Single-coin evidence report · By CoinNudge Research · · Guide updated 2026-10-03 · 20 min read
What is Aerodrome (AERO) coin, and is it worth holding?
Aerodrome (AERO) coin is the liquid token of a Base exchange; veAERO is a separate locked voting position. Market evidence ends at the 2026-09-26 UTC daily open; supply and operating records have separate dates below. AERO rose +93.1% over its available 60-day Binance window versus BTC +31.9%, but this local market has only 72 daily opens and no complete 90-day cohort. Its eight eligible 14-day weekly starts are exploratory, not a durable win-rate estimate. The investment question is whether veAERO fee participation compensates for ongoing AERO emissions and lock-up risk. Four-week Base chain snapshots show AERO supply rose 19,117,657 units while the official vote-escrow balance rose 5,389,349; this verifies token stocks, not realized veAERO income or passive-holder yield.
See the research evidence · Check live market context
Quick answer: AERO coin in three checks
- Aerodrome (AERO) coin is the liquid token of a Base exchange; veAERO is a separate locked voting position. Market evidence ends at the 2026-09-26 UTC daily open; supply and operating records have separate dates below. AERO rose +93.1% over its available 60-day Binance window versus BTC +31.9%, but this local market has only 72 daily opens and no complete 90-day cohort. Its eight eligible 14-day weekly starts are exploratory, not a durable win-rate estimate. The investment question is whether veAERO fee participation compensates for ongoing AERO emissions and lock-up risk. Four-week Base chain snapshots show AERO supply rose 19,117,657 units while the official vote-escrow balance rose 5,389,349; this verifies token stocks, not realized veAERO income or passive-holder yield.
- Historical coverage: 72 daily opens; 0 complete 90-day monthly starts. 90-day cohort remains exploratory.
- Token-specific question: Do Aerodrome trading fees flow to a passive AERO holder or only to locked veAERO voters?
What are AERO and veAERO on Base?
Aerodrome is a Base exchange with an emissions-and-voting system. AERO is the liquid utility token; locking it creates veAERO governance rights. Passive AERO ownership is not the same fee claim as participating in veAERO voting.
The investor question is: Do Aerodrome trading fees flow to a passive AERO holder or only to locked veAERO voters? This report tests what the token does, what it does not entitle a holder to, how supply can change and what actual dated spot paths showed. Price history is not used as proof that product use caused the move.
| AERO research check | Observed or documented answer | Evidence boundary |
|---|---|---|
| Token and project | Aerodrome is a Base exchange with an emissions-and-voting system. AERO is the liquid utility token; locking it creates veAERO governance rights. Passive AERO ownership is not the same fee claim as participating in veAERO voting. | Business success and tokenholder benefit differ |
| Available local/venue daily opens | 72 from 2026-07-17 to 2026-09-26 | local archive, potentially retrospective backfill |
| Current chart | 60 matched UTC days vs BTC | Historical opens, not a live quote |
| Provider-estimated circulating supply | 996,184,175 | CoinGecko 2026-09-27T02:55:20.000Z |
Verify: Aerodrome official protocol docs · Aerodrome AERO legal disclosures
Who receives Aerodrome swap fees: AERO holders or veAERO voters?
Unlocked AERO does not automatically receive veAERO voter rewards. Aerodrome’s documentation distinguishes liquidity providers, traders and vote-escrow token operators. Operators lock AERO for one week to four years, receive veAERO, vote on gauges and may receive the exchange revenue associated with those votes. A passive wallet holding unlocked AERO does not automatically receive those voter rewards.
Fee receipts are not the same as profit. A voter must consider lock duration, pool choice, incentive composition, veAERO market value and the opportunity cost of not selling. A liquidity provider can earn AERO emissions or swap fees depending on its position; those economics must not be added to the returns of a passive spot AERO holder.
The owner of a token, user of a product, operator earning incentives and shareholder of a company can be different parties. The table below keeps their claims separate instead of transferring a product benefit to every AERO wallet.
For a veAERO strategy, reconcile rewards actually received, valuation dates, position costs and lock exit constraints; keep those flows separate from unlocked AERO price return. Supply/escrow changes cannot establish a verified yield because realized rewards and the correct position denominator are missing.
| Role | What the source supports | What it does not establish |
|---|---|---|
| Unlocked AERO holder | May transfer or lock AERO | No direct fee distribution or governance vote solely from unlocked holdings |
| veAERO operator | Votes with a locked NFT and can earn rule-based voting rewards | Lock duration, votes and market risk still matter |
| Liquidity provider | May receive AERO emissions or swap fees under pool rules | LP returns are not passive AERO holding returns |
Verify: Aerodrome official protocol docs · Aerodrome AERO legal disclosures
How do weekly AERO emissions and long locks change dilution?
Growing escrow balances do not alone eliminate dilution of unlocked AERO; compare issuance and locks. The protocol documents weekly AERO emissions and a separate veAERO mechanism. The frozen CoinGecko estimate has no maximum-supply field; treating the current total as a hard cap would be wrong. Existing and newly emitted units can dilute an unlocked holder even while exchange fees are growing.
A rigorous fee-versus-dilution study needs the same-week emissions, swap-fee revenue, voting incentives, active veAERO supply and locked-position duration. This release provides the price-path experiment and primary rule definitions, not an audited week-by-week net-yield series. Project-reported cumulative buybacks also do not cancel every holder’s exposure to emissions.
The 2026-09-27T02:55:20.000Z CoinGecko snapshot lists 996,184,175 circulating AERO, 1,988,034,890 total and no reported maximum. A reported stock difference is not an unlock event, a date or a sell order. Actual vesting rules and transfer records need a separate dated check.
| Supply or valuation field | Frozen value | Use correctly |
|---|---|---|
| Circulating units | 996,184,175 | Provider estimate; not an on-chain audit |
| Total units | 1,988,034,890 | Do not substitute for current float |
| Maximum units | Not reported | Missing maximum is not zero |
| Market capitalization | $862,085,522 | Price × provider circulating amount |
| Fully diluted valuation | $1,720,420,922 | Scenario stock value; not near-term selling amount |
Verify: Original provider snapshot · Aerodrome official protocol docs · Aerodrome AERO legal disclosures
Is more AERO being issued than locked in veAERO?
Over the frozen four weeks, total AERO supply increased more in units than escrow balances; that measures stocks, not voter profit. We queried the official AERO ERC-20 and VotingEscrow contracts on Base at 14 prespecified Saturday UTC boundaries, from 2026-06-27 to 2026-09-26. Total supply was 1,968,917,233 four weeks before the cutoff and 1,988,034,890 at the cutoff (+1.0%); AERO held by the official escrow was 986,171,909 and then 991,561,258 (+0.5%). The latest escrow balance equals 49.9% of ERC-20 total supply. Each row includes its Base block number and hash so the contract calls can be repeated.
The non-escrow portion of totalSupply also rose from 982,745,323 to 996,473,632 over those four weeks; this is not a circulating-supply estimate because other contracts and custodians may also hold AERO. A supply increase is net minting minus any burns, not a reconstructed gross weekly emission total. The escrow balance is locked stock, not independent voters or rewards distributed to them. Aerodrome's dated April 2026 documentation reports over $185 billion cumulative volume, over $270 million cumulative swap fees and approximately $450 million or more cumulative revenue distributed to token operators. The latter includes fee and incentive mechanisms, so it must not be treated as swap fees alone. All three figures are issuer-reported lifetime totals rather than our reconstructed weekly receipts. We have not reconstructed same-week pool fees, incentives and realized veAERO distributions from every gauge, so fee-versus-dilution net yield remains unverified.
| AERO operating / token-capture test | Dated evidence | What it can prove |
|---|---|---|
| Base AERO total supply, cutoff / 4 weeks prior | 1,988,034,890 / 1,968,917,233 | Direct ERC-20 totalSupply, not circulating float |
| AERO at official VotingEscrow, cutoff / 4 weeks prior | 991,561,258 / 986,171,909 | Locked stock, not voter payout |
| Non-escrow supply, cutoff / 4 weeks prior | 996,473,632 / 982,745,323 | Other custodians may still hold units |
| Issuer-reported lifetime volume / fees / operator revenue, April 2026 | > $185bn / > $270m / ≈ $450m+ | Revenue includes incentives; one dated issuer claim, not a current weekly series |
| Same-week voter distributions minus issuance | Not fully reconstructed | Net holder-capture question still open |
Verify: Frozen operating-evidence record · 14 weekly Base contract-state observations · Official AERO and VotingEscrow addresses · Aerodrome emission and veAERO rules
How did AERO supply and the veAERO escrow balance change across 14 weeks?
The 14 weekly Base snapshots verify simultaneous supply and escrow growth, not a holder’s fee income. Each row is the last Base block at or before the stated Saturday 00:00 UTC boundary. The block number and full hash in the downloadable file identify the exact historical state; token units come directly from ERC-20 totalSupply and AERO balanceOf the official VotingEscrow contract. These snapshots were retrieved retrospectively and are not claimed to have been recorded by CoinNudge at the original time.
The two stock series should be read together: a higher escrow balance can coexist with rising total AERO supply. Weekly differences are net changes, not gross emissions, unique new lockers or fees paid to a specific voter.
| UTC snapshot | AERO total supply | AERO in VotingEscrow | Base block |
|---|---|---|---|
| 2026-06-27 | 1,926,377,370 | 968,404,170 | 47864526 |
| 2026-07-04 | 1,931,056,713 | 968,909,695 | 48166926 |
| 2026-07-11 | 1,935,742,342 | 970,942,664 | 48469326 |
| 2026-07-18 | 1,940,444,000 | 970,881,049 | 48771726 |
| 2026-07-25 | 1,945,164,684 | 971,019,931 | 49074126 |
| 2026-08-01 | 1,949,897,342 | 971,061,210 | 49376526 |
| 2026-08-08 | 1,954,641,366 | 981,443,692 | 49678926 |
| 2026-08-15 | 1,959,393,471 | 982,328,065 | 49981326 |
| 2026-08-22 | 1,964,174,426 | 982,776,412 | 50283726 |
| 2026-08-29 | 1,968,917,233 | 986,171,909 | 50586126 |
| 2026-09-05 | 1,973,685,089 | 986,871,132 | 50888526 |
| 2026-09-12 | 1,978,450,301 | 989,621,827 | 51190926 |
| 2026-09-19 | 1,983,240,736 | 990,530,648 | 51493326 |
| 2026-09-26 | 1,988,034,890 | 991,561,258 | 51795726 |
Verify: Complete on-chain snapshot JSON · Complete on-chain snapshot CSV
Did AERO’s 60-day rise survive a BTC-matched comparison?
AERO’s available 60-day path outperformed BTC, but this Binance archive cannot answer the 90-day comparison. A 90-day return is deliberately blank: AEROUSDT first enters this dataset on 2026-07-17, leaving 19 prelisting or unavailable daily opens in the requested interval. The 60-day comparison is visible, but it cannot be promoted to a 90-day history.
The line chart normalizes AERO and BTC to 100 at the same UTC start, making relative direction visible without pretending that the two assets have comparable unit prices. Both asset and BTC come from Binance USDT spot daily opens. Intraday low, spread, fees and actual execution can produce a worse realized experience than the line shows.
| Holding window | AERO spot return | BTC spot return | AERO − BTC | Asset path drawdown |
|---|---|---|---|---|
| 7 days | +32.4% | +4.0% | +28.4 pp | −5.0% |
| 14 days | +49.1% | +8.9% | +40.2 pp | −7.7% |
| 30 days | +63.8% | +6.4% | +57.3 pp | −15.0% |
| 60 days | +93.1% | +31.9% | +61.2 pp | −15.0% |
| 90 days | Not covered | — | 19 missing/prelisting daily opens | — |
| 180 days | Not covered | — | 109 missing/prelisting daily opens | — |
| 365 days | Not covered | — | 294 missing/prelisting daily opens | — |
Verify: Full frozen return inputs
What can eight short AERO holding periods actually tell us?
The eight qualifying 14-day starts provide counterexamples, not dependable holding odds: four beat BTC but all eight had deeper drawdowns. We predefine calendar-first 90-day and 30-day starts plus Monday 14-day starts from the first available daily bar through the last date that permits a complete exit on 2026-09-26. Every candidate must have each asset and BTC daily open in the path. We neither choose a favorable entry date nor fill a missing day with zero. The three cohorts answer different holding-horizon questions; they are not pooled into a single success rate.
Only 8 14-day weekly starts qualify; median and counts are exploratory and should not be read as stable odds. The 14-day weekly starts median AERO return was +15.3%, BTC’s was +0.1%, and 4/8 asset paths finished ahead of BTC. 8/8 had a deeper daily-open drawdown than BTC.
| Prespecified cohort | Complete / candidates | AERO median | Beat BTC | Deeper drawdown | Reading status |
|---|---|---|---|---|---|
| monthly 30d | 1/1 | +15.4% | 0/1 | 1/1 | Exploratory: n<20 |
| monthly 90d | 0/0 | — | — | — | Exploratory: n<20 |
| weekly 14d | 8/8 | +15.3% | 4/8 | 8/8 | Exploratory: n<20 |
Verify: Full candidate and outcome dataset · Excluded/missing ledger
Does the AERO result persist after different BTC market states?
No stable cross-regime conclusion is possible: seven AERO starts followed nonnegative BTC months and only one followed a negative month. For the 14-day weekly starts sample, we classify the previous 30-day BTC return using only BTC daily opens before each hypothetical entry. This is a genuinely pre-entry state label, not a split by whether BTC rose after entry. It tests whether the observed relation looks different across prior market environments, but small and overlapping groups cannot establish a trading rule.
The worst BTC-relative 14-day start was 2026-07-20: AERO −11.8% versus BTC −1.8%, with −12.0% AERO path drawdown. The best counterexample was 2026-09-07: AERO +18.9% versus BTC +1.0%. Both belong to the same prespecified candidate universe; neither was selected to define the rule.
8 of 8 14-day observations are printed below. A daily-open drawdown misses intraday moves, and a historical endpoint omits spreads, liquidity and tax. The cohort table above includes every eligible horizon group.
| Prior BTC 30d state | n | AERO median | AERO beat BTC |
|---|---|---|---|
| Prior BTC 30d ≥ 0 | 7 | +15.2% | 4/7 |
| Prior BTC 30d < 0 | 1 | +18.2% | 0/1 |
| Prior BTC unavailable | 0 | — | — |
Which AERO entry dates support or contradict the headline?
All eight eligible AERO 14-day starts appear below; mixed BTC-relative outcomes prevent the latest rally from replacing the small sample. The rows below are all eligible 14-day starts for the main sample. Date, terminal return and path drawdown should be read together. A positive final return may still have required surviving a large temporary loss. A negative BTC-relative result does not imply an absolute loss, and vice versa.
AERO’s current headline path and the distribution of older starts answer different questions. For a decision today, verify live fundamentals, possible supply transfers, current spread and your own maximum loss before inferring anything from a past cohort.
| UTC entry | Horizon | AERO return | BTC return | AERO − BTC | AERO drawdown |
|---|---|---|---|---|---|
| 2026-07-20 | 14d | −11.8% | −1.8% | −10.0 pp | −12.0% |
| 2026-07-27 | 14d | −2.8% | −0.8% | −2.1 pp | −9.1% |
| 2026-08-03 | 14d | +1.6% | −1.1% | +2.7 pp | −9.3% |
| 2026-08-10 | 14d | +15.4% | +19.8% | −4.4 pp | −4.4% |
| 2026-08-17 | 14d | +18.2% | +23.5% | −5.3 pp | −12.0% |
| 2026-08-24 | 14d | +15.2% | +3.4% | +11.8 pp | −14.9% |
| 2026-08-31 | 14d | +15.9% | −1.1% | +17.0 pp | −12.3% |
| 2026-09-07 | 14d | +18.9% | +1.0% | +17.8 pp | −15.0% |
Verify: Download all cohort rows
Can AERO daily turnover stand in for Base-pool exit liquidity?
No: Binance turnover cannot establish liquidity in a Base pool or exit terms of a locked veAERO position. AERO’s archived Binance Spot USDT daily candles have 30 valid quote-turnover days in the last 30. Their median daily quoted turnover is $3,006,475. This is an amount traded throughout a day, not the amount available at the current bid, and it does not prove a $10,000 or institutional-size order can be executed near a headline price.
The evidence in this release does not include a synchronized, venue-specific level-two book for AERO. We therefore do not report a fabricated current spread, ±1% depth or expected slippage. Before taking action, inspect the live order book, trade size, market impact, available pairs and withdrawal conditions on the actual venue.
Before an actual AERO trade, compare intended size with fresh bids/asks on the same venue and estimate entry plus exit fees and adverse slippage. Repeat after a material price move. If the fill estimate is missing or exceeds the loss budget, reduce proposed size or wait. This is an execution-check method, not a fill simulation performed in the frozen study.
| Execution question | Observed answer | Missing check |
|---|---|---|
| 30-day median daily quote turnover | $3,006,475 | Not executable depth |
| Venue | Binance Spot USDT | Check the intended trading venue |
| Live bid/ask spread | Not sampled for this release | Capture a fresh order book |
| $10,000 round-trip costs | Not estimated | Include exchange fees, slippage and funding if leveraged |
Verify: Current multi-market liquidity study · Dated venue candle inputs
Which Aerodrome governance arguments are testable?
Separate protocol activity, emissions and rewards actually attributable to the chosen Aerodrome position. Aerodrome community claims often combine Base ecosystem growth, swap fees, buybacks and veAERO returns into one bullish number. Separate each flow. Growth of Base DEX volume could raise fees, yet passive AERO holders may not capture those fees without locking and voting, and more emissions can offset demand.
This release has no verified count of unique social users or independently filtered sentiment. A trending placement or message volume could include promotions, repeated posts or ticker collisions. We use community discussion to identify claims to test, not as a measured demand or tokenholder-income variable.
Verify: Aerodrome official protocol docs · Aerodrome AERO legal disclosures
Is AERO worth holding without locking for veAERO?
Unlocked AERO is price-and-emissions exposure, not the same strategy as locking and voting for veAERO rewards. The evidence does not justify an unconditional “buy” or “sell.” The stronger case would be: Verified sustained fee revenue and voter returns exceed emissions and lock-up costs for the exact strategy being considered, with sufficient exit liquidity at the chosen venue. The weaker case would be: Emissions remain high relative to organic fee demand, votes or incentives concentrate, or spot liquidity weakens after a momentum-driven rally.
A practical holding checklist is to define a time horizon, the project-to-token mechanism, next supply milestone, position size and acceptable drawdown. Decide what observation would falsify the thesis. The main historical sample is below the 20-observation exploratory threshold, so do not turn its percentage into odds.
Choose the position first: unlocked AERO, a veAERO voting position or a liquidity-provider position. For veAERO verify current lock, voting and reward terms plus a realized-reward ledger; for unlocked AERO assess supply growth and fresh spot depth. If the thesis requires voter income but the intended position is only spot AERO, the investment does not match the evidence.
| Decision gate | Evidence to request | Failure sign |
|---|---|---|
| Token-specific value capture | Do Aerodrome trading fees flow to a passive AERO holder or only to locked veAERO voters? | Only project growth is shown |
| Supply and float | Official allocation plus actual transfers | Unmeasured release reaches market |
| Historical opportunity cost | 8 complete 14-day weekly starts versus BTC | Single rally is treated as a general rule |
| Execution | Fresh venue depth, size and fees | Quoted price cannot be filled |
| Thesis invalidation | Emissions remain high relative to organic fee demand, votes or incentives concentrate, or spot liquidity weakens after a momentum-driven rally. | No observable reassessment trigger |
Verify: Frozen AERO operating evidence · Complete AERO paired-price study
Why is this AERO report limited to a shorter market history?
Calculation single-coin-paired-paths-20260927-1.0; daily-open endpoint 2026-09-26 UTC; coverage 2026-07-17–2026-09-26. The asset’s historical source is local archive, potentially retrospective backfill. This is retrospective market research, not a claim that CoinNudge observed every older bar in real time.
AERO uses Binance AERO/USDT and BTC uses Binance BTC/USDT; both are paired at the same UTC daily open. Recent endpoints use 7/14/30/60/90/180/365 daily-open intervals only when all intermediate opens exist. Cohorts use every calendar month-first 30/90-day start and every Monday 14-day start from first available bar, with complete paired paths only. No strategy, fees, spreads, taxes, staking or causal token-use inference. Overlapping windows are dependent; fewer than 20 rows is exploratory. Historical archive/API retrieval is not proof the data was locally known at the original event time. Returns equal end open divided by start open minus one. BTC-relative differences are percentage points. Drawdown is the minimum of path value divided by its prior peak minus one. Candidate starts and all outcomes are preserved; a missing path is null, never a zero return.
The release exposes the calculation inputs, field dictionary, 9 observed cohort rows, 0 excluded candidates, source supply snapshot and SHA-256 input/output identities. Data from CoinGecko and project documents have their own timestamps and are not inserted as features known at a historical start. An independent rerun should match the downloadable rows before interpreting the prose.
Editing updated 2026-10-03: clarified section answers, holding decisions and evidence scope only. September frozen datasets, formulas, sample counts, charts and method version remain unchanged; the editing date is not a new market observation.
| Reproduction file | Purpose | Boundary |
|---|---|---|
| Research JSON | /research-data/hot-coin-profiles/2026-09-27-v1/aero.json | Summary, version and hashes |
| All outcome rows | /research-data/hot-coin-profiles/2026-09-27-v1/aero-observations.csv | Every candidate that passed paired coverage |
| Missing/excluded starts | /research-data/hot-coin-profiles/2026-09-27-v1/aero-exclusions.csv | Explicit absent pairs; no invented zeroes |
| Asset daily inputs | /research-data/hot-coin-profiles/2026-09-27-v1/aero-daily-inputs.csv | Unrounded venue observations |
| BTC daily inputs | /research-data/hot-coin-profiles/2026-09-27-v1/btc-daily-inputs.csv | Same-date comparator |
| Field dictionary | /research-data/hot-coin-profiles/2026-09-27-v1/field-dictionary.json | Deterministic formulas and status |
| Release manifest | /research-data/hot-coin-profiles/2026-09-27-v1/manifest.json | SHA-256 of frozen files |
Verify: CoinNudge frozen paired-price study · All matched outcome rows · All asset daily inputs · Same-date BTC daily inputs · Missing-pair ledger · Frozen CoinGecko supply snapshot · Field dictionary and calculation contract · Aerodrome official protocol docs · Aerodrome AERO legal disclosures · Frozen operating-evidence record
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Frequently asked questions
What is AERO coin used for?
Aerodrome is a Base exchange with an emissions-and-voting system. AERO is the liquid utility token; locking it creates veAERO governance rights. Passive AERO ownership is not the same fee claim as participating in veAERO voting. Documented use is not a guaranteed token price or holder income.
Is AERO coin worth holding based on this evidence?
Aerodrome (AERO) coin is the liquid token of a Base exchange; veAERO is a separate locked voting position. Market evidence ends at the 2026-09-26 UTC daily open; supply and operating records have separate dates below. AERO rose +93.1% over its available 60-day Binance window versus BTC +31.9%, but this local market has only 72 daily opens and no complete 90-day cohort. Its eight eligible 14-day weekly starts are exploratory, not a durable win-rate estimate. The investment question is whether veAERO fee participation compensates for ongoing AERO emissions and lock-up risk. Four-week Base chain snapshots show AERO supply rose 19,117,657 units while the official vote-escrow balance rose 5,389,349; this verifies token stocks, not realized veAERO income or passive-holder yield. This is dated non-personalized research, not a trade instruction.
How did AERO perform versus Bitcoin?
Across the frozen 60-day same-UTC daily-open window, AERO returned +93.1% and BTC returned +31.9%. Historical paths do not forecast the next period.
How much historical AERO data is available?
This release covers 72 asset daily opens from 2026-07-17 through 2026-09-26 on Binance Spot USDT. Backfills and public API retrieval are retrospective, not original-date CoinNudge observations.
Does holding AERO pay me Aerodrome swap fees?
No automatic claim is documented for unlocked AERO. Voting rewards are tied to veAERO positions and rule-based participation.
How long can AERO be locked?
Official docs describe lock periods from one week to four years; duration affects voting power.
Is AERO 90-day historical outperformance proven here?
No. The local Binance AERO history starts July 17, 2026; this release has no complete 90-day holding cohort.
Does the veAERO locked balance prove AERO holders earned fees?
No. The 14 direct Base snapshots verify total AERO supply and tokens in the official escrow. They do not calculate individual fee payouts, lock-adjusted yield or passive spot-holder income.
Can I verify the AERO calculations?
Yes. The full JSON, 9 cohort rows, daily input files, field dictionary, exclusion ledger and manifest are linked on the page.
What evidence should I check before holding AERO?
Choose the position first: unlocked AERO, a veAERO voting position or a liquidity-provider position. For veAERO verify current lock, voting and reward terms plus a realized-reward ledger; for unlocked AERO assess supply growth and fresh spot depth. If the thesis requires voter income but the intended position is only spot AERO, the investment does not match the evidence.
Sources and verification
- CoinNudge frozen paired-price studyVersion, full summary, all observations and hashes
- All matched outcome rowsComplete monthly and weekly cohort ledger
- All asset daily inputsUnrounded source opens, turnover and provenance
- Same-date BTC daily inputsBTC comparator candles
- Missing-pair ledgerExplicit rejected candidates, empty if none
- Frozen CoinGecko supply snapshotProvider-defined supply and timestamp
- Field dictionary and calculation contractPrecise formulas and missing-value semantics
- Aerodrome official protocol docsFees, gauges, emissions and veAERO voting mechanics
- Aerodrome AERO legal disclosuresAERO alone versus veAERO rights and ongoing emissions
- Frozen operating-evidence record
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