Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

Aevo plans airdrop for early adopters of derivatives protocol

The BlockThe Block2024/02/01 14:25
By:The Block

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.


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Stake to earn
CEC, QTLX, GDV and other popular new coins are in hot progress!
Stake now!

You may also like

Critical FED Interest Rate Decision Expected in Bitcoin Today! What Time Will It Be Announced? Here Are the Expectations and Things to Know!

While the FED's interest rate decision is awaited in Bitcoin today, it remains unclear whether the FED will reduce interest rates by 25 basis points or 50 basis points.

Bitcoinsistemi2024/09/18 20:06

Last Minute Interest Rate Announcement from BofA and Two Companies – Here is the Decision They Expected Just Ahead

Analysts from BofA and two other firms shared their latest expectations for the Fed's interest rate decision, which is now just minutes away.

Bitcoinsistemi2024/09/18 20:03

The FED’s Decision is Just Minutes Away: Here is the Decision Time and Expectations According to the Latest Data

The FED's eagerly awaited decision is now just minutes away. So, what are the expectations according to the latest data?

Bitcoinsistemi2024/09/18 20:03