Ribbon Finance to open up ethereum interest with option exchange
Ribbon Finance to open up ethereum interest with option exchange
- The Defi derivative platform Ribbon Finance hopes to be able to build on the success of its earlier product launches
- ribbon said it aims to use the excitement to use ether post-merge
The Defi derivative platform Ribbon Finance announced on Tuesday the start of its etheric-based option exchange, which enables users to act directly from their smart wallets.
Under the name Aevo, the executives of the stock exchange hope to generate $ 100 million in daily volume within a period of six months by encouraging dealers to use more than 100 instruments with different expiry data.
That may be easier to say than done when you consider the recent downturn and bear market cycle from Crypto, who has used up the liquidity as well and has driven small investors to flee.
Nevertheless, the founders put their hopes for the honeymoon of Ethereum after the merger, which could help to heat the investors for an otherwise frosty phase on the spot market.
Since September, the total trade volume for ether options at Deribit, OKX, Bit.com CME and HUOBI have remained constant at around $ 11 billion. This is a decline of around $ 15 billion in May. Glassnode data are displayed
"Since the majority of the total value of our platform comes from the Ethereum ecosystem, we always considered it our home stadium," said Julian Koh, CEO from Ribbon. aevo will initially start with ETH options and then bring BTC and other contracts onto the market in the following months, said Ribbon in an explanation. This is not the first product launch of Ribbon. The platform focuses on structured products - a category known in traditional finance, but is on the rise in Defi - and says it invented the concept that is known as "Nofollow noopener" Target = "_ Blank" href = "https://ribbonfinance.medium.com/ribbonv2-f1e64f956692"> Decentral option resore
Before the invention of DOVS, option strategies have so far only been accessible to accredited investors via the out -of -the -counter trade.
It also introduced lending-and-earning products that offer users principal returns that are intended to protect against loss of the underlying assets.
To this day Ribbon said that its products acted an option volume of more than $ 6 billion and at the same time are present on Ethereum, Avalanche and Solana.
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The article Ribbon Finance to Tap Ethereum Interest With Options Exchange is not a financial advice.
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