100·B+Long

news10/22news

Aerodrome Q3 Token Holder Report Executive Summary Aerodrome's total revenue (staked trading fees plus voter incentives) grew 40% quarter over quarter in Q3 2026 to ~$21.3M, with staked trading fees alone up 37%. Gross trading fees rose 12%, so most of the gain in staked fees came from conversion, with fee capture rising to ~67% of gross fees from ~54%. Fees built through the quarter, and each of the five epochs from late August earned more in fees than any epoch in Q2. Coinbase Tokenized Stocks went live on Base in late August with day-one liquidity on Aerodrome, which handled ~$1.5B of tokenized-equity volume across ~2.1M trades through quarter-end, ~91% of all tokenized-equity DEX volume on Base. Uniswap carried most of the remainder. Aerodrome's weekly share climbed from 72% in launch week to 98% by late September, with trades averaging ~$700 and liquidity providers' fees of ~5 basis points. Spot volume was ~$40B, down 10% from Q2, in a Base DEX market that ran ~18% below Q2 on a daily basis. Excluding a surge of meme-pool activity that entered the data from late July, volume was ~$36B and Aerodrome's share of Base DEX volume rose to ~66%, from ~63% in Q2 and ~46% in Q1. BTC-USD pairs set a five-quarter high at ~74% of Base volume. ETH-USD share slid to ~40% from ~49% and onchain FX share eased to ~40%, so the gains were concentrated in BTC pairs and equities. Total value locked rose ~31% to ~$316M. AERO emissions rose 3% while their USD cost rose 28% to ~$28.0M, more than twice the 12% rise in gross fees. Recorded net income was a loss of ~$6.7M, level with a ~$6.6M loss in Q2. That figure includes a single ~$4.2M incentive paid in LAPTOP tokens. Excluding it, the loss was ~$10.9M. Q3 was the final quarter before Aerodrome and Velodrome merged into Aero. The unified protocol completed its audits and a public audit contest during the quarter and launched in late October across seven chains, so every Q3 result reflects the old weekly-epoch system. Core Quarter Takeaways Revenue recovered on better conversion. Protocol revenue rose 37% on gross fees up 12%, lifting fee capture to ~67%. It is still ~62% below Q3 2025. Tokenized equities became a second liquidity market. Aerodrome took ~91% of Base tokenized-equity DEX volume from launch, and 98% by late September. Share consolidated in BTC pairs and equities. Adjusted Base share rose to ~66% and BTC-USD reached ~74%, while ETH-USD and onchain FX gave ground. Emissions cost more in dollars. A 3% rise in AERO emissions became a 28% rise in USD cost, widening the underlying deficit. Management Commentary Q3 was the last full quarter of the weekly-epoch system Aerodrome inherited from its predecessor, Velodrome, initially launched in 2022. It demonstrated the MetaDEX model’s ability to win established liquidity markets and help create new ones, while also showing why the next phase of our economic model matters. Tokenized equities this quarter offered the clearest example of what Aerodrome was built to do. When Coinbase Tokenized Stocks launched in August, Aerodrome provided liquidity from day one. The protocol’s weekly share of Base tokenized-equity DEX volume rose from 72% in the first week to 98% by late September, with meaningful trading even on weekends, when traditional equity markets were closed. Meanwhile, Aerodrome’s overall share of Base DEX volume rose despite a quieter quarter for trading across Base. There is an important economic principle behind these results. Liquidity providers (LPs) must commit capital and bear risk before a market can attract meaningful trading. Fees alone may not compensate them for doing so, especially in new markets. Aerodrome addresses this by rewarding LPs with AERO, which can be staked and used to earn a share of exchange revenue. In effect, Aerodrome employs its future earning potential to attract liquidity today. That investment can become increasingly valuable as a market develops. Deeper liquidity attracts trading, which generates fees and improves the economics of providing liquidity. Over time, these advantages can reinforce one another, making an established market harder for competitors to displace. But issuance comes at the cost of dilution. In Q3, AERO emissions were worth $28.0M against $21.35M of revenue to voters, a ratio of 1.31x. The quantity of AERO issued rose just 3%, whereas its dollar cost rose 28% as AERO's market price increased. The legacy Aerodrome system set its overall emissions rate without reference to revenue, so the cost of rewards could rise without a corresponding increase in market productivity. This inability to control the value of issuance has occasionally led to slack in the system, where more spend is not needed and thus may not necessarily result in more revenue. The new Aero is designed to make those investments more disciplined. Predictive Allocation allows sAERO holders to direct rewards toward markets where they anticipate demand, while Gauge Caps provide a means of limiting rewards relative to projected Pool Revenue. Our long-term target is AERO Rewards worth approximately 1.2 times Pool Revenue across the exchange, with flexibility to invest more aggressively in individual markets where the opportunity warrants it. We intend to pay what it takes to win valuable markets without unnecessary issuance elsewhere. The larger opportunity is on the revenue side. Aero is designed to extend our reach across seven chains and into new financial markets, while Smart Fees can capture more of the value generated by trading. Over time, services built around our liquidity network can generate revenue without requiring corresponding additional LP rewards. Together with buybacks and burns, this creates a path toward growing revenue faster than token supply, even as we continue investing in category leadership. Our focus in the coming quarters is quality growth: winning more valuable markets, earning more from the liquidity we attract, and translating that growth into stronger token economics. Although new deployment of AERO will change the reporting base, we will judge success by the productivity of AERO spend and, ultimately, whether the markets we bill increase revenue per outstanding AERO. Financials Quarterly Income Statement (Q3 '25 to Q3 '26) Revenue is the value routed to veAERO holders, made up of Slipstream and V1 trading fees paid to voters plus voting incentives (bribes), with incentives valued at the price on the day they became claimable. Emissions are the USD value of AERO issued to sustain that activity, and net income is voter revenue less emissions. Revenue, emissions and net income are measured over the quarter's thirteen weekly epochs (July 2 to September 30), the cadence at which Aerodrome settles fees and emissions. Revenue Performance Protocol revenue was $14.97M in Q3, up 37% from $10.91M in Q2 and 3% above Q1's $14.52M. Against Q3 2025's $39.28M, the quarter was 62% lower. Gross trading fees rose 12%, to $22.49M from $20.10M, so most of the revenue gain came from a larger share of fees reaching voters. Fee capture, measured as trading fees paid to voters with incentives excluded, rose to 66.6% from 54.3%. The Q2 report quoted a bribe-inclusive rate of 76.0%, which counts incentives as well as fees. Emissions Burden and Net Income AERO emissions rose 3% to 53.36M tokens in Q3 while their USD cost rose 28% to $28.01M. Voter revenue, which adds incentives to trading fees, was $21.35M. That total includes a single $4.2M incentive paid in the LAPTOP token and deposited in the epoch of September 3, far above the incentives recorded in any other Q3 epoch. As recorded, net income was -$6.66M against -$6.63M in Q2, a net margin of −31% of voter revenue against −44%. Without the LAPTOP entry, net income was -$10.86M, a margin of −63%. On trading fees alone, which the LAPTOP entry does not touch, emissions eased to 1.87 times protocol revenue from 2.00 times in Q2. Buybacks and Value Return Aerodrome's buyback programs acquired and locked 7.19M AERO in Q3, worth $3.49M, a 22% decline from 9.17M AERO worth $3.64M in Q2. The Public Goods Fund was the largest buyer at 2.77M AERO, followed by veAERO Maxi at 1.99M and claimed voting rewards at 1.76M. The programs lock the AERO they buy, which removes it from circulating supply but leaves it in total supply. Burning, which destroys tokens and permanently shrinks total supply, became possible when Aero launched on October 21. The Public Goods Fund became the Momentum Fund at launch, with a mandate to buy back both liquid and locked AERO and burn it. Epoch Detail Protocol revenue averaged $1.15M per weekly epoch in Q3, against $0.84M in Q2. The five July epochs earned between $0.88M and $1.00M each. Revenue dipped to about $0.74M per epoch in the first half of August, then stepped up from the epoch beginning August 27. The five epochs from that point earned between $1.16M and $1.81M each. Gross fees swung more from week to week, between $0.91M and $2.79M per epoch, while emissions held in a narrow band of 4.05M to 4.16M AERO per epoch. The quarter's last two epochs, at $1.59M and $1.79M, set the revenue run-rate that Aero inherited when it took over reward allocation. Revenue Drivers Revenue by Product Line Slipstream, Aerodrome's concentrated-liquidity product, earned 89.6% of protocol revenue over all thirteen epochs of Q3, up from 86.3% in Q2, and carried 97.9% of spot volume. V1 pools contributed $1.55M of protocol revenue over those epochs, against $1.49M in Q2. BTC and other non-Base majors were 42.0% of spot volume, against 48.4% in Q2, and ETH-stablecoin trading fell to 23.0% from 32.8%, the largest decline in the mix. Tokenized assets, which were 0.1% of volume in Q2, reached 3.8% in the first quarter of Coinbase stock trading. Meme-token volume rose to a reported 15.6% of volume, mostly from pools that carry no gauge and earn no voter revenue (see the methodology note under Protocol Analysis). In Q3, project tokens earned 35.3% of protocol revenue, the largest share of any category, from less than a tenth of spot volume. BTC and other non-Base majors earned 26.3% of revenue against more than 40% of volume, and ETH-stablecoin pairs earned 19.4%. Memes held 12.6% of revenue against 12.9% in Q2, so the surge in meme volume added little voter revenue. Tokenized assets earned 3.0% for the quarter and about a tenth of protocol revenue in the epoch of September 17. Fee Capture Quality The fee base grew and more of it reached voters. Gross fees rose 12% quarter over quarter while protocol revenue rose 37%, which moved fee capture back toward the Q1 level. Liquidity providers in Aerodrome's tokenized-equity pools earned $753K in trading fees from launch through September 30. Providers in those pools choose between AERO emissions and the pool's trading fees, as in any other Aerodrome pool, so the fee line reflects the providers who opted for fees. Tokenized assets earned $435K of protocol revenue in Q3, nearly all of it after the equities launch. Incentive-Market Read Incentives were thin. Outside the LAPTOP entry, voting incentives totaled about $2.2M in Q3 against $4.3M in Q2. Annualized fee yield to veAERO voters averaged 10.9% for the quarter, above its Q2 average, as fee revenue rose faster than the locked base. Voter income rested almost entirely on trading fees. That is the relationship Predictive Allocation is built to price directly, by rewarding voters who direct emissions toward pools that go on to generate fees. Revenue Driver Conclusion Q3 revenue grew 37% on gross fees up 12%, mostly because a higher share of fees reached voters. The gain ran through Slipstream and was concentrated in the last weeks of the quarter, when tokenized equities added a new source of trading fees from late August. Protocol Analysis Competitive Position on Base Aerodrome carried 65.8% of Base DEX spot volume in Q3 on an adjusted basis, up from 63.4% in Q2 and 45.8% in Q1. Reported volume was $40.41B, or $35.58B after the meme-pool volume adjustment. Base DEX volume as a whole ran about 18% below Q2 on a daily basis, so Aerodrome held and extended its share in a quieter market. Methodology note. From July 30, meme-category volume in Aerodrome pools rose from a baseline of about $18M per day to several times that level. The increase came from pools without gauges, which the Aerodrome interface filters out and which earn no voter revenue. The adjusted figures remove meme volume above the pre-July 30 baseline, $4.8B for the quarter, from both Aerodrome's volume and Base's total. A separate cross-venue volume series, which applies its own filtering, puts Aerodrome's Q3 volume at $34.37B, close to the adjusted figure. Base totals are also drawn from a different source than the one used in Q2, and Q1 and Q2 shares are restated on the same basis. Pool-Level Share By trading pair, share gains were clearest in BTC-USD pairs. In BTC-USD, Aerodrome carried 73.8% of Base volume, a five-quarter high and up from 50.9% in Q1. In BTC-ETH it carried 58.4%, below Q2's 65.8% but well above Q1's 48.3%. ETH-USD was weaker as share slid through the quarter to 39.9%, from 48.8% in Q2, and in September Uniswap's ETH-USD share on Base (37.0%) edged above Aerodrome's (35.7%). Onchain FX share across all chains eased to 39.8% from 47.9%, with Uniswap at 35.6%. Tokenized Equities Coinbase Tokenized Stocks are issued by Coinbase, backed one-to-one by shares held in regulated custody, and available to eligible users outside the United States. Aerodrome hosted their day-one liquidity. Before the launch, from July 1 to August 23, Aerodrome had carried $25.2M of Base tokenized-equity volume against $48.4M on Uniswap. From August 24 through September 30 it handled 91.4% of Base tokenized-equity DEX volume, and its weekly share rose from 72% to 98%. Listings grew in batches, from 4 tickers at launch to 39 by September 30; the September 25 batch added names including Palantir, Netflix and GameStop. Liquidity providers' fees on Aerodrome equity pools averaged about 5 basis points of volume, against about 37 basis points on Uniswap's equity pools. Average trade size was $714, against $122 on Uniswap. Stock-side liquidity across 39 tickers reached $8.79M by September 30, led by AMZNc at $1.27M, GOOGLc at $1.12M and NVDAc at $1.08M, and daily equity volume averaged 8.3 times that depth (9.7 times on weekdays). In a September 23 premarket test of $100,000 sell orders across ten stock tokens, estimated proceeds were 0.06% to 0.71% below the reference valuation, and 0.01% to 0.12% at $10,000. The team reported that its stock pools averaged 0.39% from Friday's close through the weekend and matched Monday's open within 0.35%. The product is used around the clock. Weekend equity volume averaged $19.4M per day, about 41% of the weekday average of $46.9M. Liminal's stock cashback product runs on Aerodrome liquidity, Superform began routing tokenized-stock trades through Aerodrome on September 1, and Bankr launched agent-managed liquidity provision for the stock pools on August 28. On September 22, Aerodrome added two weeks of USDC rewards for new equity liquidity across ten pools through Revert Finance. Liquidity Total value locked reached $315.6M at the end of September, up 31.2% from $240.5M at the end of June. Stablecoins made up $101.9M, ETH $77.2M and BTC $39.8M. AERO/USDC was the largest pool at $36.5M in the quarter's final epoch, and a Slipstream WETH/cbBTC pool with $10.0M of liquidity traded about 26 times that amount during the week. Daily active traders averaged 14,102, level with Q2, while the share of returning traders fell to 75.4% from 82.8% as new users arrived. veAERO and Governance Locked AERO rose to a record 1.05B, and unique holders reached 48,291, up from 47,055 at the end of Q2. Permanent veNFTs held 40.4% of locked AERO. Of 1.05B AERO locked, 95% is in permanent locks (relays and permanent veNFTs) at the four-year maximum. Among the 5% in decaying locks, the AERO-weighted remaining term fell to 881 days from 985, in line with the calendar. The simple average across veNFTs fell further, to 694 from 867, because about 6,000 small short-dated locks were created in July. The top-10 holder share of effective voting power was 65.6%, virtually unchanged from 64.9% at the end of Q2. Ignition Ignition was quiet in Q3. The launch platform carried $36.3M of volume across eight existing tokens, with no new launches during the quarter. Product Updates The Aero Transition Aero, the unified liquidity layer formed by merging Aerodrome and Velodrome, launched on October 21, 2026, at 8:00 PM EDT. It had previously been targeted for July and then September. Launch chains were Base, Ethereum Mainnet, OP Mainnet, Arc, Ink, Robinhood Chain and Arbitrum, with the last two added in the September 25 update. Ahead of the merge, Velodrome told VELO holders on its other chains to bridge back to OP Mainnet. Aero's audit ran across three teams, and as of mid-July none had found a critical or high-severity vulnerability. Its core contracts were published in batches from mid-August, and the full launch codebase was released on August 30. A Sherlock-run public audit contest opened the next day, with $100,000 in guaranteed rewards and up to $400,000 for critical findings, and closed on September 21. The team reported no major roadblocks at initial triage, with final fixes being merged ahead of launch. Under Aero, sAERO holders direct rewards through Predictive Allocation and earn a share of exchange revenue, new AERO is minted only when liquidity providers redeem their rewards, the AER Engine caps per-pool reward rates to track projected revenue, and Metaswaps route trades across supported chains. Expansion Surfaces Aero Lite, a lightweight deployment of Slipstream pools, went live on Arc on September 16 with day-one pools, fee rewards for liquidity providers and a first look at the new Aero interface. It upgraded to the full protocol when Aero launched. Coinbase Tokenized Stocks added a new asset class on Base from August 24, with liquidity providers able to choose between AERO rewards and pool trading fees. Value Distribution and Governance Programs Buybacks ran through the Public Goods Fund and related programs all quarter. The fund bought AERO, locked it and voted with it for key ecosystem pairs. At Aero's launch it became the Momentum Fund, which can also burn the AERO it buys, permanently reducing total supply. Product Read-Through Tokenized equities went live on Base and Aero Lite on Arc during the quarter. The rest of the redesign, including Predictive Allocation, the AER Engine and Metaswaps, arrived with Aero on October 21. Closing Summary Aerodrome closes Q3 2026 with revenue recovering and a new market established. Protocol revenue rose 37% on gross fees up 12%, fee capture recovered to 66.6%, and tokenized equities grew from launch on August 24 to 98% of weekly Base volume by late September. Since launching in August 2023, Aerodrome has processed over $430B in cumulative trading volume. The equities launch gave Aerodrome a measurable second market within five weeks. Stock-side liquidity grew to $8.79M across 39 tickers and turned over 8.3 times a day on average, providers' fees ran near 5 basis points, and weekend trading averaged about 41% of weekday volume. Pool depth will set how far the product can grow. In the September 23 test, a $100,000 order moved proceeds by up to 0.71%, so deeper stock pools are what will carry larger trades. Results against the four measures set out at the end of Q2 were mixed. Base share held and extended to 65.8% on an adjusted basis, with BTC pairs at a five-quarter high and ETH-USD and FX giving ground. Fee capture improved. Emissions held steady in AERO but rose 28% in USD cost, and underlying net income widened once the single LAPTOP incentive is set aside, even as fee yield to voters edged up to 10.9% and the locked base reached a record 1.05B AERO. Predictive Allocation and the AER Engine are designed to tie reward rates to projected revenue, which is intended to narrow the gap between emissions cost and fee revenue that persisted through Q3. Aero launched on October 21 with its audits and public contest complete, on a revenue base that recovered in the final weeks of the old system. Q4 will answer whether revenue holds its late-quarter level under the new reward system, whether the USD cost of emissions moves closer to fee revenue, and whether ETH-USD share recovers alongside the gains in BTC pairs and equities.

10/100·CNeutral+38

meme10/22meme

A whale bought ~$7.22M worth of tokens over the past 24 hours, including: 378,129 $LIT ($1.4M) 6.61M $ENA ($1.34M) 3M $ONDO ($1.34M) 1.154M $AERO ($948K) 241.8 $ETH ($591K) 2,944 $QNT ($589K) 61,252 $UNI ($443K) 1,387 $TAO ($368K) 43.3B $PEPE ($195K) https://arkm.com/explorer/address/0x0DfB577e48382B12a01a4105e28F9B4c0d4aECbf

35/100·CLong+8

meme10/21meme

@VelodromeFi retweet (Wed Oct 21 22:03:03 +0000 2026): Original @aeroxyz (Wed Oct 21 21:15:42 +0000 2026): Aero launches today 🛫 New article is now live on the site, providing a full overview of how Aero is built to power the new era of onchain value exchange. Read on: https://aero.xyz/articles/aero-launches-today/

72/100·B+Long

meme10/21meme

@VelodromeFi retweet (Wed Oct 21 03:20:58 +0000 2026): Original @JoshwaaaDixon quote (Tue Oct 20 10:30:35 +0000 2026): Aero launches tomorrow as Ethereum’s unified liquidity layer. Two of the most successful liquidity protocols are merging into one. This should meaningfully improve fragmentation across L2s and L1 — a concrete step toward a more unified Ethereum. Very bullish on $AERO and $ETH. I am ready. Original: unavailable

72/100·B+Long

meme10/20meme

quote: We designed more intelligence into our latest AMM. Smart Fees now price each swap for the conditions it happens in. Fees go up when markets move fast or swaps bid for MEV -- and down in calm markets, or for retail flow. So the same volume earns more for LPs and sAERO alike. 🛫 | Slipstream V3, the concentrated liquidity AMM built for everyone. Protocol-level MEV capture, dynamic fees built to outcompete, programmable fee rebates, and more. Going live tomorrow with Aero 🛫

72/100·B+Long

AERO

ICYMI, in less than a week into launch @aeroxyz flipped 50% volume share on another chain in @arc.It also took 11.6% of @RobinhoodCrypto, 3.1% of @arbitrum, and 2.6% of @ethereum... in mere days.This was supposed to just be the migration week. Deliriously excited. https://t.co/UvdNFT5plp

Arthur Hayes(@CryptoHayes) dumped another 14M $ENA ($2.73M) 2 hours ago. Over the past 24 hours, he has sold $28.8M worth of tokens, making $6.65M in profit. Most of his profits came from $ETH and $ENA, while he roughly broke even on $UNI, $ETHFI, $AERO, $PENDLE, and $ZAMA. https://t.co/e5OXplCGED

“It is not critical to be first to market.The most important thing you can do is be best to market.”Aero is now live across 7 chains on Ethereum. https://t.co/LX5EpgwJBH

Closing in on 72 hours from @aeroxyz launch. Aero’s share of global DEX volumes has already increased ~15% — its share of @RobinhoodCrypto has doubled almost every day since launch. Massively exceeding our expectations for the migration week and limited launch. 🛫 https://t.co/WxQC34Oakg

Aerodrome and Velodrome (@VelodromeFi) have merged to launch Aero (@aeroxyz) $AERO, a DEX spanning seven blockchain networks. Here’s what changes 👇 https://t.co/0N9xHPyvN0 Retweeted by @VelodromeFi from @BSCNews

ICYMI, in less than a week into launch @aeroxyz flipped 50% volume share on another chain in @arc.

It also took 11.6% of @RobinhoodCrypto, 3.1% of @arbitrum, and 2.6% of @ethereum... in mere days.

This was supposed to just be the migration week.

Deliriously excited. https://t.co/UvdNFT5plp

“It is not critical to be first to market.

The most important thing you can do is be best to market.”

Aero is now live across 7 chains on Ethereum. https://t.co/LX5EpgwJBH

Closing in on 72 hours from @aeroxyz launch.

Aero’s share of global DEX volumes has already increased ~15% — its share of @RobinhoodCrypto has doubled almost every day since launch.

Massively exceeding our expectations for the migration week and limited launch. 🛫 https://t.co/WxQC34Oakg