Coinbase Completes Token Migration for AERO and VELO, Restores Full Asset Functionality
Cryptocurrency exchange Coinbase has officially announced the completion of the token migration process for Aerodrome Finance (AERO) and Velodrome Finance (VELO). The update involved converting the existing AERO and VELO tokens to a new, unified AERO token standard.
Deposit and Withdrawal Services Resume
Following the technical migration, Coinbase has fully reinstated deposit, withdrawal, and trading services for the new AERO and VELO tokens. Users can now interact with these assets normally within their accounts.
A critical point highlighted by the exchange is that support for the old AERO token has been discontinued. This means:
- Users must not send any old AERO tokens to Coinbase deposit addresses
- Any accidental deposits of the old tokens may not be credited or recoverable
- All trading and holdings should be based on the newly migrated tokens
Important Considerations for Users
Investors holding these assets must clearly distinguish between the old and new token versions. Before initiating any transfers, ensure you are interacting with the post-migration tokens. When depositing from external wallets to Coinbase, double-check the token contract address to prevent loss of funds caused by sending the incorrect version.
This token migration represents a standard technical upgrade coordinated between the projects and the exchange, aimed at optimizing asset structure and functionality. Coinbase's proactive communication and clear warnings are designed to minimize operational risks for users during the transition period.