Before trading any crypto assets it is important to understand the risks. This overview summarizes certain risks associated with RBN.
No securities regulatory authority has expressed an opinion about RBN, including an opinion that RBN itself is not a security and/or derivative.
Token Description & Project Background
Ribbon Finance is a decentralized finance (DeFi) protocol that automates the yield generation process. Users can boost their investment returns while simplifying their overall yield farming activities by way of Ribbon's automated option selling strategies, generating revenue from the premium gained from selling options ().
The RBN token was airdropped to early community supporters in May of 2021.
RBN is the protocol’s governance token.
Originally announced in August of 2021, Ribbon V2 focused on the decentralization of Ribbon's "vaults."
Ribbon, per, had earlier launched with two primary vaults: Theta Vaults, Ribbon's main offering, allowing investors to automate relatively lower-risk "covered call" strategies which can earn significant yields on ETH or wBTC; and Treasury Vaults, taking Theta Vaults' premise and applying it to decentralized autonomous organizations (DAOs).
The core vault runs a covered call strategy and reinvests yield earned back into the vault, compounding depositor yields over time.
The protocol currently runs on Ethereum mainnet, Avalanche and Solana.
Ribbon was co-founded by Julian Koh, who is a former Coinbase software engineer, according to. The project was announced in February 2021, according to a by the team.
Risks of RBN
Like an investment in other crypto assets, there are some general risks to investing in RBN. These include: (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to thestatement.
In addition to these general risks, an investment in RBN is subject to the following specific risks:
- Ribbon Finance faces competition from other DeFi protocols. Any potential success associated with RBN depends on Ribbon Finance’s rate of adoption.
We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with RBN. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.
The RBN community and Ribbon Finance’s founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of RBN have no recourse to the RBN community, Ribbon Finance team, or Uphold if RBN declines in value for any reason.
Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.
Uphold’s Evaluation Process
Prior to listing RBN on the Uphold Platform, Uphold performed due diligence on RBN and determined that RBN is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following:
- The creation, governance, usage, and design of RBN, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community.
- The supply, demand, maturity, utility, and liquidity of RBN.
- Any marketing materials put forward by the RBN social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
- Material technical risks associated with RBN, including any code defects, security breaches and other threats concerning RBN and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
- Legal and regulatory risks associated with RBN, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of RBN.
Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.
Uphold users should read thestatement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.
Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following. Please also review the for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and statement.
Last updated on June 21, 2023.
How to buy Ribbon Finance (RBN)
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