The community-backed proposal obtained resounding help, with a formidable approval charge of 99.68%, signaling a decisive mandate for the merger.
Ribbon Finance, identified for its modern structured merchandise on the blockchain, set its sights on a brand new path by launching the proposal to merge with Aevo and endure a complete restructuring of governance and token economics. The merger entails vital modifications which can be set to raise Aevo’s place because the premier venue for on-chain derivatives buying and selling, ushering in a brand new period for the platform.
One of many key elements of the merger entails the phasing out of the unique Ribbon Finance token, RBN, and the introduction of a recent token named AEVO. The migration will see RBN token holders obtain a one-to-one alternate ratio for AEVO tokens, paving the best way for a seamless transition.
Aevo’s imaginative and prescient revolves round turning into the final word vacation spot for on-chain derivatives buying and selling, comprising exchange-traded choices, perpetual contracts, OTC derivatives, and a spread of structured merchandise, together with passive and energetic funding choices. By integrating Ribbon Finance’s choices into Aevo’s suite of structured merchandise, the platform aspires to evolve right into a DeFi super-app, boasting a complete array of perpetuals, choices, and yield merchandise underneath one roof.
The merger will allow customers to navigate effortlessly between Aevo’s alternate, OTC, and structured merchandise, enhancing the general consumer expertise. Moreover, this pivotal transfer brings the deployment of structured merchandise straight onto the Aevo rollup nearer to actuality, unlocking vital synergies between the alternate and vaults.
The proposal additionally underlines the significance of a unified model id for each Ribbon and Aevo. As a part of this endeavor, all elements of Ribbon Finance, together with the consumer interface, visible design parts, communication channels, and governance protocols, might be seamlessly built-in underneath the Aevo model umbrella. This unified method is anticipated to maximise the merchandise’ success and progress whereas fostering confidence and alignment amongst long-term token holders.
The plan encompasses two vital modifications: first, positioning Aevo because the singular model encompassing each Ribbon Finance’s choices and Aevo’s structured merchandise on its alternate, and second, initiating the transition from Ribbonomics to AEVO, the novel token that may govern the Aevo protocol and chain on the Ethereum mainnet. Detailed discussions on the brand new AEVO tokenomics might be offered in a subsequent proposal.
Virtually, the merger will contain strategic steps, together with migrating Ribbon Finance from its current area (app.ribbon.finance) to Aevo’s methods platform (methods.aevo.xyz). Moreover, Aevo’s visible id might be applied throughout Ribbon’s structured merchandise, and the Aevo model will exchange Ribbon Finance on all inside and exterior websites, communication channels, and labels.
With the resounding approval from the group, the merger between Ribbon Finance and Aevo is about to redefine the DeFi panorama. Aevo’s ambition to be the main on-chain derivatives platform, together with the combination of Ribbon’s choices, holds the promise of opening new horizons for decentralized finance, providing a extra seamless and complete buying and selling expertise to customers worldwide.
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