Binance Launchpool to launch farming token of the Aevo decentralized exchange

What’s new? Crypto exchange Binance has announced the launch of the 48th project on the Binance Launchpool token farming platform. It will be Aevo, a decentralized exchange (DEX) for trading crypto derivatives. Starting March 8, 00:00 UTC, users will be able to stake Binance BNB tokens and FDUSD stablecoins to farm AEVO coins.

The exchange’s announcement

What else is known? The AEVO farming program will last for five days, after which Binance will list the asset on March 13, at 10:00 UTC and launch trading in pairs with bitcoin, BNB, USDT and FDUSD stablecoins, and Turkish lira.

At the same time, AEVO will be added to the platform with a Seed Tag, which is assigned to new projects and warns investors of the risks of increased volatility. To access Seed Tag token trading, users need to pass risk awareness tests every 90 days.

AEVO’s total supply will be 1 billion coins, with an initial circulating supply of 11% of the total or 110 million coins. Binance has allocated 4,5% or 45 million coins for the farming program, 80% of this amount (36 million) will be received by BNB pool members, the remaining 20% (9 million) will be rewards for blockchain in FDUSD pools.

Residents of certain countries and regions, including the United States, Canada, Japan, New Zealand, the Netherlands, Belarus and Crimea, will not be able to participate in the farming program.

Aevo is focused on options and perpetual trading. It operates on a Layer 2 (L2) network of the same name, based on the Ethereum blockchain and the OP Stack architecture from the developers of the Optimism blockchain.

The native token AEVO is based on the ERC20 standard and is used for project governance within a decentralized autonomous organization (DAO), as well as staking. At the same time, users receive discounts on exchange trading fees for locking coins in staking, as well as increased rewards in the trader bonus program.

At the end of three initial rounds of funding, the project raised $16,6 million at a valuation of $250 million.