Aevo plans airdrop for early adopters of derivatives protocol

Derivatives trading protocol Aevo has it smart contract for a native token, availability expected in the coming weeks. The team said it plans to distribute some of the offering to early adopters via an airdrop

The right to receive Aevo tokens extends to users who interacted with the platform before today’s announcement. However, the details of the allocation remain secret.

Aevo plans to reward trading activities separately and target users who contribute to trading volume on its platform.

The protocol is preparing to launch a ‘farming program’ in the coming days through which it will distribute the rewards in Aevo tokens, according to the team.

“We will airdrop Aevo to early adopters of the Aevo exchange and will launch our first agriculture program in the coming weeks,” the project said. “To be clear, all Aevo users to date who have done volume are eligible for Aevo.”

The evolution from Ribbon Finance to Aevo

Originally part of the DeFi project Ribbon Finance RBN

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, which has its own token, Aevo will allow a 1:1 exchange of Ribbon Tokens for Aevo Tokens as they become available. The developers are conducting security audits for both the new token and the migration contract.

The network uses an optimistic Layer 2 combination created using the Conduit rollup platform. It plans to use Celestia for the availability of data, so that transaction costs remain low and space is created for other protocols to build on them.

In 2022, Ribbon Finance emerged as a notable DeFi protocol, especially in the decentralized options market. Developed as an extension of Ribbon Finance, Aevo focuses on scaling decentralized options through its own Layer 2 app chain, which initially offered options and later expanded to include perpetuals.