Binance has set separate end dates for its Velodrome Finance (VELODROME) contract and spot market as Velodrome and Aerodrome prepare to merge into Aero.
Binance will block new VELODROMEUSDT positions at 4:30 a.m. ET (08:30 UTC) Oct. 28. At 5 a.m. ET (09:00 UTC), it plans to close and settle outstanding positions before removing the contract.
Binance plans to end VELODROME/USDT spot trading at 10 p.m. ET Nov. 2 (03:00 UTC Nov. 3), canceling open orders. Half an hour later, at 10:30 p.m. ET (03:30 UTC Nov. 3), the exchange will pause deposits and withdrawals for VELODROME and Aerodrome (AERO). After the merger, Binance will no longer accept VELODROME deposits or withdrawals. It plans a separate update on when AERO deposit and withdrawal services resume.
Each VELODROME converts to 0.044 AERO; existing AERO tokens convert one-for-one into the new AERO. The merger is projected to increase AERO’s total supply from two billion to 2.12 billion tokens and its circulating supply from one billion to 1.07 billion.
The Aero merger is due to begin at 8 p.m. ET Wednesday, Oct. 21 (00:00 UTC Oct. 22), before Binance’s October and November trading deadlines.
