24h Change-4.07%
All Time HighDec 7, 2024$2.32
All Time LowOct 17, 2023< $0.0001
Market Cap$343.25m
Fully Diluted Valuation$692.47m
Circ. Supply947.97m AERO
Outstanding FDV$529.84m
CEX Volume$9.17m
DEX Volume$16.7m
Aerodrome V1 · Base$97.42m
Aerodrome Slipstream · Base$15.91m
Uniswap V3 · Base$4.93m
PancakeSwap AMM V3 · Base$853,982
Balancer V3 · Base$40,714
| Q2 2026* | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Gross Protocol Revenue | $17.93M | $20.50M | $37.07M | $47.90M | $36.68M | $62.72M | $69.20M | $20.73M | $25.90M | $7.94M | $893.76K | $571.28K |
Cost of Revenue | $9.84M | $6.01M | $8.03M | $6.77M | $6.37M | $8.69M | $2.76M | $423.93K | $260.87K | $0 | $0 | $0 |
Gross Profit | $8.08M | $14.48M | $29.04M | $41.12M | $30.30M | $54.03M | $66.43M | $20.30M | $25.64M | $7.94M | $893.76K | $571.28K |
Incentives | $16.08M | $19.99M | $40.17M | $71.26M | $53.24M | $96.87M | $173.30M | $95.89M | $188.10M | $60.84M | $6.39M | $954.70K |
| LP Gauge Rewards | $16.08M | $19.99M | $40.17M | $71.26M | $53.24M | $96.87M | $173.30M | $95.89M | $188.10M | $60.84M | $6.39M | $954.70K |
Earnings | -$8M | -$5.50M | -$11.13M | -$30.14M | -$22.93M | -$42.84M | -$106.86M | -$75.58M | -$162.45M | -$52.90M | -$5.50M | -$383.42K |
Token Holder Net Income | $8.08M | $14.48M | $29.04M | $41.12M | $30.30M | $54.03M | $66.43M | $20.30M | $25.64M | $7.94M | $893.76K | $571.28K |
Others Token Holder Flows | $1.82M | $3.87M | $4.37M | $22.66M | $5.51M | $10.29M | $36.78M | $31.83M | $45.68M | $9.42M | $1.79M | $1.17M |
| Bribes Revenue | $1.82M | $3.87M | $4.37M | $22.66M | $5.51M | $10.29M | $36.78M | $31.83M | $45.68M | $9.42M | $1.79M | $1.17M |
How much debt can be issued against AERO as collateral across lending protocols.
Maximum possible exposure to AERO
$229,056
$51,194 (max additional borrows against AERO) + $177,861 (bad debt if AERO was hacked now)
Euler V2
$142,477 at-risk exposure = $103,832 bad debt if hacked + $38,645 additional borrowable against AERO
Morpho V1
$86,578 at-risk exposure = $74,029 bad debt if hacked + $12,549 additional borrowable against AERO
Showing collateral exposure for AERO on Base. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
Each row is one protocol-chain exposure for AERO as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
AERO0x940181a94a35a4569e4529a3cdfb74e38fd98631 | $38,645 | $103,832 | ||
AERO0x940181a94a35a4569e4529a3cdfb74e38fd98631 | $12,549 | $74,029 |
Risk-management actions published about AERO by tracked risk managers and governance contributors, newest first.
Borrow incentives on Base AERO are causing negative APYs for borrowers. Eliminating them restores positive borrow APYs to support proper interest rate discovery and curb excessive borrowing.
The Base AERO market has lower-than-optimal utilization while over-incentivizing supply, leading Gauntlet to recommend cuts to both borrow and supply incentives to push utilization toward the kink and reduce overall COMP spend.
The Base AERO Comet had borrows decrease 2.91% to $2.74M and supply fall 3.98% to $4.23M, slightly increasing utilization to 64.76% while reserves grew negligibly.
Utilization on Base AERO remains structurally below the kink despite IR curve updates and elevated incentives, showing insufficient borrow demand and inefficient capital allocation. Borrowers are not responding to subsidized rates due to limited opportunities for AERO, while high supply rewards are unjustified by utilization or deposit volatility.
On Base, AERO borrows fell 8.70% to $1.99M alongside 14.80% supply drop to $5.42M, increasing utilization to 36.67% but with average reserve growth of -23.95%, leading to net protocol loss of -7.92K COMP equivalent.
The AERO market on Base v3 shows persistently low utilization, resulting in limited reserve accumulation for the protocol. Lowering borrow base rates and slopes is intended to reduce borrowing costs, encouraging more supply and borrow activity to achieve healthier utilization above 55%.
The AERO market on Base shows strong unrealized growth potential with targeted communities to serve; the team will execute strategies to heal and boost utilization toward 90% for better revenue and depositor yields.
AERO's high volatility exceeds WETH's, and over 10 million tokens emitted per epoch with declining veAERO lock rates could reduce swap liquidity and raise liquidation slippage. High liquidation penalties and a 10% buffer between factors provide mitigation for the new Base Comet market.
AERO is the governance and utility token of Aerodrome Finance, enabling holders to lock tokens as veAERO for voting on liquidity emissions, earning boosted rewards up to 2.5x through onchain vesting & allocations
veAERO holders direct gauge weights and liquidity incentives. Governance does not extend to protocol upgrades or core parameter changes, contracts are largely immutable.
veAERO holders vote on gauge weights to direct AERO emissions across liquidity pools each epoch.
Aerodrome has no treasury. All trading fees are programmatically distributed.
Protocol fees are directed by gauge voting. veAERO holders receive trading fees from the pools they vote for.
Protocol fees are issued to veAERO holders, and programmatic buybacks are implemented
Value accrues through direct fee distribution plus programmatic AERO buybacks.
100% of revenue flows to token operators. There are no team or investor unlocks.
Fees & protocol emissions are issued to veAERO holders, AERO is programmatically bought back and max locked
AERO is programmatically bought back and max locked using protocol revenue. Buybacks are automated, not discretionary.
veAERO holders receive trading fees from staked LP positions in pools they voted for, plus emissions rewards proportional to their veAERO balance.
No burn mechanism is currently active
An is required to view token usage.
An is required to view token unlocks.
Showing 10 of 43 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabFBOMB-AERO | $1.16m | 41.63% | 36.28% | ||||||
| open in new tabUSDC-AEROCL2000 - 1% | $1.13m | 257% | 11.15% | 79.65% | |||||
| open in new tabAERO-CBBTCCL200 - 0.075% | $663,883 | 135% | 123% | 112% | |||||
| open in new tabWETH-AERO0.05% | $182,751 | 57.30% | 57.30% | 50.16% | |||||
| open in new tabAERO-WSTETHCL200 - 1% | $171,029 | 36.31% | 2.12% | 71.66% | |||||
| open in new tabAERO-TAROT | $138,042 | 24.43% | 22.19% | ||||||
| open in new tabTKN-AERO | $57,220 | 29.22% | 31.58% | ||||||
| open in new tabAERO-AUKI | $14,601 | 21.78% | 12.90% | ||||||
| open in new tabAERO-WETHAerodrome | $12,159 | 1468% | 171% | ||||||
| open in new tabUSDC-AERO | $10,758 | 2214% | 2313% |
Showing 10 of 50 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabAERO âžž MORPHO | $10.34m | 3.38% | 3.15% | 65% | $6.73m | $1.99m | |||
| open in new tabAERO âžž MORPHO | $10.34m | 1.90% | 0% | 3.15% | 60.5% | $13,604 | $1 | ||
| open in new tabAERO âžž LBTC | $3.34m | 1.93% | 0.91% | 65% | $6.73m | $1.99m | |||
| open in new tabAERO âžž VVV | $1.68m | 1.33% | < 0.0001% | 65% | $6.73m | $1.99m | |||
| open in new tabAERO âžž WELL | $545,831 | 1.86% | 0.80% | 65% | $6.73m | $1.99m | |||
| open in new tabAERO âžž SUSDS | $64,635 | 1.33% | 0% | 65% | $6.73m | $1.99m | |||
| open in new tabAERO âžž WEETH | $57,754 | 1.30% | -0.05% | 65% | $6.73m | $1.99m | |||
| open in new tabAERO âžž TBTC | $47,508 | 1.62% | 0.44% | 65% | $6.73m | $1.99m | |||
| open in new tabAERO âžž WSTETH | $45,220 | 1.33% | -0.01% | 65% | $6.73m | $1.99m | |||
| open in new tabAERO âžž CBETH | $16,857 | 1.33% | 0% | 65% | $6.73m | $1.99m |
