Is Aerodrome V1 Safe?
Risk Grade: B- (32/100)
Aerodrome V1 is rated as moderate risk — some novel mechanisms, generally well-understood.
Aerodrome V1 is a proven DEX on Base with strong market share, but it is entering its sunset phase as the Aero merger proceeds. Current V1 LPs should monitor migration timelines closely. The underlying AMM formulas are battle-tested and low-risk, but single-chain dependency on Base and the migration transition introduce operational uncertainty.
Aerodrome V1 is the original AMM (automated market maker) on Base, the Coinbase-backed Layer 2 chain. It uses simple, battle-tested formulas: constant product pools for regular trading pairs and Curve-style stable pools for pegged assets. AERO token holders can lock tokens as veAERO to vote on emission allocation and earn trading fees. The protocol is the dominant DEX on Base but is being merged with Velodrome (Optimism's top DEX) into a unified cross-chain Aero DEX.
TVL
$114M
Mechanisms
6
Interactions
4
Value Grade
C+
Key Risks for Aerodrome V1 Users
V1 is being deprecated as the Aero merger completes - LPs need to migrate or risk stranded liquidity
Past DNS hijacking attack showed frontend security weaknesses (smart contracts were safe)
Operates only on Base chain - if Base goes down, all trading and withdrawals freeze
Bribery markets can redirect AERO emissions to low-utility pools, reducing liquidity quality
Top Risk Factors
- •Aerodrome V1 is the original AMM using Uniswap V2 and Curve stableswap formulas, now being deprecated in favor of the merged Aero cross-chain DEX. Legacy V1 pools may receive less security attention.
- •DNS hijacking attack compromised Aerodrome frontend domains, exposing users to phishing. While smart contracts were unaffected, frontend dependency is a real attack surface for this protocol.
- •Planned Q2 2026 merger with Velodrome into unified Aero creates migration risk. V1 liquidity providers must migrate to the new system or face potential liquidity fragmentation.
Risk Score Breakdown
Aerodrome V1's highest risk area is Vitality Risk (9/10). Here's how each dimension contributes to the overall 32/100 score:
Read the Full Aerodrome V1 Risk Report
This protocol has 2 collapse scenarios. 1 high-severity interaction risks identified. See the full mechanism classification, interaction matrix, and deep-dive recommendations.
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