HomeBlockchainAevo wants to let other protocols use its rollup to create their...

Aevo wants to let other protocols use its rollup to create their own stuff.

-

The derivatives platform Aevo wants to expand its Ethereum-based rollup to work with other protocols, so it can grow its community.

“We are currently using our own platform for Aevo exchange, and it’s the only app on this platform,” said Julian Koh, co-founder of Ribbon Finance. “Our plan is to allow other developers to use our exchange and create a community around it. ”

Aevo is a place where people can trade options and derivatives. It works on its own network, which is built on top of the Ethereum blockchain using Layer 2 technology. The platform will start using Celestia to store some transaction data soon to save money.

Seeking to increase or expand.

Koh said that the plan to expand its rollup will be revealed in the next few weeks. He said on X that the project will use a strong approach to grow quickly.

Ribbon Finance made a protocol called vaults and launched Aevo as a separate platform. Later they decided to combine the projects and use the Aevo name for both in July 2023. The rebrand will include a new Aevo token, and people who have RBN tokens will get the same amount of Aevo tokens in exchange.

Aevo is going to make changes to its brand and then offer a reward program to help improve the platform, Koh said.

Aevo has been growing steadily in the past few months. It has almost $50 million in value locked in its smart contracts and is currently making about $640 million in weekly transactions, according to DefiLlama.

Koh thinks that the platform’s balances that earn money are partly responsible for this. When someone puts their cryptocurrency into the platform, it gets sent to MakerDAO to make more money. The user gets a special token to trade on the Aevo platform. They can exchange it for the original assets. This helps traders make money on their investment while still using it for trading.

Aevo wants to focus more on offering ways for people to make money from their investments, like Ribbon Finance does. In the beginning of this year, they plan to start offering ways for users to make money with their crypto on the platform. With these plans, the tokens will be held and cannot be traded.

Providing early access to buy new tokens before they are officially released.

Aevo has been focusing on listing tokens for trading before they officially launch, which might have helped increase the demand for them. This is where a token will soon be given to people, usually for free, and where they know how much they will get ahead of time. By allowing trading before the official release, traders can protect themselves from losing money on airdrops or try to guarantee a certain price.

“I believe that each time we have started selling a product before it officially launches, we have gained more and more popularity. We have attracted more users and attention, and there is generally more interest in trading them. ” I believe there’s a big demand for new products before they are officially launched. People like to talk about and invest in these products before they are available.

He said that some of the projects can start at very high values, giving opportunities for people who want to guess what the market will be like in advance. He observed that Jupiter was the best example of this, as its value went up from $1 billion to as high as $8 billion before it was launched. “We aim to focus on the most talked-about airdrops or token launches,” he said.

Although this kind of trading makes up a small part of the exchange’s business, Koh said it gets a lot of attention and attracts new traders to its platform.

Koh said that the new spot bitcoin ETFs in the U. S don’t really affect decentralized exchanges because their trading volumes are still small compared to centralized exchanges. He said the ETFs will allow some big organizations to invest in crypto, but they were never interested in decentralized finance (DeFi) anyways. Instead, he said that growth can be found by encouraging people who trade cryptocurrency on centralized exchanges to try trading on decentralized exchanges. This is something that the incentives program will focus on.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Paris Saint-Germain is the first soccer team to use blockchain technology.

Paris Saint-Germain, a big soccer team, is going to check and approve transactions on the Chiliz Chain blockchain. They will use the money they make...

How will using AI to protect health data affect healthcare.

Improvements in AI-based Health Data Privacy are changing healthcare by making it possible to analyze private health information safely and quickly. New ways of...

Studying how AI affects how brands are creative.

Smart AI, like OpenAI's Sora, is changing how we make creative things by making it possible to make high-quality videos from just typing words. ...

Bitcoin drops to lowest point in a week due to concerns about big investors and the Nvidia company.

Bitcoin was about to move outside of its usual trading range at the beginning of the Wall Street day on February 21, because it...

Most Popular

ADVERTISE HERE