Why is Ribbon Finance (RBN) crypto drawing attention?

Highlights 

• Ribbon Finance (RBN) is a protocol that creates structured crypto products for DeFi.
• On March 22, it announced receiving US$8.75 million from venture capital firm Paradigm.
• The Ribbon token’s total supply is one billion RBNs.

Ribbon Finance (RBN) on Tuesday announced receiving US$8.75 million in a Series A+ funding round led by venture capital firm Paradigm, which supports Web3 and crypto companies and protocols. The token traded 0.46% down at US$1.36 at 9:38 am ET after the announcement.

Ribbon Finance is growing rapidly and has been hiring for different roles. The company plans to develop new risk products for decentralized finance over the next few months. 

Ribbon initially intends to leverage Paradigm’s technical expertise in mechanism design & engineering to build a structured products platform in DeFi.

But the goal is to create innovative DeFi-native risk products, adopt a multi-chain scaling approach, and scale the current platform for better execution and improved yield.

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What is Ribbon Finance (RBN)?

Ribbon Finance is a protocol that creates structured crypto products for decentralized finance (DeFi). It uses financial engineering to develop structured products that can deliver sustainable yield. However, developers can create other arbitrary products by combining DeFi derivatives.

Ribbon’s first product, Theta Vault, focuses on yield through a simplified, automated options strategy, where a layperson can also earn yield.

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Theta Vault is a high yield product on ETH and generates yield through an automated option strategy. In future, it plans to create community-generated structured products or packaged financial instruments with a specific risk-return objective, achieved through a combination of derivatives. The risk-return aim could be betting on volatility, protection, enhanced yield, etc. 

Recently, Ribbon Finance was deployed on Solana and Avalanche networks, and it plans to expand its accessibility to other chains. 

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Data Source: coinmarketcap.com

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RBN Token details:

The current market capitalization of Ribbon Finance’s RBN token is US$70 million. Its 24-hour volume increased by 8.98% to US$12.37 million. RBN’s circulating supply is 51.53 million, and the total supply is one billion.

Currently, there are around 3,556 RBN token holders. RBN is available for trade on Coinbase Exchange, BingX, Gate.io, MEXC, and BTCEX cryptocurrency exchange.

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Bottomline

Ribbon Finance’s automated strategy helps retail investors to invest in complicated crypto derivatives products. Its automated strategy allows them to earn high yields on Bitcoin, Ether, etc. The crypto market is set to see more complex financial products in future, with new structured DeFi products evolving. However, the crypto market is highly volatile and complex; hence, investors should apply due diligence before investing in the market. 

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