Binance Invests in Aevo to Support L2 Blockchain Innovations
Binance Labs has announced an investment in Aevo, a decentralized derivatives exchange platform, to foster the development of second-generation blockchain technologies.
With funding from Binance Labs, Aevo aims to advance Layer 2 (L2) blockchain innovations. Aevo specializes in option and perpetual contract trading, operating as a high-performance L2 platform built on the OP Stack, supporting perpetual trading, pre-launch futures, and options. Binance Labs, the startup funding and incubator arm of Binance, backs this initiative.
Aevo's technology leverages Celestia as a high-throughput data availability (DA) layer to enhance scalability. The platform functions with an off-chain order book and on-chain settlement on Ethereum, providing efficient trading solutions.
Originally part of Ribbon Finance, Aevo rebranded following the RGB-33 governance proposal approved by Ribbon Finance's DAO community. It has garnered support from Paradigm, Dragonfly, and Coinbase Ventures. An official release from Binance highlights new initiatives during Aevo's growth phase, focusing on rewards, token liquidity, and community development to expand the user base and increase liquidity.
Aevo has already achieved significant milestones, generating over $80 billion in derivatives volume and more than $30 million in fees, with an average of 50,000 active users monthly.
Looking ahead, Aevo plans to introduce staking, yield products, and new strategy launches. These developments aim to enhance Aevo L2's user base and features, enabling developers to permissionless launch their decentralized applications (dApps) and expand the ecosystem of derivative products.$AEVO $ETH $BNB
