Ribbon Finance’s Native Token RBN Surges 19% Amid Options Platform Release

The token was trading at 25 cents ahead of the launch of Ribbon’s on-chain options exchange, Aevo.

AccessTimeIconMar 15, 2023 at 4:34 p.m. UTC
Updated May 9, 2023 at 4:10 a.m. UTC

RBN, Ribbon Finance’s governance token, surged 19% in the past 24 hours ahead of the launch of Aevo, Ribbon’s on-chain options exchange.

The token’s price increased 18.9% to 25 cents, according to data from CoinGecko. While the token’s volume jumped more than 477% to over $4.2 million in the same time period, the number of wallets holding RBN has remained flat around around 4,200, according to blockchain analytics firm Nansen.

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Unique RBN addresses (Nansen)

Ribbon Finance, a suite of decentralized finance (DeFi) protocols known for providing access to users with several on-chain structured products, will soon be launching Aevo, an on-chain options exchange where Ribbon’s options contracts will settle. Aevo was initially set to launch in the fourth quarter of 2022 but has yet to be open to the public.

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RBN token seniority distribution (Nansen)

“The majority of the tokens are held by long-term investors and the spike could be a sign of insiders and true believers doubling down, especially if new wallets are stable, which they largely are,” Andrew Thurman, Nansen’s head of research, told CoinDesk.


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Sage D. Young is a tech protocol reporter at CoinDesk. He owns a few NFTs, gold and silver, as well as BTC, ETH, LINK, AAVE, ARB, PEOPLE, DOGE, OS, and HTR.

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