The Block14 minutes ago

Published on January 23, 2024 15:10 GMT+00:00edited on January 23, 2024 15:14 GMT+00:00

Derivatives platform Aevo intends to open up its Ethereum-based rollup to support other protocols, in a bid to expand its ecosystem.

"The primary angle here is we are currently built on our own rollup — but Aevo exchange is currently the only app on this rollup," Ribbon Finance co-founder Julian Koh told The Block. "Our plan is basically to open this up for other [developers] as well and build an ecosystem around our exchange."

Aevo is a platform for options and derivatives trading. It operates on its own rollup, which is a Layer 2 network built using the OP Stack and running on top of the Ethereum blockchain. The platform is also switching in the near term to use Celestia to store some of its transaction data in a move to save costs.

Looking to drive growth

Expanding its rollup is …