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Author: Paul Veradittakit, partner at Pantera Capital; Translation: 0xjs@Bitchain Vision
Key points:
Pantera recently invested in Aevo, a decentralized derivatives trading platform focusing on options and perpetual trading.Previous investors include Paradigm, Dragonfly Capital and Coinbase Ventures.
Aevo runs on Aevo L2, a custom Ethereum Rollup built using the Optimism stack.
Aevo’s main products on the exchange are perpetual futures, options and pre-issued tokens.
introduction
Aevo is a decentralized derivatives trading platform focusing on options and perpetual trading.It runs on Aevo L2, a custom Ethereum Rollup built using the Optimism stack.This allows Aevo to support over 5,000 transactions per second, with more than $30 billion in transaction volumes processed to date.
The exchange adopts a hybrid model – an off-chain centralized limit order book used to match transactions, and uses smart contracts on Ethereum L2 for on-chain settlement of actual transactions.This allows Aevo to provide a high-performance, low-latency trading experience similar to a centralized exchange, while maintaining the security and transparency of decentralized settlements.
Aevo currently offers three main products:
1. Perpetual contracts – allow users to long or short crypto assets with up to 20 times leverage.Aevo supports a variety of cryptocurrency perpetual contracts, including BTC, ETH, SOL, AVAX, etc.
2. Options – Provides an on-chain option order book where users can buy and sell call/put options for crypto assets with various strike prices and expiration dates.
This includes ETH and BTC options that expire weekly, biweekly and monthly.
3. Pre-Launch token futures – Aevo provides a futures market for unissued tokens.Once the token is launched on CEX, Pre-Launch futures are converted to regular permanent futures.
They have special parameters such as 50% initial margin, no index price and no financing payments.Prices are completely speculative and based on market demand.
Aevo is now the first choice for the Pre-Launch market, winning the title of “Coingecko/Coinmarketcap of Pre-Launch tokens”.Recently successful Pre-Launches include Jupiter and Starknet.
The transition from Ribbon Finance to Aevo
Aevo was created by the same team behind Ribbon Finance, a groundbreaking DeFi options protocol that has processed over $10 billion in option volume through an automated option vault.Ribbon’s options vault has an all-time high TVL of over $350 million and earns depositors a premium of more than $50 million.
At the end of 2023, the Ribbon team decided to expand from an option vault to a mature decentralized option and perpetual contract exchange.This led to the creation and launch of Aevo.
The Ribbon team brings Aevo their extensive experience and track record in DeFi options.The exchange quickly gained attention, with trading volume exceeding $30 billion in just a few months after its launch.Aevo aims to build on Ribbon’s success to create a leading decentralized derivatives exchange.
The team behind innovation
Ribbon Finance co-founders Julian Koh and Ken Chan bring extensive experience and academic background during their tenure at Coinbase.Julian is a Cornell University alumnus who has worked in cryptocurrency integration, custody and staking at Coinbase and has contributed to Metastable Capital through research and due diligence.Ken’s experience includes a key role at Coinbase, focusing on custody, brokerage and asset appreciation, and has worked as a research engineer at Zilliqa, improving his blockchain development skills.
Their comprehensive expertise and history in the cryptocurrency space makes them a strong team in the DeFi space.
in conclusion
Aevo is a rapidly growing decentralized derivatives exchange that has quickly become a major player in the DeFi derivatives space.By combining the performance and user experience of centralized exchanges with the security and transparency of decentralized settlements, Aevo provides a compelling platform for on-chain cryptocurrency derivatives trading.
The exchange’s core products—perpetual contracts, options and Pre-Launch token futures—have been widely adopted, with total trading volume exceeding $30 billion in less than a year of launch.
Aevo was created by the team behind Ribbon Finance, a groundbreaking DeFi options protocol that has processed over $10 billion in options volume.The team’s deep expertise in DeFi options informs Aevo’s design and development, which builds on Ribbon’s successful creation of a more comprehensive derivatives exchange.
Looking ahead, Aevo is ready to continue to grow rapidly as more users and assets move to decentralized trading platforms.With its innovative products, high-performance infrastructure and an experienced team, Aevo aims to be a leading destination for crypto derivatives trading in DeFi.
