Do AERO emissions pay more per fee on volatile pools than on stable pools?

Whether the liquidity an agent would route through is the liquidity emissions are renting.

Status: OK
Confidence: low
As of: 2026-10-06T16:41:52.390Z
Method: Method
Feed: aerodrome-emission-mix.json

6.4046×

Volatile emissions per fee, relative to stable pools

Stable 0.8775× · routed 4.3729× · volatile 5.6201×.

0.8775× Stable

4.3729× Routed

5.6201× Volatile

Each figure is that class's median emissions per fee-yield. The headline is volatile divided by stable. Shares of fee-yielding pools: stable 5.77%, routed 46.20%, volatile 48.01%. Classes are pair shape, not size.

Method

The same free DefiLlama yields feed as the incentive-efficiency reading, Aerodrome v1 and Slipstream on Base. Emissions per fee-yield is apyReward / apyBase. Pool size cancels, so it is not used to weight anything.

A pool is stable when every symbol leg is on the fiat-stable list, routed when exactly one leg is, and volatile otherwise. The headline is the volatile median divided by the stable median. cbBTC and WETH are not treated as stables.

Method URL /onchain/aerodrome-emission-mix/#method

Sources

DefiLlama yields (free)

Limitations

A pool is stable when every symbol leg is on the fiat-stable list, routed when exactly one leg is, and volatile otherwise. cbBTC and WETH are not stables.
The headline is the volatile median emissions-per-fee divided by the stable median. Pool size cancels inside each ratio and is not used to weight the median.
Each class needs a fee yield. Pools that pay rewards and show no fee yield stay in the other reading.
Vote-bribe versus organic is unmeasured. The free yields feed has no bribe leg.
A mis-tagged symbol moves a pool into the wrong class. That is a limitation, not a correction invented here.

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