Ribbon Finance is a new protocol that creates crypto structured products for DeFi. 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 principal protection. Ribbon currently offers a high yield product on ETH which generates yield through an automated option strategy. Ribbon will continue to expand the product offerings over time, including community-generated structured products.
Ribbon Finance is airdropping their new governance token “RBN” to various early participants. A total of 30,000,000 RBN has been allocated to past & existing users of Ribbon products, active Ribbon Discord members and users of existing options protocols on Ethereum: Hegic, Opyn, Charm, and Primitive.
- Visit the Ribbon Finance airdrop claim page.
- Connect your ETH wallet.
- If you’re eligible, then you will be able to see your claim amount.
- Click on the RBN amount and claim to get your tokens.
- A total of 21M RBN has been allocated to past & existing users of Ribbon products, a total of 5M RBN has been allocated to members of the Ribbon Discord who’ve sent >5 messages and a total of 4M RBN has been allocated to users of existing options protocols on Ethereum: Hegic, Opyn, Charm, and Primitive. For detailed information regarding the airdrop distribution, see this Medium article.
- The claimed RBN tokens will remain non-transferable and can only be used for voting. It may only become transferable later on if there is a strong governance turnout.
- For more information regarding the airdrop and RBN, see this Medium article.