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
$0.0242
+4.4% 24h
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Off-chain order-book matching with on-chain settlement on a dedicated rollup, combining CEX-like UX with self-custody.
A dedicated Ethereum optimistic rollup built on the OP Stack, with a cloud-hosted sequencer operated by third-party infrastructure provider Conduit. Gives Aevo a purpose-built app-chain to avoid the throughput/congestion constraints of shared L2s. Aevo was the first OP Stack fork to go live on mainnet.
A high-performance off-chain central-limit order book matches orders (options, perps, spot) while trades settle on-chain on the Aevo L2. This hybrid design targets low latency and high throughput for professional traders while retaining Ethereum-anchored settlement.
Options and perpetual futures across multiple assets (originally ETH, later BTC and others) within a single unified margin account. Aevo added perpetual futures on 18 May 2023 and also offers pre-launch/pre-market token perps.
Automated options-selling structured-product vaults inherited from Ribbon Finance (the original Theta Vault product line). These legacy vaults remained deployed after the rebrand and were the component drained in the December 2025 oracle exploit.
The protocol's governance token with a 1,000,000,000 max supply, created by converting the legacy RBN token 1:1. Governs the Aevo DAO and treasury committees.
1,000,000,000 AEVO
Binance Launchpool announcement (AEVO)$16.6M across funding rounds; latest was an $8.75M round led by Paradigm on 2022-03-22
CoinDesk - Paradigm invests $8.75M in Ribbon Finance1:1, no amount limits and no deadline
Aevo Documentation - Token DistributionHow Aevo maps onto established TradFi structures, and where it diverges.
Listed options exchange / clearing (e.g. CBOE / OCC model)
Aevo
Aevo runs an order-book venue for standardized options and futures contracts with centralized matching, analogous to a listed derivatives exchange with a matching engine.
TradFi analogue
Settlement is on a permissionless on-chain rollup rather than a regulated central clearinghouse; users self-custody collateral; there is no broker/KYC intermediation layer in the core protocol.
Structured product / auto-callable yield notes desk
Aevo
The legacy Ribbon Theta Vaults (DOVs) systematically sell options to generate yield, similar to bank-issued structured yield notes.
TradFi analogue
Fully automated via smart contracts, non-custodial, and transparent on-chain rather than an OTC desk product with a bank counterparty.
Julian Koh
Co-founder & CEO Co-founded Ribbon Finance (which became Aevo) and leads the project as CEO. Quoted in coverage of both the 2022 raise and the Conduit/OP Stack migration.
Ken Chan
Co-founder Co-founder of Ribbon Finance alongside Julian Koh, named in coverage of the 2022 Series B raise.
Key milestones: launches, upgrades, exploits and governance events.
Aevo L2 mainnet (first OP Stack fork live)
ExecutedLaunch of the dedicated OP Stack rollup with off-chain matching and on-chain settlement.
SourcePerpetual futures product live
ExecutedExpansion from options-only to a combined options + perps venue under one margin account.
SourceRibbon -> Aevo rebrand / RBN->AEVO conversion
ExecutedGovernance-approved merger consolidating all Ribbon products under the Aevo brand and converting RBN to AEVO 1:1.
SourceAEVO fully unlocked and circulating
ExecutedPer Aevo documentation, as of 1 January 2025 all AEVO tokens are fully unlocked and in circulation.
SourceYes. Aevo evolved from Ribbon Finance's options stack. In July 2023 RBN tokenholders passed proposal RGP-33 to merge Ribbon into Aevo, rebranding all products under the Aevo name and converting the RBN token to AEVO 1:1.
RBN converts to AEVO on a 1:1 basis, with no limits on amounts and no deadline, directly via the exchange. Several centralized venues (e.g. Crypto.com, Gate) also supported the conversion.
Options, perpetual futures, and pre-launch token futures, plus spot, all within a single unified margin account. Perpetual futures were added on 18 May 2023.
A custom Ethereum layer-2 optimistic rollup based on the OP Stack, using a sequencer operated by Conduit. Order matching happens off-chain via a central-limit order book while settlement is on-chain.
1,000,000,000 AEVO. As of 1 January 2025, all AEVO tokens are fully unlocked and circulating per the Aevo documentation.
