--- title: "Aero Protocol Metrics" description: "Aero's unified protocol dashboard — track lifetime exchange revenue, TVL, volume, swap fees, and more all in one place." image: "https://aero.xyz/images/og/og-image-aero-economics-1200x630.png" url: "https://aero.xyz/economics/metrics/" --- # Protocol Metrics This year, Aerodrome (Base) and Velodrome (Optimism) will unify under a single ticker: AERO. Combined metrics give a complete picture of protocol-wide activity across both deployments. Sourced from [Dune Analytics](https://dune.com/) via [Dune API](https://docs.dune.com/api-reference/introduction) — Verified onchain data for Aero. 9 Chains Reporting Chains: Base, Unichain, Fraxtal, Lisk, Soneium, Celo, Ink, Mode, OP Mainnet. Data pulled 2026-09-10T09:35:37Z. Historical series data pulled 2026-09-10T09:27:17Z. ## Lifetime Exchange Revenue Lifetime exchange revenue, Aerodrome and Velodrome combined: $568M. _Exchange revenue by quarter (Aerodrome + Velodrome + Superchain)_ | Quarter | Revenue | | ------- | --------------------------------------------- | | Q3 2023 | $12.9M | | Q4 2023 | $6.4M | | Q1 2024 | $30.7M | | Q2 2024 | $78.5M | | Q3 2024 | $57.7M | | Q4 2024 | $111.2M | | Q1 2025 | $71.8M | | Q2 2025 | $40.6M | | Q3 2025 | $63.6M | | Q4 2025 | $38.6M | | Q1 2026 | $20.5M | | Q2 2026 | $16.4M | | Q3 2026 | $21.0M (in progress — projected total $24.8M) | Weekly and monthly figures draw from per-epoch sources that lag the reconciled quarterly view — recent Velodrome revenue is preliminary. ### By Chain - Base $500.6M - OP Mainnet $64.5M - Ink $1.6M - Unichain $493K - Celo $262K - Soneium $259K - Lisk $126K - Fraxtal $71K ## Protocols TVL. Current TVL: $346.82M. Latest day, Sep 9, 2026: $348M. Over the last 30 days the daily figure ranged from $289M to $348M. Volume. Cumulative Volume: $471.85B. Latest day, Sep 9, 2026: $515M. Over the last 30 days the daily figure ranged from $145M to $707M. Swap Fees. Cumulative Fees: $387.31M. Latest day, Sep 9, 2026: $663K. Over the last 30 days the daily figure ranged from $60K to $663K. Weekly Fees and Incentives. Latest week, Sep 10, 2026: $1.6M in fees and $3 in incentives. Over the last 13 weeks the weekly total ranged from $871K to $8.9M. Cumulative rewards since inception: $570.0M. ## Supply VELO total supply 2.61B, AERO total supply 1.98B, average combined lock duration 3.84 years. 49.8% of the combined supply is currently locked. Lock Rate. Latest week, Sep 10, 2026: 49.8% of the combined supply locked — Aerodrome 50%, Velodrome 49.6%. Aerodrome emissions for the week of Sep 10, 2026: 4.84M tokens in total — 4.14M to LPs, 478.26K rebase, 220.43K team. Velodrome emissions for the week of Sep 10, 2026: 8.23M tokens in total — 7.80M to LPs, 432.64K rebase, 0 team. _Supply distribution, Aerodrome and Velodrome combined, most recent weeks_ | Week | Total supply | Locked | Locked share | | ------------ | ------------ | ------ | ------------ | | Sep 10, 2026 | 4.59B | 2.28B | 49.79% | | Sep 3, 2026 | 4.57B | 2.28B | 49.93% | | Aug 27, 2026 | 4.56B | 2.28B | 50.03% | | Aug 20, 2026 | 4.55B | 2.28B | 50.15% | ## Learn about the all-new economic engine of Aero. [Read Article](/articles/aero-economic-case/) _Machine-readable dataset (the aggregated series behind the charts above):_ ```json {"meta":{"about":"Aggregated Aerodrome + Velodrome series behind the charts on https://aero.xyz/economics/metrics/. Periods sort ascending as strings: YYYY-MM-DD is a week start, YYYY-MM a month, YYYYQn a quarter. null means the source did not report that period, not zero.","currency":"USD","headlinePulledAt":"2026-09-10T09:35:37Z","seriesPulledAt":"2026-09-10T09:27:17Z","series":{"revenue.quarterly":"Exchange revenue per quarter, USD, reconciled source; `projected` is the run-rate remainder of the quarter in progress.","revenue.monthly":"Exchange revenue per month, USD, summed from weekly epochs — a lagging Velodrome source, so recent months are preliminary.","protocolsMonthly":"Per month, USD: tvl at the month's last reported day (a stock), volume and fees summed (flows). On the month in progress, `projected` carries the run-rate remainder for the flows — matching the charts' hatched segment.","feesIncentives":"Fee and incentive rewards distributed per weekly epoch, USD, combined across protocols, last 13 weeks. Distinct from protocolsMonthly.fees (swap fees). cumulativeRewards is lifetime fees + incentives, the chart's cumulative line.","lockRateQuarterly":"Share of supply locked at each quarter's close, percent. `combined` is supply-weighted (Σ locked ÷ Σ total supply), not the mean of the two rates.","emissionsWeekly":"Tokens emitted per weekly epoch, split lp/rebase/team, last 13 weeks per protocol. annualizedInflationPct = total ÷ circulating × 52 × 100.","supplyDistributionWeekly":"Combined AERO+VELO supply per week, tokens, last 13 weeks. lockPct and avgLockYears are re-derived from the summed totals; a week only one protocol has reported carries that protocol alone."},"omitted":["Monthly series before 2024-10 — the last 24 months are carried; quarterly revenue keeps its full history.","Weekly and monthly lock rate — a stock that moves a fraction of a point per week, so quarterly closes carry the shape.","Emissions, supply distribution, and fees and incentives before the last 13 weeks.","Everything omitted here is on the page's charts, which cover full history at week grain."]},"revenue":{"quarterly":[{"period":"2023Q3","total":12891376},{"period":"2023Q4","total":6417946},{"period":"2024Q1","total":30720837},{"period":"2024Q2","total":78486234},{"period":"2024Q3","total":57749082},{"period":"2024Q4","total":111222633},{"period":"2025Q1","total":71843645},{"period":"2025Q2","total":40558011},{"period":"2025Q3","total":63600209},{"period":"2025Q4","total":38599567},{"period":"2026Q1","total":20490424},{"period":"2026Q2","total":16374895},{"period":"2026Q3","total":21027148,"projected":3774104}],"monthly":[{"period":"2024-10","value":33741584},{"period":"2024-11","value":35947383},{"period":"2024-12","value":41533665},{"period":"2025-01","value":40397036},{"period":"2025-02","value":19292012},{"period":"2025-03","value":12154597},{"period":"2025-04","value":10081934},{"period":"2025-05","value":17520189},{"period":"2025-06","value":12955888},{"period":"2025-07","value":17414719},{"period":"2025-08","value":17624538},{"period":"2025-09","value":28560952},{"period":"2025-10","value":19502877},{"period":"2025-11","value":12299713},{"period":"2025-12","value":6796978},{"period":"2026-01","value":8670819},{"period":"2026-02","value":6439860},{"period":"2026-03","value":5379745},{"period":"2026-04","value":5604352},{"period":"2026-05","value":5943084},{"period":"2026-06","value":4827459},{"period":"2026-07","value":5581610},{"period":"2026-08","value":4933288},{"period":"2026-09","value":10512251}]},"protocolsMonthly":[{"period":"2024-10","tvl":962878945,"volume":18632862222,"fees":16191386},{"period":"2024-11","tvl":1116633799,"volume":29053731564,"fees":23010908},{"period":"2024-12","tvl":1040441378,"volume":36937843852,"fees":34318788},{"period":"2025-01","tvl":759650889,"volume":32428917061,"fees":32950199},{"period":"2025-02","tvl":507120266,"volume":20937007310,"fees":18691998},{"period":"2025-03","tvl":474041612,"volume":15086135016,"fees":12100956},{"period":"2025-04","tvl":468642605,"volume":12505238591,"fees":9837373},{"period":"2025-05","tvl":548640837,"volume":18474786934,"fees":14715038},{"period":"2025-06","tvl":612697737,"volume":14770428354,"fees":13567392},{"period":"2025-07","tvl":601777195,"volume":19933836055,"fees":15009554},{"period":"2025-08","tvl":665132425,"volume":23965339474,"fees":18154832},{"period":"2025-09","tvl":655521937,"volume":20247481367,"fees":16182278},{"period":"2025-10","tvl":525686917,"volume":24937200557,"fees":17590302},{"period":"2025-11","tvl":429488656,"volume":18134163542,"fees":12543347},{"period":"2025-12","tvl":451791665,"volume":13358064006,"fees":7273704},{"period":"2026-01","tvl":387407577,"volume":14004874230,"fees":7805863},{"period":"2026-02","tvl":340569119,"volume":11763588537,"fees":7277335},{"period":"2026-03","tvl":321797884,"volume":10232699064,"fees":6559575},{"period":"2026-04","tvl":355821886,"volume":13586881773,"fees":4824763},{"period":"2026-05","tvl":364681491,"volume":15900279161,"fees":6464446},{"period":"2026-06","tvl":325038760,"volume":16604878878,"fees":6218311},{"period":"2026-07","tvl":300635412,"volume":12177425975,"fees":5214950},{"period":"2026-08","tvl":340874391,"volume":11761897141,"fees":6259727},{"period":"2026-09","tvl":347874252,"volume":3449171937,"fees":2797651,"projected":{"volume":8048067854,"fees":6527852}}],"feesIncentives":{"cumulativeRewards":569982007,"weekly":[{"period":"2026-06-18","fees":863034,"incentives":195255},{"period":"2026-06-25","fees":1022023,"incentives":238197},{"period":"2026-07-02","fees":1041675,"incentives":164614},{"period":"2026-07-09","fees":1059049,"incentives":194410},{"period":"2026-07-16","fees":910799,"incentives":120080},{"period":"2026-07-23","fees":927339,"incentives":150936},{"period":"2026-07-30","fees":924758,"incentives":87951},{"period":"2026-08-06","fees":773309,"incentives":107530},{"period":"2026-08-13","fees":785157,"incentives":85582},{"period":"2026-08-20","fees":1012250,"incentives":215974},{"period":"2026-08-27","fees":1874489,"incentives":78996},{"period":"2026-09-03","fees":1239604,"incentives":7707454},{"period":"2026-09-10","fees":1565189,"incentives":3}]},"lockRateQuarterly":[{"period":"2023Q2","combined":83.53,"aero":null,"velo":83.53},{"period":"2023Q3","combined":77.02,"aero":84.03,"velo":73.8},{"period":"2023Q4","combined":67.61,"aero":68.89,"velo":66.94},{"period":"2024Q1","combined":61.38,"aero":60.5,"velo":61.91},{"period":"2024Q2","combined":56.96,"aero":54.68,"velo":58.45},{"period":"2024Q3","combined":53.56,"aero":50.92,"velo":55.4},{"period":"2024Q4","combined":52.23,"aero":49.28,"velo":54.39},{"period":"2025Q1","combined":52.52,"aero":48.75,"velo":55.4},{"period":"2025Q2","combined":52.61,"aero":49.42,"velo":55.11},{"period":"2025Q3","combined":51.27,"aero":48.84,"velo":53.18},{"period":"2025Q4","combined":52.28,"aero":49.84,"velo":54.19},{"period":"2026Q1","combined":52.17,"aero":50.5,"velo":53.46},{"period":"2026Q2","combined":50.93,"aero":50.29,"velo":51.42},{"period":"2026Q3","combined":49.79,"aero":50.02,"velo":49.63}],"emissionsWeekly":{"aero":[{"period":"2026-06-18","lp":4025834,"rebase":453084,"team":219839,"total":4698757,"circulating":1921720191,"annualizedInflationPct":12.71},{"period":"2026-06-25","lp":4035612,"rebase":451999,"team":219814,"total":4707425,"circulating":1926377370,"annualizedInflationPct":12.71},{"period":"2026-07-02","lp":4045392,"rebase":454795,"team":219879,"total":4720066,"circulating":1931056713,"annualizedInflationPct":12.71},{"period":"2026-07-09","lp":4055219,"rebase":454414,"team":219870,"total":4729503,"circulating":1935742342,"annualizedInflationPct":12.7},{"period":"2026-07-16","lp":4065059,"rebase":457449,"team":219941,"total":4742449,"circulating":1940444000,"annualizedInflationPct":12.71},{"period":"2026-07-23","lp":4074932,"rebase":460472,"team":220012,"total":4755416,"circulating":1945164684,"annualizedInflationPct":12.71},{"period":"2026-07-30","lp":4084846,"rebase":463613,"team":220085,"total":4768544,"circulating":1949897342,"annualizedInflationPct":12.72},{"period":"2026-08-06","lp":4094784,"rebase":466488,"team":220152,"total":4781425,"circulating":1954641366,"annualizedInflationPct":12.72},{"period":"2026-08-13","lp":4104747,"rebase":469283,"team":220217,"total":4794247,"circulating":1959393471,"annualizedInflationPct":12.72},{"period":"2026-08-20","lp":4114726,"rebase":472356,"team":220289,"total":4807371,"circulating":1964174426,"annualizedInflationPct":12.73},{"period":"2026-08-27","lp":4124766,"rebase":472571,"team":220294,"total":4817631,"circulating":1968917233,"annualizedInflationPct":12.72},{"period":"2026-09-03","lp":4134726,"rebase":475487,"team":220362,"total":4830575,"circulating":1973685089,"annualizedInflationPct":12.73},{"period":"2026-09-10","lp":4144739,"rebase":478262,"team":220427,"total":4843428,"circulating":1978450301,"annualizedInflationPct":12.73}],"velo":[{"period":"2026-06-18","lp":7511827,"rebase":459966,"team":0,"total":7971792,"circulating":2511760197,"annualizedInflationPct":16.5},{"period":"2026-06-25","lp":7535760,"rebase":460731,"team":0,"total":7996492,"circulating":2519791866,"annualizedInflationPct":16.5},{"period":"2026-07-02","lp":7559474,"rebase":458173,"team":0,"total":8017648,"circulating":2527703026,"annualizedInflationPct":16.49},{"period":"2026-07-09","lp":7583410,"rebase":455467,"team":0,"total":8038877,"circulating":2535708612,"annualizedInflationPct":16.49},{"period":"2026-07-16","lp":7607208,"rebase":452769,"team":0,"total":8059977,"circulating":2543678025,"annualizedInflationPct":16.48},{"period":"2026-07-23","lp":7631124,"rebase":450083,"team":0,"total":8081207,"circulating":2551736679,"annualizedInflationPct":16.47},{"period":"2026-07-30","lp":7655264,"rebase":447285,"team":0,"total":8102549,"circulating":2559781951,"annualizedInflationPct":16.46},{"period":"2026-08-06","lp":7679433,"rebase":444569,"team":0,"total":8124002,"circulating":2567847593,"annualizedInflationPct":16.45},{"period":"2026-08-13","lp":7703705,"rebase":441982,"team":0,"total":8145687,"circulating":2575278628,"annualizedInflationPct":16.45},{"period":"2026-08-20","lp":7725917,"rebase":439724,"team":0,"total":8165641,"circulating":2583294704,"annualizedInflationPct":16.44},{"period":"2026-08-27","lp":7749945,"rebase":437795,"team":0,"total":8187740,"circulating":2591294654,"annualizedInflationPct":16.43},{"period":"2026-09-03","lp":7774120,"rebase":435153,"team":0,"total":8209272,"circulating":2599440347,"annualizedInflationPct":16.42},{"period":"2026-09-10","lp":7798791,"rebase":432638,"team":0,"total":8231429,"circulating":2607628577,"annualizedInflationPct":16.41}]},"supplyDistributionWeekly":[{"period":"2026-06-18","totalSupply":4433640327,"locked":2263678793,"lockPct":51.06,"avgLockYears":3.83},{"period":"2026-06-25","totalSupply":4446202150,"locked":2264445240,"lockPct":50.93,"avgLockYears":3.83},{"period":"2026-07-02","totalSupply":4458860178,"locked":2265583715,"lockPct":50.81,"avgLockYears":3.83},{"period":"2026-07-09","totalSupply":4471478293,"locked":2265965758,"lockPct":50.68,"avgLockYears":3.84},{"period":"2026-07-16","totalSupply":4484152120,"locked":2266195838,"lockPct":50.54,"avgLockYears":3.84},{"period":"2026-07-23","totalSupply":4496919388,"locked":2265781628,"lockPct":50.39,"avgLockYears":3.84},{"period":"2026-07-30","totalSupply":4509708258,"locked":2276282905,"lockPct":50.48,"avgLockYears":3.84},{"period":"2026-08-06","totalSupply":4522543066,"locked":2277746012,"lockPct":50.36,"avgLockYears":3.84},{"period":"2026-08-13","totalSupply":4534699183,"locked":2277944982,"lockPct":50.23,"avgLockYears":3.84},{"period":"2026-08-20","totalSupply":4547489455,"locked":2280708223,"lockPct":50.15,"avgLockYears":3.84},{"period":"2026-08-27","totalSupply":4560290409,"locked":2281671042,"lockPct":50.03,"avgLockYears":3.84},{"period":"2026-09-03","totalSupply":4573282160,"locked":2283444336,"lockPct":49.93,"avgLockYears":3.84},{"period":"2026-09-10","totalSupply":4586078879,"locked":2283600031,"lockPct":49.79,"avgLockYears":3.84}]} ``` ```json {"@context":"https://schema.org","@type":"Organization","name":"Aero","url":"https://aero.xyz","description":"Aero's unified protocol dashboard — track lifetime exchange revenue, TVL, volume, swap fees, and more all in one place.","logo":"https://aero.xyz/images/og/og-image-default-1200x630.png","sameAs":["https://x.com/aeroxyz","https://github.com/Dromos-Labs"]} ```