Why is Ribbon Finance (RBN) crypto in focus?

Highlights

• Ribbon Finance’s protocol is used to create structured products to deliver yield sustainably.
  
  
• Ribbon Finance (RBN) will hold a townhall at 4 pm UTC on Thursday, Jan 13, 2022.
  
  
• The RBN token gained 158% in the last 30 days.

The Ribbon Finance (RBN) crypto token has gained traction on Tuesday after it announced organizing a townhall at 4 pm UTC on Thursday, Jan 13, 2022.

The townhall is expected to discuss a roadmap for 2022. The event will also be available on its Discord platform, it tweeted.

The RBN token was up 2.89% to US$3.82 at 1:08 pm ET on Tuesday after the announcement.

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What is Ribbon Finance?

Ribbon Finance is a protocol. It creates crypto-structured products for DeFi. The protocol uses products that can deliver yield sustainably.

Developers can create arbitrary structured products with a combination of DeFi derivatives, such as options, futures, and fixed income, to increase the risk-return profile.

What are structured products?

Financial instruments created by combining derivatives for specific objectives are called structured products. For example, the risk-return objective can enhance yield or protect the principal amount, etc.  

Ribbon has a high-yield product on ETH. It uses an automated option strategy to make yield. Its product, Theta vault, automates a covered call strategy to get a high yield on ETH. The risk involved with the covered call strategy is to get a guaranteed yield.  

Theta Vault earns yield weekly through the automated options selling strategy for deposits. The vault’s yield is reinvested into the strategy to let it compound over time.

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Robbin token holders

Currently, there are 3,729 Robbin token holders. The top 10 holders have control over 94.26% of the total holdings, as per coinmarketcap.com. The token touched an all-time high of US$5.54 on Oct 7, 2021. Its all-time low of US$1.31 was recorded on Dec 15, 2021.

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The token has a market capitalization of US$195,518,532. Its 24-hour trading volume through Tuesday afternoon was US$29,031,941, up 50.93%. Its circulating supply is 51,170,518.50, and the total supply is 1,000,000,000.

Where is it available?

The token can be purchased from Gate.io, Coinbase Exchange, Uniswap (V3), MEXC, ZT, and XT.com. 

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Why is Ribbon Finance (RBN) crypto in focus?

Bottomline

The cryptocurrency market is volatile and prone to hacking attacks, given the lack of proper regulations. Hence, investors should apply caution before investing in digital assets.