It’s been half a month since the merger went live, and the BSC version of
$VELO is still selling for $0.0035—about one-seventh of the official price.
On October 21, Aerodrome and Velodrome merged into Aero. Old
$AERO 1 tokens could be exchanged for new
$AERO at a 1:1 ratio;
$VELO 1 tokens could be exchanged for about 0.044 new
$AERO . Locked tokens became sAERO, keeping their remaining lockup period. The official upgrade guidance boils down to three points: tokens in your own wallet must be manually exchanged through the upgrade portal; they won’t convert automatically. xVELO held outside OP Mainnet must first be bridged back to OP Mainnet before it can be exchanged. There’s no deadline, but the old front end could be shut down at any time, and old tokens stopped earning new rewards starting October 22.
Let’s break down the numbers: the new
$AERO is trading at about $0.59 on Binance spot markets. Multiplying by 0.044 means 1 VELO should be worth about $0.026. VELO on OP Mainnet is currently around $0.0263, basically in line with the conversion value—there’s no bargain to be had. But the BSC version is currently around $0.0035, down about 4.9% in 24 hours, with a market cap of about $84.8 million. Its 24-hour volume is about $264,000 across 3,910 trades: 2,027 buys and 1,883 sells. It has about 115,000 holders, and the main VELO/USDC pool holds about $558,000. 10,000 tokens are worth just over $35 at current prices; based on the conversion value, they should be worth $260—only about 13.6% of that value.
Coinbase completed its bulk conversion between November 2 and 4, and VELO trading has also stopped there. Binance announced support for the conversion on October 16. Tokens held on an exchange will be handled according to that exchange’s own arrangements, so you don’t need to do anything yourself.
So this isn’t an invitation to buy the dip—it’s a heads-up for anyone still holding the BSC version. The official upgrade guidance only says that xVELO outside OP Mainnet must be bridged back to OP first. I couldn’t find any definitive public guidance on whether the BSC version is eligible or how to bridge it. First check through the official upgrade portal whether your version can use that route, then decide whether to convert or sell. Don’t just dump it into the pool. And if you’ve already converted, don’t celebrate just yet: the new
$AERO is also down about 8.3% on spot markets today. Converting doesn’t mean the price can’t fall.
Is your VELO held on an exchange or in your own wallet? Let us know in the comments.
This is not investment advice. Alpha projects are high-risk and could go to zero. Old Farmer digs into one Alpha coin every day—follow along, and see you at tomorrow’s ledger.
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