| General information | |
|---|---|
| Global rank: | 567 |
| Name: |
Ribbon Finance |
| Symbol: | RBN |
| Current coin price (PHP): | 22.48 ₱ |
| Last hour: | arrow_upward1.87 % |
| Last 24 hours: | arrow_downward-6.26 % |
| Last 7 days: | 1.34 %trending_up |
| Capitalisation (PHP): | 2 768 068 505.93 ₱ |
| Volume 24h (PHP): | 66 357 622.83 ₱ |
| Available supply: | 123 142 439.00 RBN |
| Total coin supply: | -1 RBN |
| Start date: | 2021-05-24 |
Ribbon Finance/Philippine Peso (RBN/PHP) price chart
Ribbon Finance/Philippine Peso (RBN/PHP) capitalisation and volume charts
Ribbon Finance is a comprehensive suite of decentralized finance (DeFi) protocols. Its focus is to facilitate user access to crypto-structured products through a mix of derivatives, lending, and a proprietary on-chain options exchange known as Aevo. With this combination, Ribbon aspires to serve as a one-stop solution for those aiming to optimize their portfolios' risk-return profiles.
Ribbon Finance was co-founded by Julian Koh and Ken Chan.
RBN is the native governance token for Ribbon Finance, fulfilling multiple roles within the ecosystem. It is involved in governance voting and gauge voting, allowing token holders to partake in the decision-making process that guides the platform's development and policies.
Further, RBN is utilized to amplify rewards on staked vault tokens and to "bribe" yield in various currencies. This means RBN holders can potentially increase their yield by using RBN in specific ways within the ecosystem. Additionally, RBN holders are eligible to share in the protocol's revenue, adding another layer of utility to the token.
Ribbon DAO employs a complex set of smart contracts, enhancing the Governor Bravo's standard "one token, one vote" mechanism. It uses a weighted system based on locking RBN to create vote-escrowed RBN (veRBN) tokens. In this system, Ribbon DAO incorporates two tokens: RBN for governance voting and veRBN for governance voting, gauge voting, and other specific functionalities like boosting rewards on staked vault tokens and offering gauge voting bribes in ETH, USDC, and RBN. This approach allows for a more intricate governance structure, as well as a sharing of protocol revenue among token holders.