Andy

Aerodrome will announce new planned changes to the project on November 12. After piecing together public hints, I believe AERO offers an asymmetric long opportunity ahead of what the team will likely try to turn into a dominant DEX across a majority of EVM chains—positioning AERO as an index on the growth of decentralized exchanges.

TLDR – Why AERO offers an asymmetric opportunity

Key Takeaways

Metaplex dominates Solana’s token issuance infrastructure, earning fees from every mint of memecoins and other tokens—this revenue directly fuels aggressive MPLX buybacks.

• Current MPLX valuation appears deeply discounted, trading at 4× annual revenue / 8× net profit, with a circulating market cap of ~$80M.
• Two major catalysts could reignite revenue growth: the launch of the Solana Seeker phone, incentivizing retail users to create new tokens, and intensifying competition among memecoin launchpads (“Launchpad Wars”).
• Bear, base, and bull scenarios suggest strong asymmetry, with potential MPLX fair value ranging from $0.08 (bear) to $0.70 (bull) per token, compared to the current ~$0.10 price.