A self-directed and self-acted control drama? Explaining the dramatic story of AEVO in the two months since its launch

原创 | Od人工智能星球日报

作者 | 南枝

Last week, AEVOs market value was only $140 million, and rumors that AEVO was about to unlock tokens worth up to $1 billion intensified in the market. In response, neither Aevo officials nor related data websites gave an explanation. When the unlock event expired, AEVO fell 16% in one hour. After the decline, Aevo began to explain and clarify the unlock and made a lock-up commitment. With this announcement, AEVO began to rise rapidly again. Odaily Planet Daily will interpret the event in this article.

Origin of AEVO Token

In April 2023, the Aevo mainnet of the options trading platform was officially launched. The platform was launched by the on-chain structured product Ribbon Finance. Before the launch of the AEVO token, the platform had no native token, and Ribbon Finance had previously issued the token RBN.

When the product was launched, Aevo mentioned in its white paper that it would launch the token AEVO. AEVO did not come out of thin air, but was a rebranding of Aevos previous governance token RBN.

Most of the RBN tokens are deposited in the DAO Treasury and are difficult to use. Therefore, Aevo proposed in the AGP-1 proposal to make a more dynamic and functional allocation of the treasury. The tokens of the treasury will be converted into AEVO at TGE and used for airdrops, liquidity, community growth and DAO expenditures.

In March 2024, the AEVO token was officially launched and listed on Binance Launchpool, with a total of 1 billion tokens and an initial circulation of 110 million. RBN holders can convert their RBN to AEVO at a 1:1 exchange rate, but a 2-month lock-up period is required (i.e. unlocking in May). Private investors (seed round and A round), teams and other ordinary RBN holders can all make the conversion in May. After the conversion is opened, the circulation of AEVO will rise to about 950 million.

RBN spread and AEVO roller coaster market

Before the announcement of its listing on Binance Launchpool on March 6, the price of RBN was approximately 0.79 USDT. It began to rise after the announcement and reached a peak price of 1.83 USDT on March 13.

After AEVO went online, there was a price difference of 90%-100% between AEVO and RBN, which was not eliminated until this month. Especially in the early days of the launch, the price difference between the two was too large, and some users in the market chose to buy RBN spot and open short positions in the contract market for hedging, so that AEVO had a round of short selling at the end of March. After the short selling, the price remained high for about 10 days, and then it began to fall ahead of the market.

Huge amount of tokens unlocked?

Before the conversion from RBN to AEVO was launched, users could check the token unlocking website token.unlocks and find out that AEVO will unlock tokens worth $1.06 billion on May 15, which is 770% of the circulating market value. The market also began to circulate corresponding panic selling remarks.

However, as mentioned above, this conversion is only to convert the circulating market value of RBN to the circulating market value of AEVO, which can be understood as the merger of the market values of the two tokens. The conventional unlocking should be the conversion of the token from the unsaleable state to the saleable state, but before the conversion, RBN itself is in a large circulation state and can be traded freely.

Clarification after the decline

Aevo did not make a clear clarification on the rumors of huge unlocking in the market, but instead provided users with relevant content on how to convert RBN. When the unlocking event expired on May 15, AEVO fell 16% in one hour. However, today, May 16, Aevo issued a statement to explain the unlocking, and the original text read: (This round) unlocking is not a typical insider/VC/team unlocking, it is the ability for RBN holders to (obtain) their RBN to migrate to AEVO tokens.

Under the clarification tweet, the Aevo team stated: To demonstrate the long-term commitment to building Aevo into the number one derivatives DEX on Ethereum, the team and supporters will voluntarily re-lock approximately 15% of the supply by the end of 2024. After this explanation, the AEVO token began to rebound rapidly, with a maximum increase of more than 10% in three hours.

综上所述

It is true that Aevo has taken on the historical burden from the Ribbon Finance period at a low cost, but the token price difference of up to 100%, the huge amount of market-smashing power when converting rather than unlocking, and the abnormal situation of making a clarification announcement only after the market crash may mean that there is a self-directed and self-acted road to market control behind it.

However, all related events have come to an end, and the AEVO token has entered a state of nearly full circulation. Whether the team that has taken over the historical debts can continue to develop through its business will be tested by the market.

This article is sourced from the internet: A self-directed and self-acted control drama? Explaining the dramatic story of AEVO in the two months since its launch

Related: A brief discussion on the new features of Aave v4: Should every major protocol launch a chain?

Original author: @cmdefi Editors note: Crypto researcher CM (X: @cmdefi) published an article sorting out some new features introduced in Aave v4, including unified liquidity layer, fuzzy control interest rate function, liquidity premium mechanism, etc. CM said that Aaves planned new network layer Aave Network is full of the stubborn flavor of old DeFi. Whether it is really necessary for DeFi protocols to launch a chain after they become bigger is still a long way off. Regarding Aave v4, a few words to summarize: many problems should have been fixed long ago, and some plans seem to be the stubbornness of old DeFi. Should every major protocol launch a chain? 1. Unified Liquidity Layer All fund supply and lending are centrally managed so that liquidity is not dispersed among different…