About this Chart

AERO holders can lock their tokens for up to 4 years in exchange for veAERO — vote-escrowed positions that grant governance power and a share of protocol revenue. The lock rate is the percentage of total AERO supply currently committed to these positions. A higher lock rate means less AERO in circulation, more concentrated governance, and stronger alignment between token holders and protocol outcomes.

The right axis shows the week-over-week change in percentage points. This is a more honest signal than it first appears: because new AERO is minted every epoch through emissions, the lock rate can fall even when more tokens are being locked in absolute terms. A positive bar means locking activity outpaced emissions that week. A negative bar means the opposite — inflation diluted the ratio faster than new locks could offset it.