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.
Updated May 9, 2023 at 4:10 a.m. UTC
![RBN/USD chart on Coinbase (Cryptowatch)](https://www.coindesk.com/resizer/7XmBPnE8dST898eqAbziB0_NsOc=/567x295/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/NEXQRUVSL5AJLFQJMJUNPTM5KM.png)
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.
![Unique RBN addresses (Nansen)](https://www.coindesk.com/resizer/O8ayLOKg5ifpyg0f8y6zCZmNP8c=/560x420/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/VH72XGOHLJBORO27C23ON3NBHA.jpg)
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.
![RBN token seniority distribution (Nansen)](https://www.coindesk.com/resizer/-offZng9vi5ohVUqU7u1rkZ00Fk=/560x420/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/T6WK6MUPYRFJDFKDQIKQCXYGMM.jpg)
“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.