Original - Odaily

Author - Nan Zhi

Today, Binance issued an announcement announcing the launch of the 48th phase of the new coin mining project Aevo (AEVO). Recently, the market is in full swing for the Aevo airdrop, which will end in 36 hours.

Odaily will introduce Aevo’s main business and features, Launchpool information and token price prediction in this article.

Main business and features

Options and Perpetual Contracts Trading

On April 7, 2023, the options trading platform Aevo mainnet was officially launched, allowing users to use USDC for transactions and real settlement. Users will first be able to trade ETH options on the options chain, supporting daily, weekly, monthly and quarterly settled options.

Aevo Exchange is built on Aevo Chain, allowing users to transfer funds to Aevo Chain directly from the Exchange user interface. Initially, Aevo only supported USDC cross-chain. Aevo is launched by Ribbon Finance, an on-chain structured product, and the platform is built on Ribbon Finance’s customized Ethereum Rollup, using an order book and margin model.

Currently, in addition to Ethereum, Aevo has also expanded to Optimism and Arbitrum. the most important is,Aevo has established a perpetual contract module（Perpetual Futures）。

Its technical features and structure include:

• Off-chain order book and risk control engine: Orders are matched off-chain, and will be posted to the Aevo smart contract only after successful matching. A risk control engine will check the standard margin or combined margin situation before being uploaded to the chain.

• On-chain settlement: Users’ funds and positions always remain on-chain, meaning all fund flows occur in smart contracts.

• Layer 2 architecture: The contract runs on Aevo Rollup and publishes a batch of transactions to the main network every hour.

• Liquidation: The risk control engine will perform liquidation inspection, and the liquidation engine will be responsible for the liquidation operation.

Through the above design, Aevo can achieve efficient matching and low-cost on-chain contracts and options trading, so Aevo has successfully occupied a place in derivatives trading.

Pre-Launch Token Futures

On August 9, Aevo announced the launch of Pre-Launch token futures, providing perpetual contract trading services for upcoming tokens. This product has no index price and no funding rate, but once the token is listed on the spot market, it will immediately start to refer to the index price and enforce the funding rate. Aevo stated that due to the experimental and high-risk nature of the product, Aevo will implement strict position limits and open interest caps in these markets, and the first token to be launched will be SEI.

Previously, before the tokens were officially launched, advance transactions were often conducted through OTC, and were usually in the form of double pledges. The transaction fees were high and funds were occupied. Aevos move provides users with a safe, effective, and low-rate advance transaction venue to avoid solved the above problems.And how accurate is its market pricing?

At 20:00 on August 15, 2023 (UTC+8), SEI was officially listed on Binance. Its closing price in the first hour was 0.1734 USDT, while Aevo’s closing price in the previous hour was 0.3946 USDT, a deviation of 117%.

The remaining open tokens are as follows:

TIA: The exchanges 1-hour closing price is 2.243 USDT, and Aevos closing price in the previous hour is 2.2932 USDT, with a deviation of 2%;

JTO: The exchanges 1-hour closing price is 2.144 USDT, Aevos closing price in the previous hour is 1.264 USDT, and the deviation is -41%;

STRK: The exchanges 1-hour closing price is 2.75 USDT, Aevos closing price one hour before is 1.8 USDT, and the deviation is -35%;

The above data can be seen,Aevos pre-opening price is not enough to effectively predict the official market launch price, but its characteristics are enough to serve as an effective substitute in some OTC scenarios.。

Interest-earning assets aeUSD

Aevo allows users, aeUSD is an ERC-4626 asset built on L2 Aevo, consisting of 5% USDC and 95% sDAI. By depositing stablecoins into MakerDAOs DSR module, Aevo enables users, market makers, and strategy providers to earn an additional 4.75% APY while depositing stablecoins (similar to lasts ETH deposit interest-earning mechanism). This move enables efficient use of user funds and provides potential liquidity reserves for the protocol as a whole. According to Aevo, it is the only DEX with an interest-earning mechanism, and more than 1/3 of the funds have chosen to be converted to aeUSD.

Launchpool and token data

• Launchpool start time: 08:00 on March 8, 2024 (UTC+ 8), lasting 5 days

• 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 amount: 45,000,000 AEVO (4.5% of the maximum supply of tokens), of which 36,000,000 are in the BNB pool and 9,000,000 in the FDUSD pool

According to Binance, Aevo has completed US$16.6 million in financing in 3 rounds of financing, namely:

• Seed round: 10% of the total amount, valued at US$18.5 million;

• Series A: 4.62% of the total, valued at US$130 million;

• A+ round: 3.5% of the total amount, valued at US$250 million.

It is worth noting that before Ribbon Finance was merged into its derivatives trading platform Aevo, the original token of Ribbon Finance was RBN.RBN holders are able to convert their RBN to AEVO at a 1:1 exchange rate, which requires a 2-month lock-in period. The remaining unlocking period of RBN proceeds as originally planned. The token issuance schedule is as follows:

• The RBN tokens of private investors (seed and series A) and teams will be fully unlocked by May 2024;

• RBN holders can convert RBN to AEVO at an exchange rate of 1:1, with a lock-in period of 2 months;

• AEVO is currently not unlocked for release, but the DAO will allocate 16% to future users and ecosystem incentives, which are expected to take more than 4 years.

Currently, the price of RBN on the chain is approximately 1.4 USDT.

Token price estimate

Aevos own Pre-Launch market does not list AEVO tokens, while Whales Markets Pre-Market market does, but with fewer orders, and the current floor price is 3.84 USDT/coin.

Based on calculations based on past BNB pools, the average annualized rate of return for the first eight periods is 135%. Assuming that the annualized rate of return for this mining is also 135%, based on 5 days of mining, the token price should reach 3.71 USDT , relatively close to the Whales Market order price. If calculated based on the minimum yield of 70%, the guaranteed price is approximately 1.92 USDT. Calculated based on 110 million coins, the guaranteed circulating market value reaches US$211 million, which is close to the US$250 million valuation of the A+ round of financing.