Aevo
Derivatives · Perp DEX · AEVO
Aevo is a decentralized derivatives exchange offering options and perpetual futures via a high-throughput central limit order book on a custom EVM rollup. It evolved from Ribbon Finance's options stack.
High-performance options + perps on a custom EVM rollup.
AEVO price
$0.0193
+0.6% 24h
Latest data · 15 min delay
Competitors
Ranked top→bottom — who competes with Aevo and how they differ.
| # | Competitor | Positioning | Similarities | Differentiator |
|---|---|---|---|---|
| 1 | Hyperliquid | High-performance on-chain perp DEX with an off-chain-style order book on its own chain. | Both are order-book derivatives DEXs on purpose-built chains targeting professional traders with low latency and high throughput. | Hyperliquid runs its own L1 with a fully on-chain order book and is perps-focused; Aevo is an OP Stack L2 with off-chain matching and a strong options franchise. |
| 2 | Derive (formerly Lyra) | Options-focused DeFi derivatives protocol that also moved to its own OP Stack chain. | Direct competitor in on-chain crypto options; both use dedicated OP Stack infrastructure and target options traders. | Derive originated as an options AMM/portfolio-margin protocol; Aevo leans on a central-limit order book with off-chain matching and a broader options-plus-perps product set. |
| 3 | dYdX | Established order-book perpetuals DEX, now on its own Cosmos app-chain. | Order-book model, app-chain architecture, off-chain matching heritage, and a professional-trader focus. | dYdX is perps-only and on Cosmos; Aevo is an Ethereum OP Stack rollup and additionally offers options and pre-launch futures. |
| 4 | GMX | Pool-based perpetuals DEX on Arbitrum/Avalanche. | Competes for on-chain perpetual-futures volume and traders. | GMX uses an oracle-priced liquidity-pool (GLP-style) model with no order book and no options; Aevo is order-book based with options as a core product. |
| 5 | Gains Network | Synthetic leveraged trading (gTrade). | Both in Derivatives (Perp DEX). | Synthetic markets (no spot leg) collateralized by gToken vaults; up-to-150x leverage on majors plus forex and equities. |
| 6 | Drift Protocol | Leading Solana-native perps DEX. | Both in Derivatives (Perp DEX). | DLOB + vAMM hybrid with JIT auctions; Drift Vaults offer passive strategies, with spot routed via Jupiter. |
| 7 | Synthetix | Synthetic-asset liquidity layer powering perps and synths. | Both in Derivatives (Perp DEX). | A shared, staker-backed liquidity layer (rather than per-market order books) that other front-ends (Kwenta, Polynomial) build perps on top of. |