
Author: Kyle
Translator: Kyle
Reviewer:
Source: Content Guild Translation
Originally published at: PermaDAO
Original link: https://permadao.notion.site/English-Template-1a527607c43980268cb6e1912ded413a?pvs=4
Token Overview
$AO is the native token of the AO Network, officially launched for trading on February 9, 2025, alongside the AO mainnet. It follows a 100% fair issuance model, with no pre-mining, pre-sale, or pre-allocation. The token is primarily used to reward contributors, pay for computational services, and incentivize ecosystem development.

Source: ao.arweave.net
The $AO economic model combines Bitcoin-style halving with dynamic minting rules, with new tokens minted every five minutes and inflation decay controlled through a "smooth halving" mechanism.
- Contract Address: 0syT13r0s0tgPmIed95bJnuSqaD29HQNN8D3ElLSrsc
- Total Supply: 21 million
- Circulating Supply: 3,346,162 tokens (approximately 15.9% of total supply, as of February 22, 2025)
- Current Price: $40.7
- Circulating Market Cap: $136 million
- FDV (Fully Diluted Valuation): $850 million
$AO Price Performance

$AO 1-Hour Candlestick Chart (Source: Permaswap, Timestamp: February 22)
After becoming tradable on February 9, $AO initially showed a downward trend. Between February 10 and 18, the price remained in a narrow range of $20–$30. However, starting February 18, the price broke out of this range, reaching a peak of $54, marking a 180% increase within a week, indicating strong buying momentum. Subsequently, the market corrected, pulling back to the $40.7 support level. There were also flash spikes to $58 and $118, reflecting intensified market volatility. Currently, $AO stands at $40.7, with a circulating market cap of $136 million and an FDV of $850 million.
$AO Trading Volume
Platform | Type | Trading Mode | TVL | 24H Volume (USDT) | Total Volume (USDT) |
Permaswap | DEX | Spot | $5.3M | $803K | $18M |
Botega | DEX | Spot | $2M | $348K | $6.3M |
MEXC | CEX | Pre-market | - | $4.8K | $227K |
Lbank | CEX | Pre-market | - | $1.9M | $21.5M |
As of February 22, 2025, the table above provides an overview of $AO trading volume across both DEX and CEX platforms:
- DEX Analysis: Permaswap leads in liquidity, with a TVL of $5.3 million, a 24-hour trading volume of $803K, and a total historical trading volume of $18 million. Botega, with a $2 million TVL, recorded $348K in daily trading volume and a total of $6.3 million in cumulative transactions. Together, these two platforms form the core liquidity pool for $AO, with Permaswap accounting for 74% of the DEX market share.
- CEX Analysis: Centralized exchanges exhibit a significant disparity in trading activity. Lbank stands out with a 24-hour volume of $1.9 million and a total historical volume of $21.5 million, far exceeding MEXC, which reported a daily trading volume of just $4,800 and a total volume of $227K.
It is important to note that $AO trading on Lbank and MEXC is still in the pre-market phase, meaning deposits and withdrawals are not yet available. Since AO mainnet has only recently launched, these exchanges require time to integrate with it. As a result, prices on CEXs may deviate significantly, and trading volumes might not accurately reflect actual market conditions. For traders, DEX platforms may currently offer a more reliable representation of $AO’s real market value, making it advisable to consider DEX data for a more accurate assessment.
Conclusion
At present, $AO prices on CEXs may not be fully reliable, while trading activity on DEXs remains somewhat constrained, with occasional execution delays. This is mainly due to AO mainnet optimizations still being in progress and a large number of traders yet to enter the market. The future price trajectory of $AO will depend on the development of the mainnet’s performance and ecosystem, liquidity expansion, and market consensus on the FDV-to-circulating market cap ratio (currently 6.25x).

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