what's Ribbon Finance?
Ribbon Finance is a decentralized finance (DeFi) protocol built on Ethereum that specializes in structured products, enabling users to access options-based strategies for yield generation on assets like BTC and ETH. It offers automated vaults, known as Theta Vaults, which combine options selling with hedging mechanisms to provide sustainable yields while managing risk through on-chain execution. The protocol leverages financial engineering to create products like covered calls and put spreads, democratizing access to sophisticated derivatives previously limited to traditional finance. Users can deposit assets into vaults that automatically manage option positions, with governance handled by the RBN token holders who influence protocol parameters and upgrades.
Ribbon Finance token holders declined 2.2% to 6,500 over 30 days by March 26, 2026.
contract
ethereum
Experienced a 2.2% decline in token holders over 30 days, with current holder count at 6,500 as of March 26, 2026.
The team takes action against inactive accounts, liquidating positions that haven't been touched in 2 years.
$2.7 million exploit confirmed, with plans to repay active users using funds from dormant accounts.
Ribbon Finance experiences an attack attributed to oracle configuration issues.
All vaults shut down permanently with depositors facing 19% reduction on positions, DAO contributes $400k to offset exploit losses reducing net theft to $2.3M, 6-month withdrawal window begins December 12 with potential full recovery after final distribution.
Project confirms $2.7M USD loss from legacy DOV vault exploit, with Aevo exchange remaining secure and unaffected. Coordination with CEXs and security partners underway to track stolen funds, with depositor resolution update expected within 24 hours.
A hack occurs due to upgraded oracle code vulnerability that permitted unauthorized price setting for new assets, which when combined with the ability to use any underlying asset to create otokens led to the exploit.
RBN converts to AEVO under new AGP-3 tokenomics proposal, with 6.9% of AEVO supply burned and new features including buybacks, staking rewards with USDC fee distribution, and treasury-managed liquidity positions.
Options protocol rebrands from Ribbon to Aevo, following industry-wide rebranding trend.
First public blockchain selected for Reserve Bank of Australia's official pilot program, partnering with ANZ bank and Fireblocks.
Coinbase announces RBN delisting scheduled for June 26.