Aero AERO

Payout off peakRank#14▲1Score50

Paid to holders this week: 20% of the best week in 90 days ($1.8M against $9.4M), while revenue −6% over 30 days. Also: holders revenue goes to vote lockers, not a buyback.

Dexs, Arc, OP Mainnet, Arbitrum +13, 192 days of data

Active signals 1

Multiple below mediansince Oct 30
Multiple 8.7×, below the 19.5× median of Dexs (13 tokens).

Market cap

$372.0M

price $0.515 · 7d −18.9% · 30d −41.3%

FDV $1.04B (2.8× market cap)

source defillama

Counted per year

$43.0M

holders revenue of the last 30 days, $7.4M, × 365 ÷ 30, × type factor 0.47835 (payouts to vote lockers count 48%)

ve / bribesbuyback share 96%

Pays out 24% of its market cap a year, using 96¢ of every $1 it earns.

Not a buyback: counts for 48% in the multiple (type factor 0.47835), so the denominator is $43.0M instead of $89.8M.

Multiple

8.7×

peer median 19.5× (Dexs, 13 tokens), against 8.7× here

Run-rate

8.1×

last 7 days $1.8M × 52 × 0.48 (type factor) = $45.7M a year

last week's payout in line with the 30-day pace

What we checked

Valuation
Multiple 8.7× (type factor 0.47835: payouts to vote lockers count 48%), 2.3× cheaper than its Dexs peers (median 19.5×, 13 tokens). The group's largest earner Uniswap trades at 37.3×: 4.3× cheaper per dollar returned to holders. On total revenue: 4.0×, 4.2× cheaper than the revenue peer median.
Distribution
ve / bribes: Includes bribes and vote incentives from third parties paid to vote-escrow lockers; no buy pressure on the token. Holders got $7.4M of $7.7M revenue in 30 days → buyback share 96%. DefiLlama: “Swap Fees To Voters: Swap fees dfistributed to VELO token holders.”
Sustainability
Holders were paid on 30 of 30 days (100%); largest single day 6% of the month's holders revenue; paid to holders this week: 20% of the best week in 90 days (more than half below peak). Revenue 0% over 7 days and −6% over 30 days, price −41% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

Payout >50% below peakthis week's holders revenue is 20% of its best week in the last 90 days ($9.4M)

How the buyback really works

Not researched yet. Everything above comes from DefiLlama and market data only.

Holders revenue / revenue (30d): $7.4M / $7.7M; last 30 closed days
To holders: Pays out 24% of its market cap a year
FDV / dilution: $1.04B / 2.8×; FDV ÷ market cap
Price 7d / 30d: −18.9% / −41.3%
Revenue growth 7d / 30d: 0% / −6%; versus the period before
Divergence: 0.00; revenue growth minus price growth, 30d
DEX liquidity: $8.3M; DexScreener, representative pools
24h volume: $25.7M; all markets, CoinGecko
Unlocks 30d: —; no unlock schedule for this token
Revenue multiple: 4.0×; market cap ÷ revenue per year
Fee multiple: 3.0×; market cap ÷ fees per year
Distance to peak: 20%; this week ÷ best week of 90 days
Data since: May 4; first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)▲ ▼ signal days (history below)

Multiple over time

today 8.7× (scored) · peer median 19.5×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

Signal history of this token: date, type, price at the signal, price after 7 and 30 days, change since the signal and the outcome
Date	Signal	Price then	After 7d	After 30d	Since	Outcome
October 31, 2026	Sell signalvoided Nov 1: rule change of 31 Oct 2026: it would not open under the current rules	$0.637	−3%	—	−19%	not counted
October 31, 2026	Multiple below medianactive	$0.64	−3%	—	−20%	30-day check: day 11
October 31, 2026	New protocol with revenuevoided Oct 31: the revenue comes from a new part of a protocol with 180 days of history, not from a new protocol	$0.64	−3%	—	−20%	not counted

Versus peers

Dexs · 13 tokens · median multiple 19.5× · Uniswap is valued 10.0× higher. Per dollar that counts for holders, Aero is 4.3× cheaper.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
Token	Distribution	Multiple	Revenue multiple	Buyback share	To holders 30d	Market cap	Rev. growth 30d
Pharaoh Exchange	ve / bribes	0.3×	0.2×	100%	$1.3M	$2.6M	−52%
RamsesX	Mixed	0.7×	0.5×	97%	$368k	$2.2M	+8%
nest	Distribution	0.8×	0.4×	100%	$869k	$4.4M	+32%
up	ve / bribes	2.0×	1.0×	100%	$313k	$3.9M	−68%
Chainflip	Buyback + burn	5.4×	5.4×	100%	$520k	$34.4M	+59%
Aerothis token	ve / bribes	8.7×	4.0×	96%	$7.4M	$372.0M	−6%
PancakeSwap	Buyback + burn	19.5×	12.8×	65%	$2.4M	$563.6M	−29%
Raydium	Buyback	27.1×	16.8×	62%	$1.3M	$425.4M	−65%
Curve Finance	ve / bribes	29.3×	11.1×	94%	$2.6M	$374.4M	+44%
Uniswapleader	Buyback + burn	37.3×	37.3×	100%	$8.2M	$3.71B	−20%
Orca	Buyback	47.8×	7.9×	16%	$130k	$75.6M	−36%
Aster	Buyback + burn	50.2×	∞	—	$2.8M	$1.69B	—
Meteora	Distribution	180×	5.2×	18%	$458k	$161.9M	−60%

Score build-up50 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

50of 100#14▲1top 26%

Valuation 29.7Momentum 12.3Divergence 0.0Quality 13.3penalties −5= 50.3

Valuation35%

85Valuation 84.9: HR half 69.8 (multiple 8.66×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 100.0 (revenue peer value 4.22×; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.

Momentum25%capped

49Momentum 49.1: m = 0.5·g7 0.004 + 0.3·(ln(day jump 1.00) clamped ±1.5 = −0.004) + 0.2·g30 −0.066 = −0.012; 0 at ≤−0.7, 50 at 0, 100 at ≥1.1.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.

Divergence20%capped

0Divergence 0.0: d = g30 − p30 = 0.000; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.

Quality20%

67Quality 66.7: mean of days HR>0 100% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 6% of HR30 → 100.0 (0 at ≥60%, 100 at ≤15%), distance to peak 0.20 → 0.0 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

Penalty −5 (dilution_above_2): dilution ratio 2.79 above 2.

HR7 is below 50% of its 90-day peak: momentum and divergence are capped at 50. This is not a penalty; the distance already counts in quality.

Penalties−5

−5Dilution ratio above 2dilution ratio 2.79 above 2

9 rules not applied, 3 wait for research data.

Where the numbers come from

Revenue source: 7 active children; DefiLlama adapter per child
Price and market cap: defillama / defillama; latest fetch
Scored on: November 11, 2026; as-of date of the last compute run
On-chain verified: not yet; not checked yet

Protocols behind this token7 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

Velodrome V1
Dexs · OP Mainnet
type ve-distribution · source label
“Swap Fees To Voters: Swap fees dfistributed to VELO token holders.”
Swap fees dfistributed to VELO token holders.
Swap Fees To Voters
Swap fees dfistributed to VELO token holders.
adapter on GitHub ↗
Velodrome V2
Dexs · OP Mainnet, Fraxtal, Mode, Lisk, BOB, Unichain, Soneium, Ink, Swellchain, Celo
type ve-distribution · source label
“Staked-LP Swap Fees: Staked-LP share of swap fees, forwarded to veVELO voters until the gauges last distributed fees ahead of the Aero upgrade.”
Swap fees earned by liquidity staked in gauges until the gauges last distributed fees ahead of the Aero upgrade (2026-10-15 on Optimism and Ink, earlier on the other chains), plus bribes until voting ended on 2026-10-22, all paid to veVELO voters.
Staked-LP Swap Fees
Staked-LP share of swap fees, forwarded to veVELO voters until the gauges last distributed fees ahead of the Aero upgrade.
External Bribes Revenue
External incentives deposited by third parties, claimable by veVELO voters until voting ended on 2026-10-22.
adapter on GitHub ↗
Aerodrome V1
Dexs · Base
type ve-distribution · source label
“Staked-LP Fees And Unstaked-LP Rake: Swap fees earned by liquidity staked in gauges, paid to veAERO voters until the last fee distribution on 2026-10-15.”
Swap fees earned by liquidity staked in gauges until the gauges last distributed fees on 2026-10-15, plus bribes until voting ended on 2026-10-22, all paid to veAERO voters.
External Bribes Revenue
Bribes paid to veAERO voters, until voting ended on 2026-10-22.
Staked-LP Fees And Unstaked-LP Rake
Swap fees earned by liquidity staked in gauges, paid to veAERO voters until the last fee distribution on 2026-10-15.
adapter on GitHub ↗
Velodrome V3
Dexs · OP Mainnet, Lisk, Mode, Fraxtal, Ink, Soneium, Swellchain, Unichain, Celo
type ve-distribution · source label
“Swap Fees To Voters: Fees earned by gauge-staked liquidity plus the rake on unstaked liquidity, both claimable by voters until the gauges last distributed fees ahead of the Aero upgrade.”
The share of swap fees that went to veVELO voters until the gauges last distributed fees ahead of the Aero upgrade (2026-10-15 on Optimism and Ink, earlier on the other chains): everything earned by liquidity staked in a gauge, plus the rake taken from unstaked liquidity.
Swap Fees To Voters
Fees earned by gauge-staked liquidity plus the rake on unstaked liquidity, both claimable by voters until the gauges last distributed fees ahead of the Aero upgrade.
adapter on GitHub ↗
Aerodrome Slipstream
Dexs · Base
type ve-distribution · source label
“Staked-LP Fees And Unstaked-LP Rake: Swap fees earned by liquidity staked in gauges plus the cut taken from unstaked liquidity, paid to veAERO voters until the last fee distribution on 2026-10-15.”
Swap fees earned by liquidity staked in gauges plus the cut taken from unstaked liquidity until the gauges last distributed fees on 2026-10-15, plus bribes until voting ended on 2026-10-22, all paid to veAERO voters.
External Bribes Revenue
Bribes paid to veAERO voters, until voting ended on 2026-10-22.
Staked-LP Fees And Unstaked-LP Rake
Swap fees earned by liquidity staked in gauges plus the cut taken from unstaked liquidity, paid to veAERO voters until the last fee distribution on 2026-10-15.
adapter on GitHub ↗
Aero Slipstream
Dexs · Arc, OP Mainnet, Arbitrum, Ethereum, Robinhood Chain, Ink, Base, Elysium
type ve-distribution · source label
“External Bribes Revenue: Bribes paid to the protocol, distributed to sAERO holders allocating to the pool.”
Swap fees earned by AERO-earning liquidity, the protocol share of fee-earning liquidity fees and bribes, all distributed to sAERO holders.
External Bribes Revenue
Bribes paid to the protocol, distributed to sAERO holders allocating to the pool.
Swap Fees To sAERO Holders
Swap fees earned by AERO-earning liquidity plus the protocol share of fee-earning liquidity fees, distributed to sAERO holders.
adapter on GitHub ↗
Aero Basic
Dexs · Ink, Arc, Ethereum, Arbitrum, Robinhood Chain, OP Mainnet, Base, Elysium
type ve-distribution · source label
“External Bribes Revenue: Bribes paid to the protocol, distributed to sAERO holders allocating to the pool.”
Swap fees earned by AERO-earning liquidity and bribes, all distributed to sAERO holders.
External Bribes Revenue
Bribes paid to the protocol, distributed to sAERO holders allocating to the pool.
Swap Fees To sAERO Holders
Swap fees earned by AERO-earning liquidity, distributed to sAERO holders.
adapter on GitHub ↗