Dromos Labs has published the full economic model behind Aero, the onchain spot exchange that combines Aerodrome and Velodrome, two DEXs that lead trading on Base and OP Mainnet. Aero goes live on October 21, built on the new MetaDEX03 architecture.

At launch, Aero deploys on Ethereum Mainnet, Base, Arbitrum, OP Mainnet, Ink, Arc and Robinhood Chain. By mid-October, these seven networks handled nearly four times the DEX volume of Base and OP Mainnet combined.

Staked AERO (sAERO) is a claim on all exchange revenue: pool fees, liquidity and launch payments, and service fees.

To limit dilution, Gauge Caps tie AERO rewards to each pool's revenue, targeting about 1.2x across the exchange, while a market-aware Momentum Fund buys back and burns AERO and sAERO. Earlier Aerodrome programs bought back or locked about 180M AERO, roughly 18% of supply.