On March 6, 2024, Beijing time, Binance announced that it will list AEVO (AEVO) at 18:00 on March 13, 2024 (Eastern Eighth District time). In this article, we use comparable valuations, opening funds, RBN conversion, and lending Cost and OTC price are used to predict the short-term reasonable price of AEVO when it opens. We believe that the short-term reasonable price range of AEVO when it opens is between 2.5 and 3 US dollars.
1. About this Binance Launchpool
Token name: AEVO (AEVO)
Maximum supply of tokens: 1,000,000,000 AEVO
Initial circulation: 110,000,000 AEVO (11% of the maximum supply of the token)
Total mining volume: 45,000,000 AEVO (4.5% of the maximum supply of the token)
Research Report: AEVO (AEVO)
Smart Contract Details: Ethereum
Restrictions: KYC required
Personal hourly mining hard cap
BNB Mining Pool: 30,000 AEVO
FDUSD Mining Pool: 7,500 AEVO
2. Project Introduction
AEVO is a decentralized derivatives exchange that focuses on options trading. It belongs to Ribbon Finance, an on-chain structured product, and uses order books and margin models. DEX currently runs on AEVO L2, which is based on OP Stack. Therefore AEVO has two products:
AEVO L2: AEVO exchange runs on the AEVO L2 chain, which is an Ethereum summary based on OP Stack
AEVO Exchange: Orders on the AEVO Exchange are sent to the off-chain order book, but settled on the AEVO L2 chain.
As of March 10, 2024, AEVO has launched more than 60 spot trading pairs. The current trading volume is concentrated on the ETH-USD trading pair, with a 24-hour trading volume of approximately US$59 million. The following figure shows the interface of some major trading pairs. .
3. Business data
AEVO's user data is in a growth stage. Since it launched its trading incentive program, trading volume has increased rapidly, reaching US$27.2 billion and US$18 billion in the past two weeks. In addition, the number of weekly traders is also increasing, with the highest number reaching 60,039 in a week.
From a comparison of the same tracks, as of February 28, 2024, AEVO's trading volume far exceeded that of similar products, followed by DYDX, Hyperliquid and RabbitX. Image via @Torere_Romero.
4. Team introduction
AEVO's team comes from Ribbon Finance. The founder, Julian Koh, has worked in companies such as Numerai, Metastable Capital and Coinbase, mainly as an engineer. He started his business in 2020 with the project Ribbon Finance.
5. Financing history
According to disclosures from Rootdata and Binance, AEVO has had three rounds of financing so far. The project has raised US$16.6 million through 3 rounds of financing, and the corresponding valuations are:
Seed round: 10% of FDV, valued at $18.5 million
Series A: 4.62% of FDV, valued at $130 million
Series A+: 3.5% of FDV, valued at $250 million
6. Token Economy
Token usage
AEVO’s native token has the following uses:
Governance: AEVO token holders can vote on network upgrades, new listings, and general DAO governance
Staking: Users who stake AEVO tokens will receive discounts on trading fees on the AEVO exchange and receive additional rewards in the AEVO Trader Rewards Program
Token distribution
It is worth noting that the AEVO project was formerly known as Ribbon Finance, so RBN token holders can convert AEVO tokens into AEVO two months after the issuance, with a conversion ratio of 1:1, and the specific allocation of RBN tokens is unlocked For details, please refer to https://docs.ribbon.finance/ribbonomics/overview-and-rbn-tokenomics.
Token unlocking rules
l Private investors (seed investors and Series A investors) and the team’s $RBN tokens will be fully vested in May 2024
l RBN holders can convert $RBN to $AEVO at a 1:1 ratio, but they need to be locked for 2 months.
l AEVO currently has no inflation, but DAO has allocated 16% of FDV for future user and ecosystem incentives. This is expected to be spent within 4 years.
7. Social data
Number of Twitter followers: 87,400
https://twitter.com/AEVOxyz
Number of Discord users: 62186
https://discord.com/invite/AEVO
8. Online prediction
1. Recent data of Binance Launchpool
Recently, Binance has launched new tokens more frequently. Among them, the performance of PORTAL token is quite amazing. The average ROI on the opening day reached 4780%. The market is very enthusiastic about Binance Launchpool.
2. Comparable valuation
From the perspective of comparable project valuations, we mainly selected derivatives Dex projects for comparison. AEVO's opening market value has a growth space of 39.82x compared to similar Dex projects, and its total market value has a growth space of 8.29x.
3. Funding comparison
Comparing the funds, among the first two phases of the project, the PIXEL project has more participating funds, reaching 798 million U.S. dollars. The latest eight phases of the Launchpool project have higher funding participation, with an average turnover multiple of 50.11x and an increase in circulation market value. Average 40.2x.
4. RBN currency conversion
According to the official announcement, RBN tokens can be exchanged for AEVO tokens at a 1:1 ratio two months after the launch of AEVO. When the news of AEVO’s listing on Binance was announced, the price of RBN tokens rose sharply, with an increase of 48.97% that day. . The current RBN price is $1.65.
5. Borrowing costs
According to the calculation of on-chain costs, AEVO needs to reach $1.068 to cover the cost of borrowing BNB to participate.
6. OTC pricing
According to the futures market price of AEVO.xyz, the current price of AEVO tokens is $2.58.
7. Comprehensive calculation
To sum up, we believe that the short-term reasonable price range for AEVO when it opens is 2.5 to 3 US dollars.
9. Quote
Read Binance’s latest Launchpool project AEVO in one article
https://www.theblockbeats.info/news/51560
Binance Research AEVO
https://www.binance.com/en/research/projects/AEVO
I have root data
https://www.rootdata.com/zh/Projects/detail/AEVO?k=MzAwOQ%3D%3D
