Bittime - In an official announcement via social media platforms, Aevo revealed that the process of migrating $RBN tokens to $AEVO has been completed. The AEVO token is a rebranding ofthe RBN tokenwhich was launched in 2021.
The AEVO migration process is not a typical "unlock" involving investors or venture capital, but rather provides an opportunity for RBN holders to convert their tokens to AEVO.
During this process, approximately 40% of the tokens that were “unlocked” were part of the conversion performed by the DAO from RBN to AEVO . Going forward, almost the entire fully diluted valuation of AEVO is already on the market and will not experience a monthly unlock and vesting period like many other new projects.
AEVO Voluntary Relock
Source: https://twitter.com/aevoxyz/
In a move that shows commitment and confidence in the project, the AEVO team and backers will voluntarily re-lock approximately 15% of the total token supply until the end of 2024.
This step aims to stabilize the market and demonstrate the long-term commitment of the main shareholders of this project.
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Future Development Plans
In the coming weeks and months, Aevo plans to launch a number of new projects that include improved token economics, benefits for AEVO stakers, new trading experiences, and L2 ecosystem applications without gas fees. These steps are expected to provide added value to the AEVO user community and attract more investors and new users.
Merger of Ribbon Finance into Aevo
Additionally, Ribbon Finance has officially joined derivatives trading platform Aevo, establishing AEVO as its sole brand name. This merger proposal, known as RGP-33, has been approved by the Ribbon Finance community.
The move includes the delisting of the old RBN token and the launch of the new AEVO token, where Ribbon Finance products will be merged into Aevo's suite of structured products. Existing RBN and veRBN tokens will be exchanged at a 1:1 ratio into AEVO.
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Rewards and Incentives for AEVO Holders
As part of its strategy to increase community participation and engagement, Aevo also announced that starting last Friday (12 April), users can claim AEVO rewards for the first four periods. These rewards come from the trading and staking incentive program offered by the Aevo platform.
Conclusion
With the completion of this migration, AEVO is ready to move forward with a solid strategy and development plan. Voluntary support for re-locking most tokens shows the team and backers' strong confidence in AEVO's long-term potential.
With various new initiatives set to launch soon, AEVO hopes to provide significant benefits to token holders and the wider crypto community.
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DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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