A Decentralized Derivatives Exchange Altcoin Will Soon Receive Launchpool Increase on Binance

A new cryptocurrency for decentralized derivatives trading is set to launch on Binance’s Launchpool platform.

Digital asset exchange Aevo (AEVO), built on Ethereum (ETH), will be the 48th Launchpool project from the most popular cryptocurrency exchange by volume. The platform allows users to trade options, perpetual futures, and other products with a single margin account. Members of Launchpool may stake coins in order to “farm” new assets.

Binance users may farm AEVO tokens starting on Friday by staking Binance Coin (BNB), the exchange’s native token, and the stablecoin First Digital USD (FDUSD) in separate pools.

After that, on March 13th, the exchange will put a seed tag on AEVO and make it available for trade. To ensure users are aware of the hazards involved with trading lower-liquidity tokens with seed tags, Binance applies them. Users who possess assets with tags are forced to complete quizzes every 90 days.

The Aevo project plans to introduce its staking and trading incentives for Aevo exchange traders in the second quarter of 2024, according to the roadmap. Project goals for the third quarter include developing the ecosystem and deploying the layer-2 scaling solution without authorization.

The rewards for Binance Launchpool tokens will be 45,000,000 AEVO, or 4.5 percent of the maximum supply of the token. There will be 110,000,000 AEVO in circulation at the outset.

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