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Binance Launchpool Announces Future Support for New Decentralized Altcoin Derivatives Exchange

Binance is planning to launch support for a new decentralized derivatives exchange altcoin via its Launchpool platform.

Leading global cryptocurrency exchange platform by volume says its 48th Launchpool project will be Aevo (AEVO), an Ethereum (ETH)-based digital asset exchange that supports options, perpetual futures and other products in a single margin account .

Launchpool allows users to stake coins to farm new assets.

Starting Friday, Binance users will have five days to stake BNB, Binance's native token, and the First Digital USD (FDUSD) stablecoin into separate pools to farm AEVO tokens.

The exchange will then list AEVO for trading on March 13 and apply an initial tag to the asset.

Binance applies seed tags to low-liquidity tokens that have greater volatility potential, and users who hold tagged assets are required to pass tests every 90 days to ensure they are aware of the inherent risks associated with their trading.

Aevo's roadmap indicates that the project wants to launch AEVO staking and trading incentives for Aevo exchange traders in Q2 2024. In Q3, the project wants to work on ecosystem development and permissionless deployments for its layer scaling solution two.

Binance Launchpool token rewards will be 45 million AEVO, which represents 4.5% of the maximum token supply. AEVO will have an initial circulating supply of 110 million.

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