Ribbon Finance, a DeFi protocol known for its on-chain structured products, announced on Wednesday that it is opening an options exchange to increase demand for its services among savvy crypto traders. Aevo, which was announced at Token 2049 in Singapore, would first allow users to trade ether (ETH) options, with ambitions to include bitcoin (BTC) and other tokens in the following months. Ribbon founder Julian Koh predicted that the options exchange would see daily trading volume of more than $100 million in the coming months, adding that the Ethereum ecosystem had “gained momentum” following the Merge event earlier this month.
