Binance Labs announces investment in Aevo

ChainCatcher news, Binance Labs announced an investment in Aevo, a high-performance L2 built on the OP Stack that allows for perpetual trading, pre-release futures, and options with a single margin account on the same platform. The technology architecture operates as an off-chain order book and settles on-chain on Ethereum, using Celestia as a high-throughput DA layer for scalability.

With support from Paradigm, Dragonfly, and Coinbase Ventures, Aevo is a rebranded version of the previous DeFi options protocol Ribbon Finance and was voted on in Ribbon Finance's RGP-33 governance proposal. In the next phase of growth, various DAO committees will launch new initiatives for incentives, token liquidity, and community development to attract more users and liquidity to the platform.

So far this year, Aevo's derivatives trading volume has exceeded $80 billion, generating over $30 million in fees, with an average monthly active user (MAU) count of 50,000 on the platform. As part of its future roadmap, Aevo will introduce vault strategies, yield products, and Aevo staking. It will allow developers to deploy their dApps on Aevo L2 without permission, leveraging its growing user base and unique features to expand its derivatives ecosystem.