Coinbase prepares AERO and VELO conversion from November 2, with transfers paused

Maintenance scheduled for Monday

Coinbase plans to begin migrating Aerodrome Finance and Velodrome Finance to the new Aero token on November 2, 2026. Its official notice, published October 28, sets a window from midnight November 2 to midnight November 4 in U.S. Pacific time. It explicitly specifies PST, corresponding to 8 a.m. UTC, or 9 a.m. in Paris, at both ends of the period. When checked before that window began, the maintenance was still listed as scheduled, without confirmation of a completed conversion.

The announced scope covers Coinbase’s website and mobile app. Its migration help page confirms support for AERO and VELO balances held on the platform and says no action is required for their automatic conversion. That statement is not a general procedure for tokens held in a personal wallet: the custodian, network, and applicable schedule must be distinguished before instructions are applied to another situation.

Two ratios and different temporary service restrictions

For AERO balances, Coinbase announces one new token for each old token. For VELO, the stated ratio is approximately 0.044 AERO per VELO. That qualification matters: the notice does not present the two conversions as equivalent. It announces no transaction fees for the conversion itself. This is not a blanket commitment concerning fees on other operations or the future value of the assets received.

AERO and VELO sends and receives are expected to be temporarily disabled during migration and re-enabled November 4 under the published schedule. Coinbase asks users not to deposit or transfer those tokens during that period. Trading follows different rules: VELO trading is due to be disabled November 2, while AERO trading is not expected to be affected. A transfer pause therefore should not be confused with an identical halt to every service.

Legacy tokens will no longer be accepted after the switch

After migration, Coinbase says it will support deposits and withdrawals only for the new AERO token. The company warns that sending legacy AERO to a Coinbase deposit address after completion could result in unrecoverable funds. An asset’s name or an old address is therefore insufficient to establish compatibility after a change. The warning concerns this particular migration and does not establish that any transfer already made encountered a problem.

The notice adds that automatic VELO conversion may have tax consequences, depending on the circumstances. It provides neither individual conversion results nor confirmation of an early reopening. The next steps to verify during the day are whether maintenance actually moves to in progress, then completion and the announced restoration of transfers. November 2 and 4 remain a service schedule communicated by Coinbase, rather than advance proof that every account will have been processed at a specific hour.