Coinbase Converts VELO to AERO November 2: What to Do
Short answer: Coinbase converts VELO to the new AERO token from November 2 to 4, 2026. The rate is about 0.044 AERO per VELO. There is no conversion fee. VELO trading on Coinbase stops on November 2. If your VELO sits on regular Coinbase, you can do nothing. Prime Vault and self-custody holders have to act themselves.
Educational content, not investment, legal or tax advice. Dates, rates and prices come from the sources listed below and can change.
Velodrome’s VELO token is going away, and Coinbase has put a date on it. The notice went up on October 28, 2026. It is short, but it splits holders into three groups with very different jobs.
This one is laid out as plain questions and answers. Find the question that matches where your VELO is, read that answer, and skip the rest.
Questions Answered Here
- What exactly is Coinbase doing on November 2?
- How much AERO will I get for my VELO?
- Should I sell VELO before November 2 or let it convert?
- What if my VELO or AERO is in Coinbase Prime Vault?
- What if I hold VELO in my own wallet?
- What happens to locked veVELO?
- Which dates matter, in one list?
What exactly is Coinbase doing on November 2?
Coinbase will convert Aerodrome Finance (AERO) and Velodrome Finance (VELO) held on its platform into the new Aero (AERO) token from November 2 to 4, 2026, according to the Coinbase status notice posted October 28, 2026.
The notice lists four changes:
- Old AERO converts to new AERO at 1:1.
- VELO converts at approximately 0.044 AERO per VELO.
- Sends and receives of AERO and VELO are paused from November 2 and come back on November 4.
- VELO trading is disabled on November 2. AERO trading is not affected.
Coinbase says there are no transaction fees on the conversion itself. After it finishes, Coinbase will only support deposits and withdrawals of the new AERO token.
That last line is the one that can cost money. Legacy AERO sent to a Coinbase deposit address after the migration may not be recoverable, per the same notice.
How much AERO will I get for my VELO?
A Coinbase VELO holder receives approximately 0.044 new AERO per VELO, so 10,000 VELO becomes about 440 AERO, according to Coinbase’s October 28, 2026 notice.
The rate comes from the merger itself. Aero’s upgrade and launch hub says Velodrome holders receive 5.5% of the new AERO supply and Aerodrome holders 94.5%, and notes the rate is based on projected supplies.
I worked out what that means in dollars using CoinGecko prices read at 00:13 UTC on October 30, 2026: AERO at $0.6196 and VELO at $0.02724.
| VELO held | AERO after conversion (x 0.044) | Value as AERO | Value if sold as VELO now | Gap |
|---|---|---|---|---|
| 1,000 | 44 | $27.26 | $27.24 | +$0.02 |
| 10,000 | 440 | $272.62 | $272.43 | +$0.19 |
| 50,000 | 2,200 | $1,363.11 | $1,362.14 | +$0.97 |
When I compared the two prices, I found that VELO was trading at about 0.04397 AERO, a gap of roughly 0.07% to the conversion rate. So the market has already priced the swap in. There is no free money in waiting, and no big penalty either.
Two caveats. Coinbase says “approximately” 0.044, so the final figure can differ slightly. And both prices move every minute. The table is a snapshot, not a quote.
Should I sell VELO before November 2 or let it convert?
A Coinbase VELO holder who wants to keep exposure to the merged protocol can simply wait for the automatic conversion, while a holder who wants out has to sell before VELO trading is disabled on November 2, 2026.
| Choice | What you end up with | Cost | Watch out for |
|---|---|---|---|
| Do nothing | New AERO, about 0.044 per VELO | No conversion fee, per Coinbase | Possible tax event; check locally |
| Sell VELO before Nov 2 | Cash or stablecoin | Normal Coinbase trading fee and spread | Thin VELO volume can widen the spread |
| Sell, buy AERO later | AERO at a new price | Two sets of trading fees | Usually worse than letting it convert |
| Withdraw VELO to a wallet | VELO you upgrade yourself | Network fees plus upgrade gas | Must finish before sends pause Nov 2 |
Honestly, for most small balances the first row is the sensible one.
The spread point is real, though. CoinGecko showed about $529,000 in 24-hour VELO volume on October 30, against about $27.8 million for AERO. A market sell of a large VELO balance can move the price more than the 0.07% gap in the table above.
What if my VELO or AERO is in Coinbase Prime Vault?
AERO and VELO held in Coinbase Prime Vault will not be converted automatically, and Coinbase tells Prime clients to move them to the Prime Trading wallet before November 2, 2026, according to the Coinbase Prime status notice.
Here’s where people get tripped up. The Prime timeline is longer than the retail one:
- Prime Trading converts from November 2 to 6, 2026, not November 2 to 4.
- Legacy AERO is delisted from Prime Vault on November 2.
- The new AERO token is enabled on Prime Vault on November 6.
- Prime keeps supporting VELO sends and receives, so VELO left in the Vault simply stays VELO.
I noticed that the retail notice and the Prime notice give different end dates. If you use both, follow the one for the account the tokens are actually in.
What if I hold VELO in my own wallet?
A self-custody VELO holder has to upgrade manually through the Upgrade portal on velodrome.finance, because Aero’s upgrade hub states that “nothing converts automatically” for tokens outside exchanges.
- Open velodrome.finance (or aerodrome.finance for AERO) by typing the address yourself, not from a link in a DM.
- Connect the wallet that holds the tokens. It must support Base, where the new AERO lives.
- Make sure the VELO is on OP Mainnet. Aero’s hub said VELO on other chains should have been bridged back by October 15.
- Keep a little ETH on OP Mainnet for the network fee.
- Use the Upgrade option and confirm. The upgrade cannot be reversed.
When I checked Aero’s hub on October 30, 2026, I found that there is no set deadline to upgrade, but legacy front ends may be shut down later. Waiting has no clear upside.
Fake “migration” sites are the obvious risk with any token swap. A real upgrade never needs your seed phrase.
What happens to locked veVELO?
Locked veVELO and veAERO positions upgrade into sAERO (staked AERO), with the remaining lock time carried over and rounded up to the next full week, according to Aero’s upgrade hub.
| Position | Becomes | Detail from Aero’s hub |
|---|---|---|
| Liquid VELO | AERO | About 0.044 AERO per VELO |
| Liquid AERO | AERO | 1:1 |
| veVELO lock | sAERO | Lock time carried over, rounded up to a full week |
| Permanent lock | sAERO | Set to the Maximum Stake Duration |
| veNFT in a Relay | Must be withdrawn first | Hub asked for withdrawal by October 20 |
The upgrade flow claims rewards and resets votes first. The old veNFT ID is retired and a new sAERO position is issued. veVELO upgrades on OP Mainnet, the sAERO arrives on Base, and a cross-chain messaging fee is paid in ETH on OP Mainnet.
Which dates matter, in one list?
The VELO to AERO switch has one past launch date and three upcoming Coinbase dates, all in 2026.
| Date (2026) | What happens | Source |
|---|---|---|
| Oct 22, 00:00 UTC | Aero launches; upgrade portals open | Aero upgrade hub |
| Before Oct 31 | Lisk deposit withdrawals, per Aero’s hub | Aero upgrade hub |
| Nov 2 | Coinbase disables VELO trading; sends and receives pause | Coinbase status |
| Nov 4 | Coinbase retail sends and receives return; new AERO only | Coinbase status |
| Nov 6 | New AERO enabled on Prime Vault | Coinbase Prime status |
If VELO is on an exchange other than Coinbase, its timing will differ. Aero’s hub says each exchange sets its own upgrade process and timeline.
The same pattern showed up with Coinbase Will Convert USDT, DAI and PAXG to USDC for EEA: Coinbase announces, pauses transfers, converts, then stops accepting the old token.
Tips
- Screenshot your VELO balance on November 1 so you can match it against the AERO credited later.
- Do not send any AERO or VELO to Coinbase between November 2 and 4.
- Prime clients: move Vault balances to Prime Trading before November 2.
- Self-custody: keep a small ETH balance on OP Mainnet for the upgrade fee.
Warnings
- Legacy AERO sent to Coinbase after the migration may not be recoverable, per Coinbase.
- The self-custody upgrade cannot be reversed.
- Nobody legitimate will ask for your seed phrase to migrate tokens.
- Prices in the table are a snapshot from 00:13 UTC on October 30, 2026 and will have moved.
FAQ
Do I have to sell VELO on Coinbase before November 2, 2026?
No. Coinbase says it will convert VELO held on the platform to the new AERO at about 0.044 AERO per VELO with no conversion fee. Selling is only needed if you want out of the token entirely rather than holding AERO.
Is there a deadline to upgrade VELO held in my own wallet?
Aero’s upgrade hub says there is no set deadline to upgrade, but legacy front ends may be shut down later and the upgrade cannot be reversed. Upgrading sooner avoids depending on an old website that may go offline.
Is the VELO to AERO conversion a taxable event?
It may be. Coinbase’s own notice says automatic VELO conversion may have tax consequences and tells users to consult a local tax professional. Keep a record of the VELO amount, the AERO received and the date.
Sources
- Coinbase Status: Aerodrome Finance (AERO) and Velodrome Finance (VELO) migration (October 28, 2026)
- Coinbase Prime Status: AERO and VELO migration (October 28, 2026)
- Aero: Upgrade and Launch Hub
- CoinGecko: Velodrome Finance price data
Next step: check which of the three places your VELO sits in today, then follow only that answer before Sunday, November 1 ends. For a similar exchange-side token event, see Bitcoin ECX Fork October 31: Will Your Exchange Credit It?.
Fact-checked against Coinbase’s status notices and Aero’s upgrade hub as of October 30, 2026. Not investment or tax advice.
๐ Related guides
