Binance Labs, the venture capital and incubation arm of Binance, has invested in Aevo, a high-performance Layer 2 (L2) built on top of the OP Stack that allows perpetual trading, pre-launch futures, and options, all on the same platform with a single margin account.
Its technical architecture operates “as an off-chain order book with on-chain settlement on Ethereum, and it uses Celestia as a high-throughput DA layer for scalability.”
Backed by Paradigm, Dragonfly, and Coinbase Ventures, Aevo is “a rebrand of the previous DeFi options protocol Ribbon Finance, as voted in Ribbon Finance’s RGP-33 governance proposal.”
During the next phase of growth, new initiatives “for incentives, token liquidity, and community growth will be rolled out by the respective DAO committees to attract more users and liquidity to the platform.”
Year-to-date, Aevo has done “more than $80 billion in derivatives volume and generated over $30m in fees with an average of around 50,000 monthly active users (MAU) on the platform.”
As part of the future roadmap, Aevo will “launch vault strategies, yield products, and Aevo staking. It will expand its ecosystem of derivative products by allowing builders to deploy their dApps permissionlessly on Aevo L2 to leverage its growing user base and unique features.”
As noted in the update, Aevo is said to be “a high-performance decentralized derivatives exchange platform, focused on options and perpetual contracts. The exchange runs on a custom EVM roll-up that rolls up to Ethereum. Aevo operates an off-chain orderbook with on-chain settlements.”
This means that once orders are matched, trades get “executed and settled with smart contracts.”
As the venture capital arm and accelerator of Binance, Binance Labs has “now grown to be worth over $10 billion.”
Its portfolio covers 250 projects “from over 25 countries across six continents and has a return on investment rate of over 14X. Fifty of Binance Labs’ portfolio companies are projects that have gone through our incubation programs.”
