Coinbase will convert customer holdings of Aerodrome Finance’s AERO and Velodrome Finance’s VELO into a unified AERO token from Nov. 2 through Nov. 4, 2026, after the two decentralized exchanges merge under the Aero brand. Each AERO will convert 1:1, while each VELO will become approximately 0.044 AERO, replacing an earlier proposed 0.55:1 ratio. Coinbase will pause legacy-token deposits and withdrawals, move VELO trading from limit-only mode to a full suspension, and charge no conversion fees. Dromos Labs, which operates both protocols, plans to launch Aero on Oct. 21 across Base, Optimism, Ethereum mainnet, OP Mainnet and Ink among the initial chains. Aerodrome holders are allocated approximately 94.5% of the new AERO supply and Velodrome holders 5.5%, reflecting respective revenue of $260 million and $15 million during the 52 weeks before the merger announcement.