Aevo plans airdrop for early adopters of derivatives protocol
Quick Take Derivatives trading protocol Aevo will release its native token. The token contract was deployed, with plans to reward traders and early adopters.
Derivatives trading protocol Aevo has deployed the smart contract for a native token, with availability anticipated in the coming weeks. The team said it plans to distribute a portion of the supply to early adopters in an airdrop
Eligibility for receiving Aevo tokens extends to users who have engaged with the platform prior to today’s announcement. However, the allocation specifics remain undisclosed.
Aevo intends to reward trading activities separately, targeting users contributing to trading volume on its platform.
The protocol is preparing to launch in the next few days a "farming program" through which it will distribute the rewards in Aevo tokens, according to the team .
"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 project said. "To be clear, all users of Aevo up to this point who have done volume will be eligible for Aevo."
Ribbon Finance’s evolution into Aevo
Originally part of the DeFi project Ribbon Finance RBN -6.51% , which has its own token, Aevo will allow a 1:1 exchange of Ribbon tokens for Aevo tokens once they become available. The developers are doing security audits for both the new token and the migration contract.
The network employs a Layer 2 optimistic rollup created using the Conduit rollup platform. It plans to use Celestia for data availability so transaction fees remain low and open it up for other protocols to build on it.
In 2022, Ribbon Finance emerged as a notable DeFi protocol, especially in the decentralized options market. Aevo was developed as an extension of Ribbon Finance, focusing on scaling decentralized options through its own Layer 2 appchain, which initially offered options and later expanded to include perpetuals.
coin_news.disclaimer
coin_news.may_like
Here’s How Much Bitcoin Trump’s VP Pick JD Vance Owns
Bitcoin ETF Inflows Pause as U.S. Election Uncertainty Rises
Tornado Cash co-founder’s money laundering trial postponed to April 2025
Share link:In this post: On November 1, Judge Katherine Polk Failla rescheduled the next Storm’s trial to April 14, 2025. Storm’s defense has challenged the court’s trial postponement, going as far as filing a mandamus petition with the U.S. Court of Appeals for the Second Circuit. Roman Storm is charged with three counts: conspiracy to commit money laundering, conspiracy to commit sanctions violations, and conspiracy to operate an unlicensed money-transmitting business.
Popular Convenience Store ‘Sheetz’ Starts Accepting Crypto