BNB
by BSC News
April 3, 2023
The most popular options vault in crypto has a new product aimed at $BNB holders.
Ethereum-based options vault protocol Ribbon Finance has ventured onto BNB Chain with a new product aimed at $BNB holders.
The new BNB Theta Vault enables users to make their $WBNB available for Ribbon’s automated weekly Covered Call strategy, which the protocol estimates will earn 20% APY.
A Covered Call strategy is typically employed by investors who are bullish about the long-term value of an asset but don’t foresee significant price action in the very short term, and who wish to generate income in the form of options premiums, according to Investopedia.
For more information about Theta Vaults, see Ribbon’s documentation.
Ribbon is a long-running Decentralized Finance (DeFi) protocol with nearly $50 million in Total Value Locked on Ethereum, Avalanche and Solana, according to DefiLlama.
It is currently the most-popular options vault in crypto, ranking just above Jones DAO on Arbitrum.
Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
Related News
Latest News
6h : 24m ago
Weekly Article Recap: 4/22-4/26
April 26, 2024
Terraform Labs to Restrict Access for US Users Amid SEC Legal Battle
April 26, 2024
Can Chinese Investors Buy Hong Kong's New BTC and ETH ETFs?
April 26, 2024
World's largest Asset Custodian Bank, BNY Mellon Holds Bitcoin ETFs: Report
April 26, 2024
SEC Files $5.6M Lawsuit Against Geosyn Bitcoin Miner For Fraud
April 25, 2024
Nigeria Appoints Pro-Crypto Leader to Head SEC
April 25, 2024
BNB Chain Shows Strong Growth in Q1, 2024 Report: Key Details
April 25, 2024
Ethereum Spot ETFs Is Likely to Face SEC Denial in May: Reports
More News