I’ve been an $AERO enjoyer for a while now. It finally seems to be getting its moment in the sun again, but short-term pumps and people yelling on twitter can distort the timeline’s view of what’s actually happening here. I hope this post helps some people look beyond the last 24hrs of green candles and see the larger picture. Facts: -Aerodrome is the leading DEX on Base. Its sister protocol, Velodrome, built the same model on Optimism. -The model is different from most DEXs: ALL protocol revenue flows back to participants in the ecosystem rather than simply accumulating to a company or treasury. And wherever the “dromes” have operated, they’ve dominated. There isn't a better word to describe their performance where they operate. Currently: -Aerodrome: 61% of Base DEX volume -Velodrome: 56% of Optimism DEX volume On Oct. 21, that same model expands to Ethereum Mainnet, Robinhood Chain, Arbitrum and several others. Let’s NOT assume they repeat 50-60% market share. Let's cut it in half... Assume 30%. Here’s the size of the pie today: Ethereum ~$41.2B/month of DEX volume 30% share = ~$12.4B/month through AERO ≈ $183M/year in gross fees Robinhood Chain ~$52.1B/month 30% = ~$15.6B/month ≈ $231M/year in gross fees Arbitrum ~$6.2B/month 30% = ~$1.85B/month ≈ $27M/year in gross fees Combined: ~$358B/year of additional AERO-routed volume ~$441M/year of gross fees (again, this is ALL passed to aero token lockers) No assumption that tokenized stocks explode. No assumption that more of global finance moves onchain. -No bull-market volume expansion. -No Arc (I'm unsure what this one will become.. could be big, might be noting). -No Ink (also unsure what this can become). Currently, the existing Base/OP business generates roughly $17.5m per month in fees. At 30% share, Ethereum alone would add roughly that much again. Robinhood Chain alone would add even more. Do I think Aero will do better than 30% on these chains? Probably yes. But it doesn't need to, the pie is big enough already. Good job on coms the last couple of weeks by the team. I know they've been dragged heavily on twitter since Novembers incredibly impressive event... now it's time to have a smooth launch and gobble up some market share. Rock n roll.