The venture arm of the world’s largest cryptocurrency exchange by volume has announced a new investment in a decentralized exchange (DEX) protocol.
According to a new press release, Binance Labs has invested in a layer-two (L2) DEX called Aevo, a rebrand of Ribbon Finance.
Aevo bills itself as a high-performance derivatives DEX platform tailored for futures and perpetual contract trading.
The decentralized finance (DeFi) protocol is built on top of Ethereum (ETH) layer-two protocol Optimism’s OP stack. It acts as an off-chain order book, with orders settled on-chain on Ethereum. The protocol uses Celestia (TIA) as a high-throughput data availability (DA) layer to improve scalability. The project is also backed by Paradigm, Dragonfly, and Coinbase Ventures.
According to the announcement, Aevo plans to use the investment to grow the ecosystem and its community, which already has more than 50,000 monthly active users who trade over $80 billion in derivatives.
"As part of the future roadmap, Aevo will launch a vault strategy, yield products, and Aevo staking. It will expand its derivatives ecosystem by allowing builders to deploy their dApps permissionlessly on Aevo L2 to leverage its growing user base and unique features."
Binance Labs is the accelerator and venture capital arm of Binance. #AEVO #aevo走势
Personal analysis:
At the daily level, it can be seen that the market has been fluctuating sideways since May 15, and a stop-loss signal has appeared. But the trading volume is large, which is where the chips are piled up. The RIS indicator oversold zone recovered, and bullish sentiment grew. Now is the bottoming stage, you deserve it. $AEVO
