Binance Launchpool Unveils Aevo (AEVO) as 48th Project, Supports BNB and FDUSD Farming
In Brief
Binance Launchpool unveiled its 48th project Aevo (AEVO), a decentralized derivative trading platform for options and perpetual trading.
Binance Launchpool platform introduced its 48th project — Aevo (AEVO), a decentralized derivative trading platform, focused on options and perpetual trading.
Aevo is built on the Aevo Layer 2 an Ethereum rollup based on the open-source development framework OP Stack by Optimism. The Aevo Layer 2 utilizes Conduit to manage its infrastructure and Celestia for Data Availability, aiming to lower the cost for users engaging with the chain.
Aiming to develop a decentralized finance (DeFi) super-app starting with derivatives trading, the project recently concluded three funding rounds, securing a total of $16.6 million. The seed round constituted 10% of the total, valuing the project at $18.5 million. The A-round contributed 4.62% to the total with a valuation of $130 million, while the A+ round comprised 3.5% of the total, valuing the project at $250 million.
Binance users will have the opportunity to stake BNB and FDUSD into separate pools to farm AEVO tokens over five days, starting from 2024-03-08 00:00 (UTC). Following this, Binance will officially list AEVO on 2024-03-13 10:00 (UTC) and enable trading with AEVO/BTC, AEVO/USDT, AEVO/BNB, AEVO/FDUSD, and AEVO/TRY trading pairs. For AEVO the application of the Seed Tag rule will be in effect.
Keep track of cryptocurrency distributions in our Airdrops Calendar.
AEVO Token Total Supply and Distribution
Aevo’s native token AEVO functions as a governance token. Aevo also enables users to stake AEVO for reduced trading fees on the exchange and enhanced rewards through its trader reward program. As of March 13, 2024, the maximum supply of AEVO will be 1,000,000,000 tokens, with a circulating supply of 110,000,000 tokens.
Private equity investors will hold an allocation of 18.5% of total supply, while tokens in the Binance Launchpool will account for 4.5%. Market makers will receive 2%, community airdrop gets 3%, and the team is allocated 23%. Additionally, 2.7% is designated for the company treasury, 36% for the DAO treasury, and the remaining 10.3% is allocated to the rest of the RBN tokens in circulation.
AEVO is developed by the team responsible for launching Ribbon Finance (RBN). Consequently, RBN holders will have the option to convert RBN to AEVO at a 1:1 rate, subject to a 2-month lockup period with RBN following the original vesting schedule.
Binance Launchpool’s introduction of Aevo signifies a notable milestone, showcasing the platform’s commitment to fostering innovation within the cryptocurrency ecosystem.
Disclaimer
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
