The Layer 2 cryptocurrency derivatives platform Aevo has initiated trading for its native token, AEVO, which is set to launch on March 13.
We have another Pre-Launch today…
Presenting $AEVO Pre-Launch. Take a position on where AEVO will be when the airdrop happens by the 13th of March.
Trade here:https://t.co/1CGq06uIcx pic.twitter.com/388BWASztF
— Aevo (@aevoxyz) March 8, 2024
“Introducing the AEVO pre-market. Determine where the price will be by the airdrop on March 13,” the announcement stated.
The exchange has previously launched similar pre-market trading for tokens of other projects like Shuffle (SHFL) or Parcl (PRCL). However, this decision regarding its native coin has raised questions within the community.
“This is absurd, a pre-market for your own coin on your own exchange? Come on,” wrote Parsec Finance founder Will Sheehan.
Some simply expressed surprise, while the team behind the DeFi options trading service Rainbow, TealFinance, stated:
“We thought no one would ‘dare’ to list their own tokens for trading on their platform… hmm.”
According to Aevo co-founder Julian Koch, the exchange prohibits employees from trading the coins before the launch, reports The Block. He added that the platform has not provided any listing price information to investors and traders.
Aevo has also launched a pre-farming program, which allows for an increase in the token allocation during distribution. This will also close on March 13.
AEVO is LIVE on the @binance launchpool ?
Farming ends on the 13th of Marchhttps://t.co/pjbdxxobJd
— Aevo (@aevoxyz) March 8, 2024
The platform announced the airdrop on February 1. The distribution plans have drawn some criticism from users due to the allocation volume—5% of the issuance is reserved for the community. For instance, Wormhole allocates 17%.
Aevo dismissed the complaints, stating that the final amount is determined by the price.
“A weak AEVO will make the airdrop smaller, a strong one will make it substantial. We all strive to make the price higher, and I think we can agree on that, right?” a team representative wrote on Discord.
According to him, the decision to allocate a larger volume of tokens to Binance will also positively affect the coin’s rate post-launch.
Earlier, CoinGecko analysts compiled a list of potential airdrops for 2024, including StarkNet, LayerZero, MetaMask, and several others.