Aevo Review 2026
About Aevo
Aevo is a high-performance decentralized exchange built on a custom Ethereum L2 rollup (using the Optimism stack) that specializes in options and perpetual contracts trading. The exchange operates an off-chain central limit order book (CLOB) with on-chain settlement, combining the speed and UX of centralized exchanges with the security and transparency of onchain protocols. Aevo was founded in 2022 by the team behind Ribbon Finance, bringing deep options market-making expertise to the DeFi space. The platform supports 144 perpetual pairs and a range of options markets, with up to 20x leverage on perpetuals and unique pre-launch token futures. The AEVO token launched in March 2024 and serves as the protocol's governance and staking token, enabling holders to participate in platform governance, earn staking rewards, and unlock up to a 20% trading fee discount. Aevo's custom L2 can process over 5,000 transactions per second, ensuring fast execution even during periods of high network congestion. The exchange integrates with Ethereum's broader DeFi ecosystem, using USDC as the primary collateral asset while also accepting USDT, ETH, WBTC and other assets, and supporting cross-chain deposits from Ethereum, Arbitrum, Base, and Optimism. Aevo stands apart from other DEX perpetuals platforms by offering genuine options markets — a product rare in decentralized trading — alongside perpetuals and pre-launch token futures. All products share a single unified margin account with portfolio margining. The platform does not require KYC for basic trading and is accessible globally, subject to standard restrictions in the US, Canada, and China.
KEY FACTS
- CUSTODY
- non-custodial
- TAKER FEE
- 0.08%
- MAX LEVERAGE
- 20x
- NETWORKS
- Ethereum, Arbitrum, Base
- KYC REQUIRED
- No
- FOUNDED
- 2022
Fee Structure
| MARKET | TAKER | MAKER |
|---|---|---|
| Perpetuals | 0.08% | 0.05% |
| Best Tier | 0.064% | 0.04% |
Leverage & Margin
Security
Pros & Cons
PROS
- + Rare on-chain options markets alongside 144 perpetual pairs — one of the only DEXs offering vanilla options and perps under a single unified margin account
- + Competitive perpetual fees of 0.08% taker / 0.05% maker, with options at 0.05% / 0.03% and up to a 20% fee discount for AEVO stakers
- + No KYC required — non-custodial trading by connecting any EVM wallet, accessible globally except the US, Canada, and China
- + High-performance custom OP-stack L2 processing 5,000+ TPS with off-chain order matching and on-chain settlement
- + Multi-collateral margin — accepts USDC, USDT, ETH, WBTC, weETH and aeUSD, plus pre-launch token futures to trade upcoming launches before listing
CONS
- − Maximum 20x leverage on perpetuals is well below competitors like GMX (100x) and Avantis (500x), limiting appeal for high-leverage traders
- − TVL of roughly $15M is far smaller than leading perpetual DEXs such as Hyperliquid, which can reduce depth on lower-volume pairs
- − The full 20% fee discount requires staking AEVO with lock-ups of up to 12 months, so casual traders pay standard rates
- − Geo-restricted in the US, Canada, and China under the platform's Terms of Service
- − No social or copy trading — you cannot automatically mirror other traders' positions
Frequently Asked Questions
Is Aevo safe?
Aevo is a non-custodial exchange where users keep control of funds through their own wallet. Built on an Optimism-stack Ethereum L2, all trades settle on-chain for transparency. Its smart contracts have undergone independent security audits, and the protocol maintains an insurance fund to cover shortfalls during liquidations. Users should still use hardware wallets and verify contract addresses.
What are Aevo trading fees?
Aevo charges 0.08% taker and 0.05% maker on perpetual futures, and 0.05% taker / 0.03% maker on options. Pre-launch token futures cost 0.25% taker with a 0.10% maker rebate. Staking AEVO can reduce trading fees by up to 20%. All fees are deducted automatically from position collateral on execution.
Does Aevo require KYC?
No, Aevo does not require KYC verification for basic trading. Users can start trading immediately by connecting an EVM-compatible wallet. However, the platform restricts access from the United States, Canada, and China — residents of these countries should not use the platform even with a VPN.
What leverage does Aevo offer?
Aevo offers up to 20x leverage on perpetual futures and up to 2x on pre-launch token futures. Both cross-margin (shared collateral across positions) and isolated-margin modes are supported. Maximum leverage varies by asset — major assets like ETH and BTC typically have higher leverage allowances than smaller-cap tokens.
What is the Aevo referral program?
Aevo's referral program gives both sides 10% of the referee's trading fees. Referrers earn 10% of the fees generated by users who sign up with their link, while those referees receive an equivalent 10% rebate on their own perpetual and options fees. Pre-launch trades are excluded from the calculation.
How does Aevo differ from other DEX perpetuals platforms?
Aevo's main differentiator is its focus on options trading — offering genuine onchain vanilla options alongside perpetuals under one unified margin account, a combination found at very few DEX platforms. Its custom Optimism-stack L2 provides high throughput (5,000+ TPS), and its pre-launch futures product lets traders speculate on upcoming token launches before they go live.
What assets can I trade on Aevo?
Aevo supports 144 perpetual futures pairs plus options on major assets including ETH, BTC, and SOL, and unique pre-launch token futures for upcoming projects. Positions are primarily margined in USDC, though Aevo also accepts USDT, ETH, WBTC, weETH and aeUSD as collateral for greater capital flexibility.
Aevo Documentation (docs.aevo.xyz) · CoinGecko derivatives exchanges API · DeFiLlama TVL API (api.llama.fi/tvl/aevo) · Aevo Terms of Service · Aevo staking and referral docs