The community-backed proposal received resounding support, with an impressive approval rate of 99.68%, signaling a decisive mandate for the merger.
Ribbon Finance, known for its innovative structured products on the blockchain, set its sights on a new path by launching the proposal to merge with Aevo and undergo a comprehensive restructuring of governance and token economics. The merger entails significant changes that are set to elevate Aevo’s position as the premier venue for on-chain derivatives trading, ushering in a new era for the platform.
One of the key components of the merger involves the phasing out of the original Ribbon Finance token, RBN, and the introduction of a fresh token named AEVO. The migration will see RBN token holders receive a one-to-one exchange ratio for AEVO tokens, paving the way for a seamless transition.
Aevo’s vision revolves around becoming the ultimate destination for on-chain derivatives trading, comprising exchange-traded options, perpetual contracts, OTC derivatives, and a range of structured products, including passive and active investment options. By integrating Ribbon Finance’s offerings into Aevo’s suite of structured products, the platform aspires to evolve into a DeFi super-app, boasting a comprehensive array of perpetuals, options, and yield products under one roof.
The merger will enable users to navigate effortlessly between Aevo’s exchange, OTC, and structured products, enhancing the overall user experience. Furthermore, this pivotal move brings the deployment of structured products directly onto the Aevo rollup closer to reality, unlocking significant synergies between the exchange and vaults.
The proposal also underlines the importance of a unified brand identity for both Ribbon and Aevo. As part of this endeavor, all components of Ribbon Finance, including the user interface, visual design elements, communication channels, and governance protocols, will be seamlessly integrated under the Aevo brand umbrella. This unified approach is expected to maximize the products’ success and growth while fostering confidence and alignment among long-term token holders.
The plan encompasses two significant changes: first, positioning Aevo as the singular brand encompassing both Ribbon Finance’s offerings and Aevo’s structured products on its exchange, and second, initiating the transition from Ribbonomics to AEVO, the novel token that will govern the Aevo protocol and chain on the Ethereum mainnet. Detailed discussions on the new AEVO tokenomics will be presented in a subsequent proposal.
Practically, the merger will involve strategic steps, including migrating Ribbon Finance from its existing domain (app.ribbon.finance) to Aevo’s strategies platform (strategies.aevo.xyz). Additionally, Aevo’s visual identity will be implemented across Ribbon’s structured products, and the Aevo brand will replace Ribbon Finance on all internal and external sites, communication channels, and labels.
With the resounding approval from the community, the merger between Ribbon Finance and Aevo is set to redefine the DeFi landscape. Aevo’s ambition to be the leading on-chain derivatives platform, along with the integration of Ribbon’s offerings, holds the promise of opening new horizons for decentralized finance, offering a more seamless and comprehensive trading experience to users worldwide.
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Sourced from cryptonews.net.
