Key Points
- Binance Labs just announced the investment in Aevo in support of L2 blockchain innovations future.
- Aevo is a decentralized derivatives exchange platform that focuses on options and perpetual contracts.
Binance Labs just announced their new investment in Aevo to support the development of L2 blockchain innovations.
Binance Labs is the venture capital and incubation arm of Binance, and Aevo is a high-performance Layer 2 built on top of the OP Stack allowing perpetual trading, pre-launch futures, and options. All of them are on the same platform with a single margin account.
The technical architecture is operating as an off-chain order book with on-chain settlement on Ethereum, using Celestia as a high-throughout DA layer for scalability.
Aevo is backed by Paradigm, Dragonfly, and Coinbase Ventures and it’s a rebrand of the previous DeFi options protocol Ribbon Finance, as voted in Ribbon Finance’s RGB-33 governance proposal.
According to Binance‘s official announcement, during the next phase of growth, new initiatives for incentives, token liquidity, and community growth will be rolled out via the DAO communities in order to attract more users and liquidity to the platform.
Binance reveals that year-to-date, Aevo has made over $80 billion in derivatives volume and it has generated more than $30 million in fees with an average of 50k monthly active users on the platform.
Binance Labs also announced the new investment in Aevo via X.
We’ve invested in @aevoxyz
Aevo is a decentralized derivatives exchange platform, focused on options and perpetual contracts.
Read more👇https://t.co/R4Q06RVXRH
— Binance Labs Fund (@BinanceLabs) May 21, 2024
Future roadmap
As a part of the future roadmap, Aevo will be launching strategies, yield products, and Aevo staking. It will also expand the ecosystem of derivative products by allowing builders to deploy their dApps permissionlessly on Aevo L2 in order to leverage its growing user base and features.
Aevo exchange runs on a custom EVM roll-up that rolls up to Ethereum. The fact that Aevo operates an off-chain order book with on-chain settlements means that once the orders are matched, trades get executed and settled with smart contracts.
