What is Ribbon Finance?
Ribbon is a DeFi system that uses financial engineering to make yield farming sustainable. The protocol allows users and developers to create software that combines different DeFi tools. The aim is to optimise the risk-return ratio for the user by combining options, futures and passive strategies. The result is what the official website calls ‘structured products’. A set of financial instruments combined in a package with unified objectives, risks and benefits.
Why follow Ribbon Finance?
The governance token is called RBN, launched a few months after the creation of the Ribbon project through the ERC-20 standard. The roadmap foresees the development of RBN also as a utility token. At present, the application can be used on three different chains: Ethereum, Avalanche and Solana. The structured products on the other hand are currently mainly based on the cryptocurrencies ETH, AVAX, USDC, WBTC and SOL.
How was it created?
Ribbon Finance’s DeFi platform was launched on the 15th of February 2021. The names of the founders are not mentioned on the official website, but can be traced to Julian Koh and Ken Chan. The official blog gives space to the technology rather than individual personalities, accurately tracing the ecosystem’s path. From its foundation, to the Airdrop of the token (which took place in May 2021) to the most anticipated integrations. The community actively participates in building the platform through Discord and Twitter.
Stay up to date with the price of Ribbon Finance
Create your account in 3 steps on Young Platform
What does the Young Platform do?
Young Platform is the European exchange that blends simplicity with security, already chosen by over 2 million people for buying and selling cryptocurrencies. Backed by significant entities such as Azimut, United Ventures, and Banca Sella, Young Platform eases your entry into the world of cryptocurrencies with a user-friendly interface, easy-to-use trading tools, educational courses, and up-to-date news, all designed to be accessible to everyone. And the best part? It's completely free.
Check out the Top movers
Take a look at the prices of cryptocurrencies that have reached higher volatility in the last 24 hours and catch market trends.
