Jack Paul 
Aerodrome Finance and Velodrome will merge into Aero on Oct. 21, creating one cross-chain decentralized exchange across seven networks. The swap is not automatic. Holders who self-custody AERO, VELO, veAERO or veVELO must use the upgrade portals when they open. AERO converts one-for-one. VELO converts at about 0.044 new AERO per token. In practice, the manual step is the part most likely to trip people up.
Swap ratio and supply
The VELO rate comes from projected launch supply. Aero expects about 1.99 billion new AERO from Aerodrome and 116 million from Velodrome, or around 2.11 billion total. Aerodrome holders get 94.5% of supply; Velodrome holders get 5.5%. Because the final rate depends on supply at launch, the project calls it approximate. The rate applies to circulating and locked tokens, according to the launch details.
What holders need to do
Before upgrading, holders should claim unclaimed rewards and rebases. They should also clear active votes, since anything left unclaimed cannot be recovered later. xVELO must first be bridged back to OP Mainnet. Users need a small amount of ETH for fees: ETH on Base for Aerodrome and ETH on OP Mainnet for Velodrome. veNFTs that voted in the final epoch can upgrade one hour after launch, at Oct. 22, 01:00 UTC. The portals open at Oct. 22, 00:00 UTC, which is Oct. 21, 8 p.m. ET. The final voting round closes Oct. 21 at 6:59 p.m. ET.
Locks, rewards and networks
Locked positions and the veAERO and veVELO voting tokens become sAERO, a staked form of the new token. Remaining lock time is rounded up to the next full week, and permanent locks become maximum-duration stakes. sAERO changes how emissions are directed. Instead of weekly votes, holders allocate rewards in real time and earn exchange revenue as it accrues. There is a 47-hour cooldown on initial allocation changes. Aero will run on Base, Ethereum mainnet, OP Mainnet, Arc, Ink, Robinhood Chain and Arbitrum. Binance confirmed on Oct. 16 that it will support the swap for its users. The new AERO contract address will be published through official Aero channels on launch day, so holders should check that address before approving any transaction.