Ribbon Finance, major decentralized finance (DeFi) protocol has made an announcement in regards to launching a new service. The platform has announced that it has launched a new cryptocurrency exchange for options trading.
Ribbon Finance Explains Purpose of Launching Options Exchange
Ribbon Finance has earned itself great recognition throughout the world of cryptocurrencies offering products that are structured for blockchains.
The DeFi Company is getting more into the cryptocurrency trading segment by launching its options trading exchange.
According to Ribbon Finance officials, they want to bring in a stronger investment community toward the cryptocurrency industry. Most of the cryptocurrency investment sector comprises new and novice investors.
However, the existing and experienced crypto investors are sticking to the same old platforms they joined in the first place. This is because, for them, there is nothing new to get their attention and offer them something that their current investments are not offering.
The purpose behind launching the options exchange is to ensure that such cryptocurrency traders are attracted. This would not only boost the adoption of their platform but also make the industry even more diversified.
Aevo to Offer Options Trades
It was at the Token 2049 event that took place in Singapore where Ribbon Finance officials talked about the launch of Aevo, the crypto options trading exchange.
The executives revealed the assets the users will be able to perform trades in the initial offering. Initially, the crypto traders will have access to options trading features for Ether (ETH).
They already have a plan of launching options trades in Bitcoin (BTC) in near future. Based on the adoption rate of the two major options trading options and their success, they will decide to launch more options in the coming months.
Expectations from Aevo
Julian Koh, the founder of Ribbon Finance talked about their expectations through their options exchange. He stated that right after the launch of the exchange, they expect its daily trading volume to go up to $100 million in a matter of months.
He also talked about the great help they are expecting from the implementation of the Ethereum Merge. He stated that following the implementation of the Merge, a great momentum for investments and adoption has been witnessed for ETH.
They believe they have made the best business decision by offering the investors options of trading in Ether. This way, they will be able to generate a higher user base and bring in more investors to their side.
Since the implementation of the Merge, ETH has not taken much of a fall even in the recent dips. At the time of writing, ETH’s trading price is hovering at $1,327.37, and it has experienced a 4.71% surge in the past 7-days.