An Orderbook-Driven Options Dex
Ribbon Finance, the defi options vault protocol, announced the upcoming launch of a decentralized options exchange called Aevo earlier last week. This plans to be the first order book based decentralized options protocol with over 100+ instruments offering multiple strikes and expiries on each instrument with deep liquidity.
The core issue that Aevo intends to solve is the limited scope of current decentralized options trading protocols. Through the addition of an orderbook, a portfolio margining system and the planned addition of hundreds of instruments (spread across asset type, strike, maturities, etc.), Aevo intends to build a next-generation options exchange.
Ribbon eventually plans to settle all of their vault trades on the platform upon its launch allowing for users to more easily trade in and out of vault positions. It plans to be its own Ethereum roll up in order to meet the aforementioned promises while having affordable gas fees to trade. The team plans to launch a closed beta sometime this month while launching their mainnet by the end of the year. It currently remains to be seen if and how any value will be accrued to the Ribbon protocol or if Aevo will have its own token.
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