Aerodrome Finance

Aerodrome

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Aerodrome - Financials

Aerodrome: Emissions to Pools

Grouped by the type of pair

Aerodrome: Fees from Slipstream Pools

Total number of slipstream pools earning above revenue thresholds

Aerodrome: Number of Slipstream Pools by Daily Revenue Threshold

Aerodrome: Fees from V1 Pools

Stacked by source: trading fees routed to voters from v1 pools, the same from Slipstream pools, and external incentives.

Fees reach voters through **FeesVotingReward**, which receives what staked liquidity providers relinquish plus the unstaked fee charged on Slipstream positions that are not staked. Incentives reach voters through **BribeVotingReward**, funded by outside depositors. Both are read from *NotifyReward* events and attributed to the epoch in which the reward was notified.

A reward notified in one epoch becomes claimable only in the next, so each amount is valued at the median daily price of its reward token over that following epoch.

Voter fees by pool engine, and external incentives, per epoch

Aerodrome: Revenue

The ratio view divides an epoch's gauge emissions by the voter revenue of the epoch before it, on the basis that voters direct emissions using income they have already observed. The nominal view shows the same comparison in dollars.

Emissions are the AERO approved to the **Voter** in the **Minter** *Mint* event. Voter revenue is trading fees plus external incentives, read from *NotifyReward* events on the **FeesVotingReward** and **BribeVotingReward** contracts.

Emissions are valued at the median daily AERO price over the epoch they stream through. Each reward is valued at the median daily price of its reward token over the epoch in which it becomes claimable.

Emissions measured against the previous epoch's voter revenue, as a multiple or in dollars

Aerodrome: Emissions-to-Revenue

Voter revenue for the epoch minus the dollar value of AERO emitted to gauges in the same epoch. Nothing is deducted for rebases, new locks or buybacks.

Revenue is trading fees plus external incentives, taken from *NotifyReward* events on the **FeesVotingReward** and **BribeVotingReward** contracts. Emissions are the AERO approved to the **Voter** in the **Minter** *Mint* event.

Revenue is valued at the median daily price of each reward token over the epoch in which it becomes claimable. Emissions are valued at the median daily AERO price over the epoch itself.

Voter revenue less gauge emissions, per epoch

Aerodrome: Net Income

The latest value of the ratio that divides an epoch's gauge emissions by the voter revenue of the epoch before it. The epoch still in progress is excluded, so this reads the most recently completed one.

Emissions are the AERO approved to the **Voter** in the **Minter** *Mint* event. Revenue is trading fees plus external incentives, read from *NotifyReward* events on the **FeesVotingReward** and **BribeVotingReward** contracts.

Emissions are valued at the median daily AERO price over the epoch. Each reward is valued at the median daily price of its reward token over the epoch in which it becomes claimable.

Most recently completed epoch

Aerodrome: Emissions-to-Revenue (latest)

Two measures side by side. Net income subtracts the full dollar value of gauge emissions from voter revenue. Adjusted net income subtracts only what reached the open market.

The adjustment removes three things: the rebase transferred to the **RewardsDistributor**, AERO newly locked through **VotingEscrow** *Deposit* events weighted by how much of the four year maximum each lock runs for, and AERO bought back.

Revenue is valued at the median daily price of each reward token over the epoch in which it becomes claimable. Emissions are valued at the median daily AERO price over the epoch they stream through.

Voter revenue against gauge emissions, and against the emissions that reached the market

Aerodrome: Net Income vs Adjusted Net Income

Trading fees routed to voters, summed over the four most recently completed epochs. External incentives are not included, and the epoch still in progress is excluded.

The figure comes from *NotifyReward* events on the **FeesVotingReward** contracts, which receive what staked liquidity providers relinquish plus the unstaked fee charged on Slipstream positions that are not staked.

Each epoch's fees are valued at the median daily price of the reward token over the epoch in which they become claimable.

Trailing four completed epochs, about 28 days

Aerodrome: Revenue (latest)

A statement view of volume, fees, revenue, emissions and market share, one column per epoch.

Volume and gross trading fees are summed from swap events across v1 and Slipstream pools, where gross fees are the whole fee the swap generated rather than the part that reaches voters. Base share divides Aerodrome volume by all spot DEX volume on Base. The L1 Tokens line covers pairs whose tokens are native to another chain, plus native stablecoin pairs.

Voter fees and incentives come from *NotifyReward* events on the **FeesVotingReward** and **BribeVotingReward** contracts. Emissions are the AERO approved to the **Voter** in the **Minter** *Mint* event.

Rewards are valued at the median daily price of each reward token over the epoch in which it becomes claimable. Emissions are valued at the median daily AERO price over the epoch itself.

One column per epoch, the 19 most recently settled

Aerodrome: Financials Overview

AERO taken off the market each epoch, split by source. The chart opens as a running total, so switch the transform to see per epoch flows.

- **Momentum Fund / PGF**: AERO received by a Foundation wallet in a transaction where that wallet also sent USDC.
- **Foundation Rewards**: AERO claimed through *ClaimRewards* by Foundation wallets.
- **veAERO Maxi** and **Project Relays**: AERO leaving relay contracts as they compound voting rewards. Relays the Foundation runs are reported under their own category rather than counted a second time.
- **Flight School**: AERO the Flight School wallet locked for participants through **VotingEscrow** *Deposit* events. The weekly deposit into the Flight School veNFT is that relay's rebase and is not counted here.

The USD view values each amount at the median daily AERO price over the epoch.

AERO taken off the market each epoch by source. Opens as a running total

Aerodrome: Buybacks

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