Overview
$AEVO (formerly known as Ribbon Finance) is an Ethereum Layer-2 app chain rollup. It is built using the OP Stack and functions as an order-book-based decentralized exchange. The Aevo Rollup is operated in collaboration with Conduit, a Rollup-As-A-Service (RaaS) provider. Transactions on Aevo are ordered by a sequencer (managed by Conduit), then batched and posted onto Ethereum every hour. Aevo Rollup has a dispute period of two hours, where any challenged transactions can be confirmed or denied. After the 2-hour dispute period, transactions from the Aevo Rollup are confirmed on Ethereum. Users can deposit various crypto assets onto the Aevo Rollup from Ethereum (USDC, USDT, ETH, WBTC), Optimism (USDC, ETH), or Arbitrum (USDC, ETH). There are no gas fees on the Aevo Rollup.
History
Ribbon Finance was co-founded in November 2020 by Ken Chan and Julian Koh. The pair co-founded Ribbon Finance to provide a structured product protocol for crypto assets. The protocol first went live in February 2021 on Ethereum with the launch of ETH strangle options, allowing users to speculate on ETH volatility. In April 2021, Ribbon Finance’s second product, Theta Vaults, was launched, allowing users to earn yield by writing options on deposited assets.
