Zeta Markets Partners with Ribbon to Bring Structured Products to the Solana Ecosystem
Zeta Markets, the premier under-collateralized derivatives platform, announced that it has partnered with Ribbon Finance, the pioneer of DeFi Options Vaults (DOVs). Zeta will serve as the underlying infrastructure for Ribbon and facilitate the development of structured products on Solana. By utilizing Zeta’s industry leading infrastructure, Ribbon will be the first major Ethereum project to launch on the Solana ecosystem.
“After launching on mainnet last week we’re excited to announce our partnership with Ribbon to lay the groundwork to facilitate options and derivatives in the Solana ecosystem,” said Tristan Frizza, Core Contributor to Zeta Markets. “We aim to give all of our users a superior experience similar to what they’re used to in the traditional options markets and are pleased to be working alongside the talented team at Ribbon to fulfil their vision of making structured products available to DeFi users around the globe.”
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Through this partnership, users of DeFi will be able to leverage Zeta’s infrastructure to earn sustainable yield through Ribbon’s automated options strategies. Option writing strategies have been one of the most lucrative ways to earn yield on digital assets, however crypto options volume as a percentage of spot volume is ~2%; while in the US equity markets options volume as a percentage of spot is ~35X. While demand for these products has been present and is increasing, the infrastructure layer is lagging in comparison which both Ribbon and Zeta hope to address through their partnership.
“We’re excited to bring structured products to the Solana ecosystem through our partnership with Zeta Markets,” said Julian Koh, Co-Founder of Ribbon Finance. “We know that structured products will become an important part of the evolving crypto marketplace which is why we will continue to expand our offering to other blockchain ecosystems.”
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While originally launched on the Ethereum blockchain, expanding to other protocols has been a key part of Ribbon’s mission, most recently expanding to Avalanche in December of last year. Ribbon’s first product focuses on yield through automated options strategies. The protocol also allows developers to create arbitrary structured products by combining various DeFi derivatives. With its move to Solana via its partnership with Zeta, Ribbon cements itself as one of the leading DeFi Options Vault projects in the entire DeFi space, with ~$300m in total value locked at the time of writing. Ribbon uses financial engineering to facilitate the creation of structured products that deliver sustainable yield.
“As the crypto options space continues to grow rapidly it’s exciting to see one of the top Ethereum DOVs launch on Solana via Zeta Markets,” said Darius Sit, Managing Partner & Co Founder of QCP Capital. “This is a great development for both Solana and the crypto ecosystem as a whole since protocols like Ribbon and Zeta are the building blocks for a comprehensive DeFi experience.”
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