In this article we will see how to participate in the airdrop of the Aevo platform, which is expected to release a token in the first quarter of 2024.
This is a decentralized options and futures exchange where experienced traders can rely on high performance and top-level functionality.
Built by the Ribbon Finance team, who have had direct experience with community incentives in the past, Aevo promises to offer a very interesting airdrop to its early users.
Among the project’s financiers we find successful VCs such as Paradigm, DragonFly Capital, and Coinbase Ventures.
Let’s see below how Aevo works and how to become eligible for the long-awaited airdrop.
What is the Aevo trading platform? new airdrop coming?
Aevo is a high-performance decentralized trading platform, based on an order book and tailored to the needs of professional users in the digital asset exchange market.
The protocol works on its own rollup EVM, called Aevo Chain, which has been built with a focus on high scalability of transactions and security of the infrastructure.
This latter, technically, represents an optimistic layer-2 zk of Ethereum heritage that relies on the OP stack.
The Block Explorer for Aevo Chain can be found here.
Behind the Aevo project there are solid and internationally renowned companies such as Coinbase, Kraken, and Goldman Sachs, as well as academic institutions such as Stanford, MIT, and Cornell.
Since its birth in 2020, Aevo has processed a volume of 10 billion dollars, achieving an enviable reputation within the crypto landscape.
However, Aevo is still little known: it has a TVL of approximately 28.6 million dollars and a user base of about 20,000 individuals.
From mid-November onwards, however, the platform has seen a surge in on-chain metrics, driven mainly by the team’s confirmation of an upcoming airdrop for their community.
In this regard, it is important to underline that the founders of Aevo are the same as Ribbon Finance, a famous DeFi yield farming protocol that in 2021 carried out one of the largest airdrops in history, to the point of changing the lives of many of its early users.
Some Ribbon users have even received 100,000 dollars in airdrop in the past.
Aevo focuses entirely on professionalism and efficiency in its services and aims to become the decentralized exchange of reference for futures and options trading.
As for the options, we find only two trading pairs, BTC-USD and ETH-USD, while on the futures front there is much more choice and also several memecoins appear.
There is actually another tradable category, that of “pre-launch tokens” where speculation is made on the future value of products that have yet to be launched, such as BLAST and JUP.
To expand its ecosystem, the Aevo team has just launched its own stablecoin, aeUSD (composed of 5% USDC and 95% sDAI), which serves as a collateral asset that can generate a passive annualized yield of 4.75% while using the same resource for leveraged trading up to 20x.
On one hand, aeUSD is used to form equity for exchange operations, on the other hand it represents a form of yield.
Parallel to the launch of the stablecoin on the market, the same platform team has confirmed that there will be an airdrop for those who provide liquidity to the protocol and support the growth of the infrastructure by executing trades.
in particular, up to 16% of the supply of the new token AEVO will be used for the airdrop to the community.
Considering the founders’ previous experience, the high allocation of crypto for user incentives, and the platform’s still limited popularity, we can imagine that this airdrop will be very interesting.
All the steps to get the new $AEVO coin for free
As just mentioned, the airdrop of the decentralized trading platform Aevo could bring satisfaction to users who are eligible to redeem the cryptocurrency coin.
The project has obtained significant funding from venture capital such as Paradigm, DragonFly, Scalar Capital, Nascent, and Ethereal Ventures, allowing for an airdrop of at least 2000 dollars to each member of the community.
Since the token launch is scheduled for Q1 2024, we need to hurry so that we can be included in the list of lucky users with the highest number of possible cryptographic addresses (be careful not to violate the “anti-sybil rules“).
Moving to the operational level, to obtain the airdrop it is necessary first of all to deposit funds on the platform. The bridge on the Aevo chain does not work like most other Ethereum layer-2s, but uses the Optimism Standard Bridge mechanism.
Simplifying, you can conveniently deposit on L2 starting from the Ethereum, Optimism, and Arbitrum networks.
The waiting time is about 1 minute, the costs are variable and depend on the fees of the various networks while the bridged tokens are USDC (on all 3 networks) and BTC, ETH, USDT (only on Ethereum).
Once this is done, we can move on to trading futures and options: keep in mind that the allocation of the airdrop will most likely depend on the volume you will register on the platform, so the goal is to carry out as many operations as possible.
Before attempting these operations, make sure you have a good understanding of on-chain derivative markets.
All markets are listed under the “trading” category.
Another aspect to consider for the airdrop, as highlighted by the Aevo team itself, is the activity as a liquidity provider.
In order to provide liquidity to the protocol, you need to go to the “Aevo Saving Collateral” section and deposit as many aeUSD as you have, with an APY of 4.75%.
The exchange is able to offer a yield on aeUSD as it deposits the assets into the Dai Savings Rate (DSR) of MakerDao, automatically compounding the interest.
Finally, there is no need to exclude the referral program, present in the “rewards” section, which can guarantee you an important boost in the airdrop if you manage to invite a large number of friends to the platform. For each invited user who deposits and trades cryptocurrencies, you will receive periodic rewards, which depend on the traded volume.