Aerodrome Finance – Login, Setup & Complete Guide

Introduction

Aerodrome Finance is the flagship decentralized exchange (DEX) and liquidity hub of the Base ecosystem—the Ethereum Layer 2 network incubated by Coinbase . Since its launch in August 2023, Aerodrome has grown to become the dominant DEX on Base, controlling over 40% of the network's liquidity and surpassing 1.29billioninTotalValueLocked(TVL)∗∗,withover∗∗1.29billioninTotalValueLocked(TVL)∗∗,withover∗∗25 billion in annualized trading volume and 180,000+ monthly active users .

Aerodrome is a "meta-DEX" that combines the best features from multiple protocols:

• Uniswap V2's standard AMM model for volatile pairs

• Curve's StableSwap for stablecoin trading

• Uniswap V3's concentrated liquidity for capital efficiency 

• Convex-style performance mining incentives

What truly makes Aerodrome unique, however, is its ve(3,3) governance model—a flywheel mechanism where 100% of protocol trading fees are redistributed to users who lock their AERO tokens and vote on liquidity emissions . This model has created a self-sustaining liquidity ecosystem that has rapidly become the backbone of DeFi on Base.

Important: Aerodrome is a non-custodial DEX—there is no traditional "login" with a username and password. You access the platform by connecting a self-custodial wallet like MetaMask, Rabby, or Coinbase Wallet. Your security is your responsibility.

Recent Update: The Aero Merger

In November 2025, Aerodrome and Velodrome Finance (Optimism's leading DEX) announced a major merger under Dromos Labs to form a unified cross-chain DEX called Aero .

Key details of the merger:

• Existing Aerodrome (AERO) holders will receive 94.5% of the new token supply

• Existing Velodrome (VELO) holders will receive 5.5% of the new token supply

• The disparity reflects Aerodrome's significantly larger TVL: 479M∗∗vs.Velodrome′s∗∗479M∗∗vs.Velodrome′s∗∗55M 

• The merged platform will initially operate across Base, Optimism, and the OP Superchain, before expanding to Ethereum mainnet

• The upgrade introduces "Slipstream V2" —a concentrated liquidity model similar to Uniswap V3 to reduce slippage and enhance capital efficiency 

Note: At the time of writing, the merger is progressing. Users should continue using the official Aerodrome interface (aerodrome.finance) for all operations. The underlying mechanics described below remain relevant as they form the foundation of the merged protocol.

How to "Log In" to Aerodrome (Connect Your Wallet)

Aerodrome operates exclusively on the Base network. You do not need to create an account or complete KYC.

Step 1: Set Up Your Wallet for Base

Before connecting, ensure you have:

1. A Web3 wallet installed (MetaMask is the most popular, though Rabby and Coinbase Wallet also work)

2. The Base network added to your wallet (Aerodrome will usually prompt you to add it automatically)

3. ETH in your wallet for gas fees (Base uses ETH for gas)

Step 2: Connect to Aerodrome

Step-by-step connection:

1. Go to the official Aerodrome website: https://aerodrome.finance 

2. Click the "Connect Wallet" button in the top right corner 

3. Select your wallet provider (MetaMask, Coinbase Wallet, WalletConnect, etc.)

4. Approve the connection request in your wallet popup

5. Once connected, your wallet address will appear in the top right corner

Step 3: Verify Your Network

Ensure your wallet is set to the Base network. If not, Aerodrome will prompt you to switch or add the network automatically.

💡 Pro Tip: Base is an Ethereum L2 with significantly lower gas fees than Ethereum mainnet. Keep a small amount of ETH (0.01-0.02) for gas.

Supported wallets: Aerodrome works with MetaMask, Coinbase Wallet, Rabby, and any WalletConnect-compatible wallet .

Swapping Tokens on Aerodrome – Step-by-Step

Once your wallet is connected, swapping tokens is straightforward.

How to Execute a Swap

Step 1: Navigate to Swap
Click "Swap" in the top navigation bar 

Step 2: Select Your Tokens

• Click the first dropdown to select the token you want to sell

• Click the second dropdown to select the token you want to buy

Step 3: Enter the Amount

• Type the amount you want to swap

• Alternatively, use the percentage buttons (25/50/75/100%) for quick selection

Step 4: Approve Token Access

• For your first time swapping a token, click "Approve"

• Confirm the approval transaction in your wallet (this allows Aerodrome to access your tokens)

Step 5: Execute the Swap

• Click "Swap" 

• Review the details in the confirmation popup

• Click "Confirm" and approve the transaction in your wallet

Step 6: Wait for Confirmation

• Once confirmed, your new tokens will appear in your wallet

Troubleshooting: If your swap fails due to slippage, you can manually adjust slippage tolerance in the settings. Some tokens with low liquidity may require higher slippage .

Fees: Trading fees range from 0.01% to 0.05% depending on the pool, with 100% of fees distributed to veAERO voters—not to the protocol treasury .

Liquidity Pools on Aerodrome

Aerodrome offers two types of liquidity pools, mirroring the design of Curve Finance :

Pool TypeDescriptionBest ForFee Structure

Stable PoolsFor assets pegged to the same value (e.g., USDC/USDT/DAI)Low-risk, stable yieldsLower fees (0.01-0.02%)

Volatile PoolsFor assets with different price movements (e.g., ETH/USDC)Higher potential yieldStandard fees (0.03-0.05%)

How Liquidity Provision Works

1. Deposit equal value of both tokens into a pool (e.g., 500USDC+500USDC+500 ETH)

2. You receive LP tokens representing your share of the pool

3. You must stake your LP tokens in the corresponding "Gauge" to earn AERO emissions 

4. The amount of AERO emissions your pool receives is determined by veAERO voter weight 

Adding Liquidity – Step-by-Step

Step 1: Go to "Pool" → "Add Liquidity"

Step 2: Select your trading pair

Step 3: Enter the amount for one token (the second amount auto-calculates)

Step 4: Click "Approve" for both tokens if prompted

Step 5: Click "Add Liquidity" and confirm the transaction

Step 6: After receiving LP tokens, go to the "Farms" or "Gauge" section and stake them to start earning AERO emissions

Note on Impermanent Loss: The value of deposited tokens can change relative to each other, potentially resulting in impermanent loss. Stable pools have minimal impermanent loss risk, while volatile pools carry higher risk .

Understanding AERO and veAERO Tokenomics

Aerodrome uses a dual-token system that creates a self-sustaining liquidity flywheel .

AERO – The Utility Token

FeatureDescription

Token standardERC-20

Primary useRewarding liquidity providers

Can beTraded, swapped, provided as LP, or locked for veAERO

Team/Foundation tokensAll locked—no liquid team tokens 

veAERO – The Governance NFT

FeatureDescription

Token standardERC-721 (NFT)

How to getLock AERO tokens for up to 4 years

What it doesVoting power, 100% fee collection, emissions direction

TransferableYes (can be sold on NFT marketplaces) 

Locking Mechanics

When you lock AERO to receive veAERO, your voting power is determined by lock duration :

Lock DurationveAERO Received (per 100 AERO locked)

4 years (max)100 veAERO (1:1 ratio)

2 years50 veAERO

1 year25 veAERO

1 week (min)~0.48 veAERO (1/208 ratio) 

Formula: veAERO received = AERO locked × (lock duration in years ÷ 4)

Auto-Max Lock Feature

Aerodrome offers an "Auto-Max Lock" mechanism that automatically maintains your veAERO position at the maximum 4-year lock. This ensures your voting power doesn't decay over time .

The ve(3,3) Flywheel – How It Works

Aerodrome's ve(3,3) model creates an incentive loop where all participants benefit from protocol growth .

The Four Participant Roles

RoleActionReward

TraderSwaps tokensExecution at best price

Liquidity ProviderProvides tokens to pools, stakes LP tokensAERO emissions + trading fees

veAERO VoterLocks AERO, votes on gauge emissions100% of trading fees + bribes + rebases

Protocol (Briber)Offers incentives for votesDeeper liquidity for their token

Weekly Epoch Cycle

Every 7 days (known as an epoch), the flywheel operates:

Step 1: Voters Direct Emissions

• veAERO holders vote on which liquidity pools ("gauges") should receive AERO emissions

• Voting power is proportional to veAERO holdings

• Voters can split their votes across multiple pools 

Step 2: Pools Receive Emissions

• Each pool receives AERO emissions proportional to the votes it received

• Liquidity providers with staked LP tokens in these pools earn AERO rewards

Step 3: Voters Collect Rewards

• After the epoch ends, voters claim:

  • 100% of trading fees from pools they voted for 

  • Bribes from protocols (additional tokens offered to attract votes) 

  • Rebases (additional AERO from protocol emissions)

Step 4: Bribes Attract Votes

• Protocols offer bribes (in their own tokens) to attract veAERO votes

• Voters naturally gravitate toward pools with the highest bribe offers

• This creates a market for liquidity where protocols pay for deeper liquidity 

The Flywheel Diagram

text

Traders pay fees for deep liquidity ↓ Fees flow to veAERO voters (100%) ↓ Voters direct emissions to best fee/bribe pools ↓ LPs earn higher rewards + provide liquidity ↓ Deeper liquidity attracts more traders ↓ More volume = more fees ↓ (Cycle repeats and compounds)

Why It's Called ve(3,3)

The name combines:

• ve (vote-escrowed) from Curve's veCRV model

• (3,3) from Olympus DAO's game theory where cooperation yields optimal outcomes for all participants 

Example game theory outcomes for two protocol participants :

ScenarioOutcome

Both lock/boostPositive-sum—both benefit from protocol growth

One sellsSeller gains short-term profit; locker experiences loss

Both sellNegative-sum—protocol value declines rapidly

This model incentivizes long-term participation over short-term speculation .

Revenue Streams for veAERO Holders

veAERO holders earn from three distinct sources:

Revenue SourcePercentageDescription

Trading Fees100% of all feesAll swap fees from pools you voted for flow to you proportionally to your vote weight 

Bribes100% of incentivesProtocols pay tokens to attract votes; distributed to voters 

RebasesProtocol emissionsAdditional AERO emissions distributed to veAERO holders

Real-World Example

If you control 10% of the voting power in a pool that generated $1.5 million in trading fees this week :

• You earn **150,000∗∗(10150,000∗∗(101.5M) from trading fees alone

• Plus your share of any bribes offered for that pool

• Plus rebases

This is why veAERO positions can generate substantial passive income.

Flight School Program

Aerodrome's "Flight School" program rewards veAERO holders with bonus veAERO proportional to their locked positions. For positions in the 100,000-200,000 veAERO range, participants have earned 12,000-30,000+ bonus veAERO per 4-week "flight" .

This creates a compounding effect where:

• Initial veAERO earns bonus veAERO

• Bonus veAERO can be locked (or re-locked) to grow voting power

• Growing voting power = more fees, bribes, and future bonuses

Yield Farming Strategies

Strategy 1: Simple LP Staking (Beginner)

1. Provide liquidity to a stable pool (e.g., USDC/USDT)

2. Stake LP tokens in the corresponding gauge

3. Claim AERO rewards periodically

4. Low risk, steady yield

Strategy 2: Vote-Locked Yield (Intermediate)

1. Earn or buy AERO

2. Lock AERO for veAERO (longer locks = higher yields)

3. Vote weekly on pools with highest bribes/fees

4. Collect fees, bribes, and rebases

5. Compound rewards by locking additional AERO

Estimated yields: Historical yields for max-lock ("Maxi") veAERO holders have been highly competitive, often reaching 50-60%+ annualized .

Strategy 3: Protocol-Owned Liquidity (Advanced)

For protocols wanting deep liquidity for their token:

1. Acquire a veAERO position (e.g., 200,000+ veAERO)

2. Vote consistently to direct emissions to your own liquidity pools

3. Earn Flight School bonuses to grow your position

4. Use emissions to build Protocol Owned Liquidity (POL) 

Troubleshooting Common Issues

Issue 1: Wallet Won't Connect

Solutions:

• Ensure you're on the official URL: https://aerodrome.finance

• Clear browser cache and cookies

• Update your wallet extension to the latest version

• Ensure you're on the Base network (Aerodrome will prompt you to add it)

Issue 2: Transaction Failed

Common causes:

• Insufficient ETH for gas fees (keep at least 0.005-0.01 ETH on Base)

• Slippage too low for volatile tokens

• Network congestion

Solutions:

• Increase slippage tolerance in swap settings 

• Add more ETH to your wallet for gas

• Wait a few minutes and retry

Issue 3: "Insufficient Liquidity" Warning

Solution: Some token pairs have lower liquidity. Try a smaller trade amount or use a different routing path (swap via a more liquid intermediate token like USDC).

Issue 4: LP Tokens Not Earning Rewards

Problem: You deposited liquidity but aren't receiving AERO emissions.

Solution: LP tokens must be staked in the gauge to receive AERO emissions . Simply holding LP tokens in your wallet does not earn emissions.

Issue 5: Front-End/Phishing Concerns

Warning: Aerodrome has experienced DNS compromises and front-end hacking attempts in the past .

To stay safe:

• Always verify you're on aerodrome.finance

• Use bookmarked URLs, not search results

• Consider using decentralized interfaces on IPFS:

  • aero.drome.eth

  • aero.drome.eth.limo

  • aero.drome.eth.link 

Troubleshooting Table – Quick Reference

ProblemLikely CauseSolution

Wallet won't connectExtension or network issueCheck Base network; clear cache

"Insufficient funds"Not enough ETH for gasAdd ETH to wallet

High slippage warningVolatile pair or low liquidityIncrease slippage tolerance

LP tokens not earningNot staked in gaugeStake LP tokens in Farms/Gauge section

Wrong network detectedWallet on wrong chainSwitch to Base network

Pending transactionNetwork congestionWait; increase gas price

veAERO not showingLock not active yetWait for block confirmations

Aerodrome vs. Velodrome vs. Uniswap

FeatureAerodrome (on Base)Velodrome (on Optimism)Uniswap (on Ethereum)

TVL$1.29B+ $55M Varies by chain

Trading fees0.01-0.05%0.02-0.05%0.05-1% (Uniswap V2)

Fee distribution100% to veAERO voters100% to veVELO votersTo LPs

Governance modelve(3,3)ve(3,3)Standard token

Native tokenAEROVELOUNI

Launch dateAugust 2023June 2022November 2018

Following the Aero merger, the two protocols are uniting under a single governance structure and token .

Security Best Practices

Essential Security Measures

• ✅ Always use the official URL: https://aerodrome.finance 

• ✅ Never share your seed phrase – Aerodrome will never ask for it

• ✅ Use a hardware wallet (Ledger) for large holdings

• ✅ Double-check token approvals – Revoke unused approvals periodically

• ✅ Keep ETH for gas fees on Base (0.01-0.02 ETH recommended)

• ✅ Be aware of phishing sites – Aerodrome has faced DNS attacks in the past 

Upgrade Security Note

Aerodrome contracts can be upgraded, but upgrades must be approved by both BaseMultisig1 and OpFoundationOperationsSafe . There is no delay on upgrades, so users should stay updated on security announcements.

What Aerodrome Will NEVER Ask For

• Your private keys or recovery phrase

• Your password (there is none)

• Funds for "wallet verification"

• Your seed phrase via DM or email

⚠️ Security Warning: Be extremely cautious of Discord or Telegram users claiming to be Aerodrome support. There is no "support" that will DM you first. Always use official channels.

Aerodrome Quick Stats

MetricValue

Protocol typeDeFi AMM (DEX) on Base

Launch dateAugust 28, 2023 

Total Value Locked (TVL)$1.29B+ 

Annualized trading volume$25B+ 

Monthly active users180,000+ 

Market share on Base40%+ of network liquidity 

Trading fees0.01%–0.05% per trade

Fee distribution100% to veAERO voters

Lockup max duration4 years

Supported walletsMetaMask, Coinbase Wallet, Rabby, WalletConnect

BlockchainBase (Ethereum L2)

Audit statusMultiple security audits completed

Frequently Asked Questions (FAQ)

Q: Do I need an account to use Aerodrome?

A: No. Aerodrome is a non-custodial DEX. You simply connect your Web3 wallet—no email, no password, no KYC required.

Q: What network does Aerodrome use?

A: Aerodrome is native to the Base network (Coinbase's Ethereum L2). It also has expanding support for Optimism and the OP Superchain following the Aero merger .

Q: What wallets are compatible with Aerodrome?

A: Aerodrome supports MetaMask, Coinbase Wallet, Rabby, and any WalletConnect-compatible wallet .

Q: How do I earn yield on Aerodrome?

A: You can earn through:

• Providing liquidity + staking LP tokens (earn AERO emissions + trading fees)

• Locking AERO for veAERO (earn 100% of trading fees + bribes + rebases)

Q: What is the difference between AERO and veAERO?

A: AERO is the liquid utility token (can be traded, swapped, used as LP). veAERO is an NFT received by locking AERO for up to 4 years—it provides voting power and fee collection rights but is non-transferable (though can be sold as an NFT) .

Q: How much can I earn as a veAERO holder?

A: Returns vary based on voting strategy, pool choices, and bribe markets. Historical yields for max-lock positions have been highly competitive—often 50-60%+ annualized .

Q: Can I sell my veAERO position?

A: Yes. Unlike traditional ve tokens, veAERO is an NFT that can be sold on NFT marketplaces or through specialized platforms like Vexy.fi (often at 10-35% discount to underlying value) .

Q: What is the Aero merger?

A: In November 2025, Aerodrome and Velodrome Finance announced a merger under Dromos Labs to form Aero, a unified cross-chain DEX. Existing Aerodrome holders receive 94.5% of new token supply .

Q: Is Aerodrome safe?

A: Aerodrome has undergone multiple security audits and is considered one of the most secure DEXs on Base. However, DeFi always carries smart contract risk. Users should also be aware of potential front-end phishing attacks and always verify URLs .

Q: What gas fees does Aerodrome have?

A: Aerodrome runs on Base, an Ethereum L2 with significantly lower gas fees than mainnet—typically fractions of a cent per transaction .

Final Reminder

Always use the official Aerodrome website: https://aerodrome.finance 

Aerodrome Finance has rapidly become the dominant liquidity hub of the Base ecosystem, with a sophisticated ve(3,3) model that aligns incentives between traders, liquidity providers, and voters .

• For traders: Ultra-low fees (0.01-0.05%) and deep liquidity across major trading pairs

• For liquidity providers: Multiple yield streams (trading fees + AERO emissions)

• For long-term participants: Lock AERO for veAERO to earn 100% of protocol fees + bribes + rebases

Whether you're a casual trader or a dedicated yield farmer, the key to success on Aerodrome is understanding the flywheel: lock → vote → earn → compound .

Note: Following the November 2025 Aero merger, the platform is expanding across multiple Layer 2 networks. Stay updated via official Aerodrome channels for the latest developments .