Aerodrome and Velodrome merged into one plane. The seating chart tells you who bought the tickets.
Aero went live on seven chains: Ethereum, Base, Robinhood Chain, Ink, OP Mainnet, Arc, Arbitrum.
The split: Aerodrome holders get 94.5% of the new AERO. Velodrome holders get 5.5%, based on each side's revenue over the prior 52 weeks. VELO converts at 0.044. Not automatic, not reversible.
Velodrome was the original. Its holders now have a lovely view of the tail.
Follow the Value: 100% of exchange revenue goes to sAERO stakers, per CEO Alex Cutler. No team or VC allocation, per Bankless. Weekly gauge votes are out. "Predictive Allocation" is in: stake, point rewards at markets you think will earn fees, collect if they do.
That part is honest. Value reaches the token only if you lock it. Liquid AERO is a boarding pass, not a seat.
The bet is that continuous voting across seven chains beats weekly voting on one. Better flywheel, or just more wheels?