Everything You Need to Know About Aevo Airdrop

On February 1st, Aevo announced its airdrop program. Unlike other projects that are implementing points programs, Aevo is implementing a Farming Program to incentivize volume from users as it believes that the crypto community is exhausted from doing points programs in other projects. This article will explain the Aevo airdrop mechanics and the latest update on the airdrop. 

$AEVO Farming Program and $AEVO Airdrop

The Farming Program is set to focus on three pivotal elements: transaction volumes, fees generated, and user engagement with Aevo, measured by the frequency of their activity on the platform. 

To incentivize participation, a unique "Farming Boost" mechanism will be implemented. This mechanism acts as a reward multiplier, influenced by the aforementioned factors, offering users a lucrative opportunity to increase their overall rewards.

All Aevo participants who have engaged in trading activities thus far will qualify for $AEVO token distribution. This initiative is designed to reward their ongoing participation and loyalty to the platform.

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Upon the culmination of the Farming Program, every participant of the Aevo Exchange will be entitled to claim their accumulated $AEVO tokens, inclusive of any rewards earned previously. Additionally, the DAO is committed to furnishing the initial liquidity required for the $AEVO token, ensuring a smooth integration into the market.

The farming program will end on 13 March 2024 as announced by Aevo at the same time that the airdrop will happen. 

Aevo is a rebrand of Ribbon Finance ($RBN) as approved in Aevo's governance proposal RGP-33. The majority of Ribbon’s tokens ($RBN) are already in circulation or allocated. The DAO Treasury, holding the largest token share, has historically underutilized these assets, aside from liquidity pool contributions.

Proposal AGP-1 introduces a more effective allocation strategy for the Treasury's conversion to $AEVO at the token generation event (TGE), aligning with the establishment of Committees responsible for fund management. The proposal outlines a distribution of the DAO's 45% $RBN share as follows:

• Up to 16% for Incentives (including Airdrops), managed by the Growth & Marketing Committee, to promote Governance token awareness and enhance platform engagement.
• Up to 9% for Token Liquidity, overseen by the Treasury and Revenues Management Committee, to maintain $AEVO liquidity on exchanges.
• Up to 5% for Community growth and bounties, again under the Growth & Marketing Committee, to fuel community engagement and participation.
• The remaining 16% is unallocated, and reserved for future Aevo initiatives, with the team's 2% annual allocation drawn from this pool (refer to Section 2 - Operating Expenses).

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$RBN Statistics

$AEVO is a re-brand of $RBN, here are the important statistics of the $RBN token as of the time of writing:

• Market Capitalization: $1,483,829,449
• Fully Diluted Valuation: $1,579,650,346
• Total Value Locked: $121,827,128
• Circulating Supply: 939,340,438
• Total & Max Supply: 1,000,000

Currently, $RBN is trading at $1.58 marking an increase of 100% in the last 7 days and 712% from the last year.

You can buy $RBN on Bitrue

Source: CoinGecko