Venture capital arm of giant crypto exchange Binance Labs announced that it has invested in a layer-2 DEX called Aevo, which is affiliated with Ribbon Finance.
Aevo bills itself as a high-performance derivatives DEX platform specifically designed for trading futures and perpetual contracts.
The DeFi protocol is built on the Ethereum Layer-2 protocol Optimism’s OP Stack. With these, it acts as an off-chain order book and orders are settled on-chain in Ethereum.
The protocol uses Celestia (TIA) as a high-throughput data availability (DA) layer to increase scalability. The project is also backed by Paradigm, Dragonfly and Coinbase Ventures.
According to the announcement, Aevo aims to use its derivative volume exceeding $80 billion, along with its existing more than 50,000 monthly active users, to grow its investment ecosystem.
“As part of its future roadmap, Aevo will launch vault strategies, yield products and Aevo staking. “By expanding the derivatives ecosystem, it will allow developers to distribute their dApps on Aevo L2 without permission to take advantage of its growing user base and unique features.”
