Tying the Ribbon on Structured Products

What is Ribbon?

Nearly two years ago, Ribbon introduced decentralized options vaults (DOVs) to Ethereum DeFi. Through the offering of Theta Vault, the protocol attracted a peak of $300M TVL before trickling down to $80M TVL today. While the Theta Vault was Ribbon’s first product, Ribbon also offers additional structured products:

1. Ribbon Treasury - a DAO treasury management tool, granting DAOs access to options vaults
2. Ribbon Earn - a “principal-protected” exotic options vault offering double digit USDC yields
3. Ribbon Lend - an unsecured USDC lending platform to enable lending to market makers
4. Aevo - a coming options-focused rollup that seeks to bring deep liquidity to decentralized options

Through its suite of products, Ribbon offers fairly complex strategies with a simplified user experience. Ribbon also incentivizes vault deposits with a steady 250,000 RBN per week token emission. RBN holders can lock their RBN for veRBN, which grants control over voting on which vaults receive the biggest slice of RBN rewards. veRBN also grants users the right to receive 50% of all protocol revenues, distributed in ETH, on a weekly basis. Purchasing and locking RBN makes sense if a user plans to actively use Ribbon’s various structured products or envisions the protocol making substantial revenues in the future.