As a researcher with extensive experience in the blockchain and cryptocurrency industry, I find Binance’s investment in Aevo to be an exciting development. The ability of Aevo to offer faster transactions and continuous trading with futures and options on a decentralized exchange is impressive. Its technical architecture, which includes an EVM roll-up based on a custom blockchain on the OP Stack and connections to Celestia for scalability improvements, sets it apart from traditional exchanges.
Binance has announced its investment in Aevo, a decentralized derivatives exchange (DEX).
Aevo is built on a custom blockchain within the OP Stack as an Ethereum Virtual Machine (EVM) roll-up. This unique technical design enables swifter and more efficient transactions than conventional blockchains. Users can take advantage of uninterrupted trading experiences with access to futures, options, pre-futures trading, and multiple choices under a single margin account for enhanced productivity.
Aevo utilizes an off-chain order book in conjunction with on-chain settlements on the Ethereum network, allowing for increased scalability. Essentially, trades are executed off-chain, while transactions confirming these deals are recorded on the Ethereum blockchain to maintain security. Furthermore, Aevo integrates Celestia, a fast-paced blockchain boasting multiple scalability enhancements, as an additional component of its infrastructure.
Additionally, Aevo, previously known as Ribbon Finance, has made its mark in the Decentralized Finance (DeFi) sector. With a solid history of accomplishment, it boasts a significant derivatives trading volume exceeding $8 billion, accrues an annual fee of $30 million, and caters to approximately 50,000 distinct monthly active traders.
Aevo aims to expand its offerings in the future by introducing fresh opportunities in the sector. Some of these additions include the development of vault strategies to generate earnings, a staking program for holders of Aevo tokens, and an open platform for developers to directly deploy their dApps on Aevo’s L2 to cater to the growing user base.
The decision by Binance Labs to invest in Aevo reflects their strong belief in the potential of Layer 2 solutions within Decentralized Finance (DeFi).
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2024-05-22 03:16