Aerodrome's Public Goods Fund has acquired and max-locked 155,000 AERO tokens as part of its ongoing programmatic buyback model, according to an announcement on X.
The purchase brings the total amount of AERO tokens bought back and locked across the PGF, Flight School, Relay and other initiatives to nearly 200 million, the protocol said. At current market prices near $0.52 per token, the cumulative locked position represents roughly $104 million in notional value.
Aerodrome is a decentralized exchange and automated market maker built on Base, a Layer 2 blockchain developed by Coinbase. The protocol's buyback efforts are part of a broader capital allocation strategy designed to support the AERO token through programmatic acquisitions rather than discrete, event-driven repurchases.
The mechanism works by deploying protocol revenue and treasury resources into regular token acquisitions that the fund then locks, removing those tokens from circulation. This approach contrasts with traditional buybacks that occur at irregular intervals or in response to specific market conditions.
The 155,000-token tranche represents a continuation of activity that has accelerated since the PGF's establishment. The protocol has structured these buybacks to occur systematically across multiple channels rather than concentrating purchasing power in a single redemption event.
At roughly 200 million AERO locked out of a total supply of 2.29 billion tokens, the buyback efforts have removed approximately 8.7 percent of outstanding tokens from circulation. Aerodrome did not disclose the price paid for the latest tranche or the timeline over which the 200 million total was accumulated.
