AEVO, token of the homonymous decentralized trading platform, has been officially introduced in the Launchpool section of the Binance cryptocurrency exchange, where it can be farmed simply by staking BNB and FDUSD.
Aevo is an innovative platform in the DeFi sector, which develops the concept of high-performance DEX, leveraging the advantages of Ethereum’s zk rollup and an infrastructure based on a stablecoin that acts as collateral for exchanges and simultaneously offers a passive income.
An airdrop could soon arrive on Aevo in parallel with the listing on major exchanges like Binance, with the token being distributed among the first users of the platform.
Below are all the details.
What is the Aevo decentralized trading protocol and what is the purpose of the native token AEVO
Aevo is a next-generation decentralized trading protocol, which offers functionality that differs from the classic world of DEX, focused on the use of liquidity pools and not very efficient for professional traders.
Within this platform we can trade a myriad of tokens in perpetual futures mode with leverage up to 20X, in addition to options and a series of tokens in pre-launch mode (such as BLAST and PARCL) on which to speculate even before they are actually launched on the cryptographic market
Aevo uses the same typical mechanism as CEX, through an off-chain orderbook structure, which takes data from a custom internal oracle to report real-time prices of various assets.
The protocol operates on a proprietary EVM rollup that relies on Op stack, called Aevo chain, developed to improve the aspect of scalability, starting from a solid base like Ethereum’s infrastructure.
To ensure liquidity flow for Aevo users’ exchanges, Aevo leverages the presence of the native stablecoin aeUSD (composed of 5% USDC and 95% sDAI), which acts as collateral asset that can generate a passive annualized yield of 4.75% while using the same resource in leveraged trading.
On one hand, aeUSD is used to form equity for exchange operations, on the other hand it represents a form of yield.
The team in charge of developing the protocol has announced on several occasions that an airdrop will be carried out to reward all early adopters who believed in the project, taking the opportunity to launch the AEVO token through a decentralized distribution.
Being the team behind Aevo, the same team that created the Ribbon Finance protocol (which had one of the largest airdrops in history), we expect that in this case the reward for the community will be very interesting: currently 16% of the supply of the new token is dedicated to the airdrop program.
It is also very interesting to mention the so-called “backers” of the project, with companies like Coinbase, Kraken, and Goldman Sachs having funded the project in recent years.
Since its inception in 2020, Aevo has processed transactions for a derived volume of over 28 billion dollars, establishing itself as one of the most widely used high-performance DEX in the crypto landscape.
Even the TVL, which indicates the sum of capital locked within a protocol, signals a strong increase in funds on Aevo, which have just reached the threshold of 89 million dollars according to the data from DefiLlama.
The AEVO crypto introduced within Binance Launchpool: everything you need to know to farm new coins
Yesterday, the new crypto AEVO was added to the Launchpool section of the Binance cryptocurrency exchange as the 48th project of the initiative, within which users will be able to farm the new resource simply by staking BNB and/or FDUSD
The rewards period for exchange users will start tonight at 01 AM (UTC+1) and will last for 5 days.
In total, 45,000,000 AEVO tokens have been allocated for the Launchpool, which is 4.5% of the maximum supply set at 1 billion AEVO, which will be distributed with a daily flow of 7,200,000 tokens in the BNB pools and 1,800,000 tokens in the FDUSD pools.
So respectively the BNB pool represents 80% of the potentially available resources, while the FDUSD pool represents the remaining 20%. This proportion is based on the market capitalization of the two coins and their popularity within the Binance exchange.
For each user participating in the event, there are farming limits, so for each hour of locked funds, a maximum of 30,000 AEVO can be obtained in the case of staking with BNB and 7,500 AEVO in the case of staking with FUSD.
As in every Launchpool organized by the exchange, participation requires completion of the KYC verification.
At the end of the farming period, AEVO will be launched in the spot trading of the platform with the following trading pairs: AEVO/BTC, AEVO/USDT, AEVO/BNB, AEVO/FDUSD, and AEVO/TRY.
The decentralized trading protocol team has allocated a total initial launch supply of 110,000,000 AEVO (11% of the maximum supply), which will be divided among all exchanges supporting the listing.
The details of the airdrop have not been disclosed: it is not clear whether platform users will be able to redeem their rewards in advance of AEVO’s listing or only at a later time.
If the claim for the airdrop is available immediately, we expect a brief drop in prices in the first hours of token trading, followed by a more neutral trend.
However, in the medium term, the price action of the new currency could become interesting.