Binance plans to roll out support for a new decentralized derivatives exchange altcoin through its Launchpool platform.
The best global crypto exchange platform by volume say the 48th Launchpool project will be Aevo (AEVO), an Ethereum (ETH)-based digital asset exchange that supports options, perpetual futures and other products within a single margin account.
Launchpool allows users to stake coins to acquire new assets.
Starting Friday, Binance users will have five days to stake BNB, Binance’s native token, and the stablecoin First Digital USD (FDUSD) into separate pools to farm AEVO tokens.
The exchange will then list AEVO for trading on March 13 and apply a start tag to the asset.
Binance applies seed tags to lower liquidity tokens that have more potential for volatility, and users who own tagged assets must take quizzes every 90 days to ensure they are aware of the inherent risks associated with trading of it.
Aevo’s road map indicates the project aims to launch AEVO staking and trading incentives for Aevo exchange traders in the second quarter of 2024. In the third quarter, the project plans to work on developing ecosystems and permissionless deployments for its layer 2 scaling solution.
Binance Launchpool’s token rewards are 45,000,000 AEVO, which is 4.5% of the token’s maximum supply. AEVO will have an initial stock of 110,000,000 units in circulation.
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