Ribbon Finance (RBN), a decentralized platform that creates structured products for yield generation, has seen its price soar by 60% in the past week. The main reason behind this surge is the addition of AEVO, a new project by the same team behind Ribbon Finance, to the Binance Launchpool. AEVO is a decentralized derivatives exchange that offers options and perpetual trading. The inclusion of AEVO in the Binance Launchpool signals the confidence and support of the leading cryptocurrency exchange for the Ribbon Finance team and their vision.

What is Ribbon Finance and what does it do?

Ribbon Finance is a platform that uses financial engineering to create structured products that deliver sustainable yield. Structured products are packaged financial instruments that use a combination of derivatives to achieve some specific risk-return objective, such as betting on volatility, enhancing yields, or protecting the principal.

Ribbon Finance’s first product is the Theta Vault, which automates a covered call strategy to earn high yield on ETH. The Theta Vault sells out of the money call options on a weekly basis, and collects the premiums as income. The risk of this strategy is that the depositors may miss out on some upside potential if ETH price rises significantly, but they will still profit in USD terms.

Ribbon Finance is based on the Solana blockchain, which offers fast, cheap, and scalable transactions. The platform also has a deflationary mechanism, as 1% of every transaction is burned, reducing the total supply over time.

What is AEVO and how is it related to Ribbon Finance?

AEVO is a new project that is built by the same team behind Ribbon Finance. AEVO is a decentralized derivatives exchange that focuses on options and perpetual trading. Options are contracts that give the buyer the right, but not the obligation, to buy or sell an underlying asset at a specified price and time. Perpetuals are contracts that mimic the price of an underlying asset, but have no expiry date.

AEVO aims to provide a user-friendly and secure platform for traders to access the derivatives market, and to offer a variety of products and features, such as:

Customizable strike prices and expiry dates for options
Dynamic funding rates and leverage for perpetuals
Automated market making and liquidity provision
Governance and staking benefits for AEVO token holders

AEVO is related to Ribbon Finance, as both projects share the same vision of creating innovative and accessible financial products using blockchain technology and artificial intelligence. AEVO also offers an attractive proposition for RBN holders, as they have the option to convert their RBN tokens to AEVO at a 1:1 rate, with a two-month lock-up period, while adhering to the original vesting schedule.

How did Binance Launchpool boost Ribbon Finance price?

Binance Launchpool is a platform that allows users to stake their BNB and BUSD tokens to farm new tokens for free. Binance Launchpool has introduced AEVO as its 48th project, and has allocated 10,000,000 AEVO tokens for the farming period, which will last for five days, starting from March 8, 2024.

The introduction of AEVO to the Binance Launchpool has boosted the Ribbon Finance price, as it has increased the demand and exposure for both RBN and AEVO tokens. The inclusion of AEVO also signifies the endorsement and recognition of the Ribbon Finance team and their projects by Binance, the world’s largest cryptocurrency exchange by trading volume.

According to CoinGecko, RBN price has surged by 60% in the past week, from $0.48 to $0.77. The token has also reached an all-time high of $0.90 on March 7, 2024. The token has a market capitalization of $77 million, and a circulating supply of 100 million tokens.