Ribbon Finance

About Ribbon Finance

Ribbon packaged options strategies into vaults a depositor could enter with one transaction, turning something that previously required active management into a product.

The RBN distribution rewarded early vault depositors first, then widened to users of Hegic and Opyn, the protocols where on chain options trading had actually been happening before Ribbon existed. Reaching outside its own user base for people with demonstrated interest in the category was the notable choice.

A later governance decision around unclaimed tokens and vesting drew scrutiny, and the project is often cited when discussing how airdrop terms can shift after launch.