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Cryptoknowmics 2022-09-28 13:33:37

Ribbon Finance Announces Launch Of Ethereum-Based Options Exchange

Ribbon Finance, known for its on-chain structured products, announced that it is creating an options exchange to increase demand for its services among knowledgeable crypto traders. Aevo, unveiled at Tokens 2049 in Singapore, will initially let users trade options on ether, with ambitions to introduce options on Bitcoin (BTC) and other tokens in the upcoming months. Ethereum Options Exchange According to Ribbon founder Julian Koh, the options exchange should experience daily trading volumes of over $100 million in the coming months. He also stated that the Ethereum ecosystem had “gained momentum” following the Merge event earlier this month. The decision to start an Ethereum options exchange is also consistent with Ribbon’s earlier offerings. The project’s most well-known product, Theta Vaults, generates yield for consumers by using an automated options strategy. Products From Ribbon Finance’s Portfolio Ribbon Finance launched Ribbon Earn and Ribbon Lend, which allow users to earn and lend cryptocurrency, respectively. Market makers who have gone through KYC and AML procedures can apply for uncollateralized loans made using Lend. The Decentralized Option Vaults (DOV) product from Ribbon is well-known in the cryptocurrency community because it enables users to create income using various strategies that utilize financial instruments, including options, derivatives, and other fixed-rate crypto products. Users receive over 25% in...

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