April 19, 2022
We’re thrilled to announce that Paradigm has taken another step towards enriching the ever-growing DeFi Options Vault (DOV) space by partnering with Ribbon Finance. With this partnership, Paradigm will host auctions for the largest DOV protocol and will be the first step for us into DeFi.
Ribbon Finance is the leading DOV marketplace and has elected to leverage Paradigm’s on-demand institutional liquidity network as part of their weekly options trading needs. By shifting their auctions to Paradigm, Ribbon will gain operational efficiency and improved pricing power which is expected to pass through directly to end customers and improve their overall returns.
Ribbon was instrumental in creating the DOV marketplace and bringing investors to the incredible returns that are available in decentralized options. As DOV popularity continues to grow, so does the work associated with running them. The pricing of vaults can be a highly labor-intensive process and Paradigm has provided a solution for reducing workload and achieving optimal returns. By pooling their risk-offset needs into auctions on Paradigm, instead of offsetting numerous options positions through chats and one-off trade negotiations, Ribbon can now offset all of their risk in an underlying asset with a single trade against institutional liquidity and in one click!
Julian Koh, CEO Ribbon Finance
"We're excited to work with Paradigm because they have the largest network of market makers and the best auction mechanisms. We think this will significantly improve our vaults' execution and pricing, leading to better yield for our users.”
Anand Gomes, CEO Paradigm
"We are very happy to have Ribbon Finance as our first DOV integration. Ribbon has been at the forefront of innovation in the DOV space since its inception and has cemented its bluechip status in the DOV market as evidenced by its industry leading market share. We are delighted to bring Paradigm's experience, expertise and network to deliver CeFi grade options liquidity to Ribbon vaults while maintaining the DeFi values the ecosystem has come to love.”
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Follow Paradigm on Twitter at @tradeparadigm and Ribbon at @ribbonfinance