- Ribbon Finance intends to integrate with Aevo and launch the $Aevo token.
- The merger will make Aevo a multi-purpose decentralized finance platform.
- The proposal shares details on the rebrand of Aevo.
Last September, Ribbon Finance, a crypto derivatives platform simplifying the process of yield generation, launched its options exchange, Aevo.
Ten months later, Ribbon Finance announced its plan to merge with Aevo, its options exchange and the most prominent options trading platform in DeFI.
On the 12th of July, 2023, Ribbon Finance announced its plans to merge with Aevo, an order-book-based decentralized exchange.
The Ribbon Finance team shared the merger details through a governance proposal.
According to the proposal, the rebrand will be centered on the unification of Ribbon Finance and Aevo. Aevo will be the center product of the team’s development.
Before the governance proposal was shared with the forum, the team’s initial vision was for “Aevo to become the best place for derivatives on-chain. This includes exchange-traded options and perpetual contracts, over-the-counter derivatives contracts, and structured products including both passive (vaults) and active products,” the proposal reiterated.
As the proposal states, Aevo is a highly robust options platform with the highest success record in decentralized finance option trading. Leveraging the achievements and efficient features of Aevo, a merger with Ribbon Finance supports the team’s goal and vision for Aevo.
The Ribbon Finance Documentation also confirms the goal when it states that,
“Aevo aims to become the #1 venue to trade options on-chain.”
The proposed merger between Aevo and Ribbon Finance is a progressive move to achieve the goals set for Aevo.
The Rebrand: What to Expect
The Ribbon Finance team proposed two changes. Firstly, Ribbon Finance and Aevo will unite to become just Aevo. The rebrand does not apply to just the name, but every detail of Ribbon Finance, like the user interface, communication channels, governance, etc, will be rebranded into Aevo.
The proposed merger also suggests the wind-down of Ribbon Finance tokenomics. Ribbonomics will be shut down, and all $RBN holders and lockers will migrate to $AEVO. Although the official token of Aevo has not been launched on $ETH Mainnet, existing holders and lockers of Ribbon Finance’s native cryptocurrency token ($RBN) can swap their token to $AEVO at a 1:1 exchange rate. $veBRN lockers will be allowed to unlock without any penalty and the revenue sharing of the vault will be halted.
The communication channels of Ribbon Finance, like Discord, Twitter, and others, will be adopted in the Aevo rebrand.
The proposed merger also suggests a change of the website from the app.ribbon.finance to strategies.aevo.xyz.
Aevo’s visual identity and design will be applied to Ribbon Finance products, and governance proposals or updates will be hosted under Aevo’s name.
Ribbon Finance
Ribbon Finance is an Ethereum-based crypto derivatives platform that offers users crypto-structured products and investment strategies. The crypto derivatives platform provides a simple and innovative process of yield generation through its one-click deposit vaults.
Aevo
Aevo is an options trading decentralized exchange platform launched by Ribbon Finance.
It is an order book-based DEX developed on a custom EVM roll-up.
Ten months after its launch, Aevo has broken barriers and reached a pinnacle of achievement as the largest options trading exchange platform in DeFI.
The Ribbon Finance team plans to rebrand into Aevo.
Conclusively, this ambitious proposal will solidify the strength of the two efficient crypto derivatives and option trading platforms.
