Aevo (AEVO), Ethereum Layer-2 application Blockchain rollup, is a decentralized exchange based on an order book. Ribbon Finance was founded in November 2020 by Ken Chan and Julian Koh and rebranded as Aevo. Aevo offers trading with various cryptocurrencies, perpetual futures, and Pre-Launch Token Futures. In this article, you can find answers to two frequently asked questions: What is Aevo (AEVO) and how to buy Aevo (AEVO) with TRY.
What is Aevo (AEVO)?
Formerly known as Ribbon Finance, Aevo is an Ethereum Layer-2 application Blockchain rollup designed to function as a decentralized exchange based on an order book. Aevo uses OP Stack and collaborates with Conduit, a Rollup-As-A-Service (RaaS) provider, to manage rollup transactions. Transactions on Aevo are sequenced, batched, and sent to Ethereum every hour by Conduit. There is a two-hour dispute period for transactions, during which disputed transactions can be approved or rejected. After this period, transactions are confirmed on Ethereum. Users can deposit various cryptocurrencies from Ethereum, Optimism, or Arbitrum to Aevo Rollup, and there are no gas fees on Aevo Rollup.
Ribbon Finance was co-founded by Ken Chan and Julian Koh in November 2020. The duo launched Ribbon Finance to create a structured product protocol for cryptocurrencies. The protocol went live in February 2021 with ETH strangle options, allowing users to speculate on ETH volatility. In April 2021, Theta Vaults were introduced, enabling users to earn yield by writing options on deposited assets. Ribbon Finance launched the RBN token in May 2021, giving the community governance rights over the protocol. Ribbon V2, featuring adjustable vault parameters, automated vaults, and a new accounting system, was released in September 2021. Ribbon V3, with new UX features, leveraged vaults, permissionless vaults, and more, was launched in April 2022.
Aevo was announced on September 28, 2022, by the Ribbon Finance project team as a decentralized exchange based on an order book for options and derivatives trading. Aevo officially went live on April 7, 2023, and expanded its offerings on May 18, 2023, by adding perpetual futures, allowing users to take leveraged positions in specific cryptocurrencies. On August 9, 2023, Aevo introduced its third product, Pre-Launch Token Futures.
In July 2023, RBN token holders voted to merge Ribbon Finance with Aevo. This merger allowed RBN token holders to convert their RBN tokens to AEVO at a 1:1 ratio. As a result, all products and materials related to Ribbon Finance were rebranded under the Aevo name.
How to Buy Aevo (AEVO) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Aevo (AEVO). Over 100 cryptocurrencies, including AEVO, can be traded on Binance TR, where accounts can be created quickly. To buy Aevo (AEVO) with TRY on Binance TR, follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. Go to trbinance.com and proceed from the “Create Account” step. In the first step of creating an account, you will be asked to enter basic information such as your email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering the requested information completely and accurately, an email/sms verification will be done to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is one of the security procedures that must be performed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can perform the verification process from your phone or the official Binance TR website. Note that you will need your mobile phone to perform identity verification on the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” After this step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, you can click on “Copy URL” to send the identity verification address to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first, tap on the “Identity” option to continue.
Then a screen like the one below will appear. To continue the verification process, first select the document type that suits you and continue.
After selecting the document type, tap on “Upload front side” to continue. After taking a photo of the front side of the document you selected, tap on “Upload back side” and take a photo of the back side of the document and upload it. Make sure the images are clear and the information in the photo is easily readable when taking pictures of the front and back sides of your ID card or driver’s license.
Then tap on the “Selfie” option to continue. At this point, your phone’s front camera will open, and you will need to scan your face. Make sure your face fills the camera area as much as possible after the camera opens.
After completing all these steps accurately and completely, your identity verification process will be completed shortly.
How to Deposit TL on Binance TR?
You can easily deposit TL into your Binance TR account from all banks. You can deposit TL 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, Türkiye Finans accounts and trade without interruption. Deposits from other banks can be made 24/7 with FAST up to 50,000 TL. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first go to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and click on “Deposit” from the drop-down menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should click on the “Other Banks” option to continue.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST to that bank. Now, all you need to do is use the information displayed on the bank’s page to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will be automatically reflected in your Binance TR account wallet.
How to Buy AEVO Coin on Binance TR with TL?
After the deposit process, you can proceed to the TL to AEVO coin purchase step by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, the page below will open. You can go to the TL to AEVO purchase page by typing “AEVO” in the search bar on the right side of this page and clicking on the AEVO/TRY option from the results.
Now the following AEVO trading page will open. On this page, in the red-marked area, you need to enter the price at which you want to buy AEVO in the first box and the number of AEVO you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy AEVO” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) through direct banking channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
With Binance TR, users gain access to market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls, all supported by Binance’s core functionalities.
