Ribbon Proposes to Merge into Aevo, Wind Down $RBN token and Launch New token $AEVO

Ribbon Finance proposes to merge into Aevo, positioning Aevo as the sole and unified brand, and wind down the $RBN token and launch a new token $AEVO.

The rebrand will fold Ribbon's product offerings into Aevo' suite of structured products, revamp all of Ribbon's visual elements and communication channels to adopt the Aevo brand, and host new governance and proposals under the Aevo name. $RBN emissions will be set to 0 across all vaults, and allow veRBN lockers to unlock 100% without penalty, stop vault revenue sharing with veRBN locker.

Restructuring Governance and Tokenomics include:

• Launch $AEVO token which governs the options and perpetuals exchange, OTC, the existing structured products and the L2 rollup itself – converting Aevo into a DAO
• Enable $RBN holders to migrate to $AEVO at a 1:1 exchange rate

Aevo is built on Aevo Chain, an optimistic roll-up to Ethereum that runs on the OP Stack.

Related: Options Exchange Aevo Announces Public Launch, Offers Bitcoin Trading