Binance Labs, the venture capital division of the world’s largest cryptocurrency exchange, has announced a new investment in a decentralized exchange protocol. In a press release, it was revealed that Binance Labs has invested in Aevo, a layer-2 (L2) decentralized exchange rebranded from Ribbon Finance. Aevo positions itself as a high-performance derivatives platform designed for futures and perpetual contracts trading. The protocol is built on top of Ethereum’s Optimism OP Stack, utilizing off-chain order books that are settled on-chain on the Ethereum network. To enhance scalability, Aevo incorporates Celestia as a high-throughput data availability layer. The project has also received backing from prominent investors such as Paradigm, Dragonfly, and Coinbase Ventures. With this investment, Aevo aims to expand its ecosystem and community, which currently boasts over 50,000 active monthly users who have traded over $80 billion in derivatives volume. Aevo’s future plans include launching vault strategies, yield products, and staking options, as well as permitting builders to deploy their decentralized applications on Aevo L2. Binance Labs, the accelerator and venture capital arm of Binance, facilitated this investment.
