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Binance Welcomes AEVO (AEVO) as 48th Project on Its Launchpool, BNB Price Jumps
Binance has announced Aevo (AEVO), the 48th project on Binance Launchpool. Aevo is a decentralized derivatives exchange platform focused on options. The platform runs an off-chain orderbook with on-chain settlements, which executes and settles trades via smart contracts.
Currently trading at $421.97, the price of BNB, necessary to farm AEVO, has gone up 2.55% in the last 7 days.
Farming and Staking AEVO on Binance
Binance announced that starting from the 8th of March, at 00:00 UTC, users will be able to farm AEVO tokens by staking their FDUSD and BNB into separate pools. On the 13th, Binance will list AEVO at 10:00 UTC, pairing the token with USDT, BTC, FDUSD, BNB, and TRY for starters. Binance has also announced that AEVO will carry the Seed Tag, which indicates new cryptocurrencies that may not yet have a strong user base or working product. Generally, tokens with the Seed Tag are more volatile compared to others.
According to the official Binance announcement, AEVO has a maximum supply of 1,000,000 tokens, with an initial circulating supply of 11%, which is 110 million. The platform also plans Launchpool token rewards at 4.5% of the maximum token supply, which is 45,000,000 AEVO. FDUSD stakers get up to 20% (9,000,000 AEVO) of the token rewards allocation, while BNB stakers get 80% (36,000,000 AEVO). Farming will last for five days, until the 12th of March, at 23:59 UTC.
To measure the hourly average balances, Binance will repeatedly take snapshots of user balances and total pool balances at different points each hour. This will be used to calculate user rewards, which Binance Launchpool will update each hour. Users can then accumulate their rewards and have them deposited to their spot accounts at any time.
Users can see real-time updates of the annual percentage yield (APY) and total pool balance for each pool. Anyone can stake tokens into either pool, but can only stake one token in one pool at a time. However, users can decide to split their staking, putting some in one pool and the others in another.
Eligibility for Participation
Binance Launchpool allows users to unstake their funds at any time and without notice. Nonetheless, Binance Launchpool will automatically transfer any staked tokens and unclaimed rewards to user spot accounts when each farming period ends. Users should note that participating in AEVO farming on Binance depends on eligibility, which is informed by the jurisdiction of residence. The list of countries that cannot participate includes Canada, Japan, New Zealand, Australia, the Netherlands, Belarus, and the United States of America as well as its territories. Users in non-government-controlled parts of Ukraine are also excluded.
Last month, Binance announced Portal (PORTAL) as the 47th project on Binance Launchpool. The cross-chain gaming platform aims to bring more gamers into Web3 and improve the gaming industry by leaning into decentralized finance (DeFi) and blockchain technology.
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Binance Welcomes AEVO (AEVO) as 48th Project on Its Launchpool, BNB Price Jumps