Dromos Labs is taking a consolidation swing at the fragmented DEX landscape. The team behind Aerodrome (Base) and Velodrome (OP Mainnet) plans to merge both into a single platform dubbed Aero, positioning it as a cross‑chain liquidity and incentives layer that starts on Base and extends to Ethereum mainnet and Circle's Arc. The rollout is slated for a Q2 2026 window, with no firm date disclosed.
Why this move matters
Liquidity has scattered across L2s and appchains, leaving traders and LPs navigating bridges, MEV extraction, and inconsistent incentives. Aero is Dromos Labs' bid to stitch that back together: one token to coordinate rewards across EVM networks, one interface for cross‑chain execution, and an engine built to claw back value commonly siphoned off by arbitrage and MEV bots.
The plan: one brand, one stack
Aerodrome and Velodrome won't disappear overnight, but Dromos says they will no longer be supported once Aero is live. Base remains the primary hub, while the unified DEX expands to new networks, beginning with Ethereum mainnet and Circle's Layer 1, Arc, which is currently in testnet. At launch, Aero will be active on all chains where Aerodrome and Velodrome already operate, then extend outward.
Under the hood: METADEX03
Driving the upgrade is Dromos Labs' new operating system, METADEX03. The design goal: reduce value leakage, lower transaction costs, and make routing more efficient across EVM‑compatible environments.
- Slipstream V3: an attempt to capture the edge that typically accrues to external arbitrageurs, redirecting it back to the protocol and its stakeholders.
- MetaSwaps: cross‑chain execution from a single interface, abstracting away chain selection for users while coordinating liquidity and settlement on the back end.
In plain terms, Dromos is aiming to blend aggregator‑style routing, MEV‑aware flow, and multi‑chain orchestration into a single DEX surface. If it works, LPs could see tighter pricing and better fee capture; if it stumbles, complexity and bridge risk could become the bottlenecks.
One token to coordinate the network
Aero will introduce a new native token that governs the unified platform's incentives and rewards. Current AERO and VELO holders will be able to migrate to the new asset under a yet‑to‑be‑detailed transition process. The intent is to concentrate governance, emissions, and bribe markets across all supported EVM chains under one umbrella, effectively scaling the ve(3,3) playbook beyond a single network.
Network strategy and the Arc angle
Anchoring Aero on Base makes strategic sense: Aerodrome already dominates DEX volumes there, and Base has become a consumer‑grade onramp for crypto activity. Expansion to Ethereum mainnet adds the deepest liquidity venue, while Circle's Arc—designed with institutional compliance in mind—could open a more regulated flow of capital if adoption materializes. That mix gives Aero exposure to retail, DeFi‑native, and institutionally oriented liquidity pools.
By the numbers
On Base, Aerodrome is the largest DEX by trading volume and holds $475.9 million in TVL, making it the fourth‑largest protocol on the chain, per DefiLlama data.
Velodrome, launched in 2022 for Optimism's Superchain ecosystem, currently sits around $39 million in TVL, ranking third on OP Mainnet.
Market reaction and signals
Both AERO and VELO climbed roughly 30%–40% over the past week, but remain well below their December 2024 peaks—down about 50% and 88%, respectively, according to CoinGecko. A separate tailwind arrived last month when Animoca Brands disclosed market purchases of AERO for long‑term holding and staking, without revealing the amount.
Competitive landscape
Aero will enter a field where routing, MEV capture, and cross‑chain UX are hotly contested. UniswapX and CoW Swap push intent‑based execution and MEV‑aware settlement; Curve and Maverick iterate on capital efficiency and dynamic liquidity; chain‑agnostic routers are racing to abstract bridges. Aero's differentiation hinges on whether METADEX03 can systematically internalize arbitrage value and coordinate incentives across multiple chains—without degrading security or UX.
Risks and open questions
- Timeline: Q2 2026 is ambitious. Market cycles, chain upgrades, and security demands could slip dates.
- Security: Cross‑chain coordination introduces new attack surfaces. Details on messaging, settlement, and failure modes will matter.
- Tokenomics: Conversion terms for AERO/VELO holders, emission schedules, and ve‑style lock mechanics will drive adoption—or friction.
- Arc adoption: Circle's Arc is in testnet; institutional traction, compliance frameworks, and on‑chain liquidity depth remain unknowns.
What to watch next
Expect more color on the token migration path, incentive design, and how Slipstream V3 captures and redistributes MEV. Technical documentation on MetaSwaps and supported bridges/messengers will be key diligence items for sophisticated users. For now, Aerodrome and Velodrome continue to run, but their center of gravity is clearly shifting toward Aero.