Ribbon Finance Makes First Foray Into BNB With Covered Call Vault

New DeFi Opportunity for WBNB 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.

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What is BNB Chain:

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.

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Find more about BNB Chain here:

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