Ribbon Finance is a new protocol that creates crypto structured products for DeFi. Structured products are packaged financial instruments that use a combination of derivatives to achieve some specific risk-return objective, such as betting on volatility, enhancing yields or principal protection. Ribbon currently offers a high yield product on ETH which generates yield through an automated option strategy. Ribbon will continue to expand the product offerings over time, including community-generated structured products.

Ribbon Finance is airdropping their new governance token “RBN” to various early participants. A total of 30,000,000 RBN has been allocated to past & existing users of Ribbon products, active Ribbon Discord members and users of existing options protocols on Ethereum: Hegic, Opyn, Charm, and Primitive.

Step-by-Step Guide:
  1. Visit the Ribbon Finance airdrop claim page.
  2. Connect your ETH wallet.
  3. If you’re eligible, then you will be able to see your claim amount.
  4. Click on the RBN amount and claim to get your tokens.
  5. A total of 21M RBN has been allocated to past & existing users of Ribbon products, a total of 5M RBN has been allocated to members of the Ribbon Discord who’ve sent >5 messages and a total of 4M RBN has been allocated to users of existing options protocols on Ethereum: Hegic, Opyn, Charm, and Primitive. For detailed information regarding the airdrop distribution, see this Medium article.
  6. The claimed RBN tokens will remain non-transferable and can only be used for voting. It may only become transferable later on if there is a strong governance turnout.