Aero has published the terms and timeline for merging Aerodrome and Velodrome, with the swap process slated to begin at 8:00 PM Eastern Time on October 21. At launch, emissions from the legacy platforms end; existing AERO will convert 1:1 into the new AERO, and each VELO will swap for roughly 0.044 AERO, applying the same ratio to both circulating and locked tokens.

ChainCatcher notes that the VELO conversion ratio will depend on the supply available at launch, while Aerodrome holders will receive 94.5% of the new token supply and Velodrome holders 5.5%. DeFiLlama’s data shows the two platforms combined had about $422 million in total value locked as of October 9.

The merger was first announced in November 2025, with Dromos Labs originally targeting completion in the second quarter of 2026. The new model moves away from a weekly voting cycle toward real-time allocation, and sAERO holders will be able to direct rewards to liquidity pools and earn from exchange revenue, subject to a 47-hour cooldown at the start of allocation changes.

Existing veAERO and veVELO positions will convert into new sAERO positions, with any remaining lock time carried over and rounded up to the nearest week. Permanent locks will become the longest-duration stake within the system.

Tokens will not convert automatically. Holders in self-custody must use the upgrade portals on aerodrome.finance or velodrome.finance after claiming rewards, rebasing, and clearing active votes.