Connect with us

Hi, what are you looking for?

Economy

Derivatives Trading Protocol Aevo To Launch Native Token – Airdrop Confirmed

Derivatives trading protocol Aevo has announced that it is set to launch its native Aevo token.

In an announcement published on January 31st, the project revealed that it plans to distribute a portion of the supply to early adopters through an Aevo token airdrop.

Today, we are pleased to announce more details about $AEVO, Aevo’s first Farming Program, and Aevo Airdrop. pic.twitter.com/loG8V2ZAya

— Aevo (@aevoxyz) January 31, 2024

The protocol is also set to launch a “farming program” in the next few days, with rewards from the program being distributed in the form of Aevo tokens.

“We will be airdropping Aevo to early adopters of the Aevo exchange and will be launching our first farming program over the coming weeks,” the announcement read. “To be clear, all users of Aevo up to this point who have done volume will be eligible for Aevo.”

Aevo Token Airdrop Comes With Farming Program


The primary criteria for the Farming Program will revolve around volumes, fees, and loyalty exhibited on the platform, with loyalty being based on how much a user uses Aevo.

There will also be a “Farming Boost” which will act as a multiplier on the rewards earned. This multiplier is influenced by the aforementioned criteria as well.

Upon the conclusion of the Farming Program, every user on Aevo Exchange will have the opportunity to claim the amount of Aevo tokens they earned during this period, in addition to any previously accrued earnings. The DAO will also provide initial liquidity for the Aevo token.

The team is currently conducting audits for both the Aevo token contract and a conversion smart contract between its token and Ribbon Finance’s native token. As a result of delays in meeting the initial deadlines, there is a proposal to shorten the conversion window for the $RBN – $AEVO conversion contract. However, this adjustment is still subject to approval through a governance proposal.

Aevo and Ribbon Finance


Aevo was originally part of the DeFi project Ribbon Finance up until June 2023, when Ribbon DAO holders voted in favor of folding Ribbon Finance into Aevo.

Aevo utilizes a Layer 2 optimistic rollup constructed with the Conduit rollup platform. It intends to leverage Celestia for data availability, ensuring low transaction fees and creating opportunities for other protocols to establish their presence.

In 2022, Ribbon Finance gained prominence as a significant DeFi protocol, particularly in the decentralized options market. Aevo was developed as an extension of Ribbon Finance, with a primary focus on scaling decentralized options through its proprietary Layer 2 appchain. Initially featuring options, Aevo later expanded its offerings to include perpetuals.

The post Derivatives Trading Protocol Aevo To Launch Native Token – Airdrop Confirmed appeared first on Cryptonews.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

Get your daily, bite-sized digest of blockchain and crypto news – investigating the stories flying under the radar of today’s news. In today’s crypto...

Economy

The amount of Bitcoin (BTC) held on Coinbase has plummeted by almost $1 billion worth of assets as whales move their holdings. New data...

Economy

Mumbai, the bustling financial hub of India, has introduced a metaverse initiative aimed at showcasing its latest and upcoming city-wide infrastructure megaprojects. Dubbed the Mumbai...

Economy

BlackRock, the world’s largest asset manager, has intensified its media advertising campaign for its recently launched iShares spot Bitcoin exchange-traded fund (ETF), framing the...

Economy

In an exclusive, gaming-focused interview with Cryptonews, the BLOCKLORDS game CEO David Johansson talked about the indestructible link between crypto and gaming. He told...

Economy

A recent study by a team of researchers from Europe and Asia explored the possibility of predicting positive outcomes in crypto market trading using...

You May Also Like

Financial Advisors

[#item_full_content]

Financial Advisors

[#item_full_content]

Financial Advisors

[#item_full_content]

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Respect Investment. All Rights Reserved.