Logo of RibbonRibbon(RBN)

Total Value Locked$4.44m

TVL by Chain

Ethereum$3.77m

Solana$547,170

Avalanche$118,770

BSC$15.56

Key Metrics

Cumulative Fees$134,002
Cumulative Fees by chain

Ethereum$128,604

Avalanche$5,398

Staked$0

Total Raised$8.75m

Mar 23, 2022$8.75mRound: Series A+Investors: Paradigm

Protocol Information

Structured products protocol

WebsiteX/Twitter
Category:Options Vault

Audits:

Methodology

TVL: Sums the totalBalance of all Ribbon Theta VaultsView code on GitHubFees: Trading fees paid by users.View code on GitHub

Hacks

Date: Jun 24, 2022

Amount: $12,000

Classification: Frontend & Infrastructure

Technique: DNS Hijack

Chains: Ethereum

Target Type: DeFi Protocol

Date: Dec 12, 2025

Amount: $2.7m

Classification: Access Control

Technique: Improper Access Control

Chains: Ethereum

Language: Solidity

Target Type: DeFi Protocol

Competitors

Rysk V12 ($48.45m)Katana ($2.28m)3Jane Options ($119,308)Olive ($50,869)Bonsai Strike ($8,378)Chest Finance ($1,378)Grappa Finance ($0.45)Typus DOV ($949,796)Spin DOV ($34,967)AlgoRai Finance ($1,850)

Frequently Asked Questions

What is Ribbon's TVL?

Ribbon currently has $4.44m in total value locked. TVL has increased 5.1% over the past 30 days.

What chains does Ribbon operate on?

Ribbon operates on 4 chains: Ethereum, Solana, Avalanche, and BSC. Ethereum holds the largest share at 85%.

How does Ribbon's TVL compare to similar protocols?

Among Options Vault protocols tracked by DefiLlama, Ribbon ranks #2 by TVL. The category holds $56.33m across 18 protocols, and Ribbon accounts for 7.9% of that total. Other leading protocols include Rysk V12, Katana, 3Jane Options, Olive, Bonsai Strike, Chest Finance, Grappa Finance, Typus DOV, Spin DOV, and AlgoRai Finance.

Has Ribbon ever been exploited?

Ribbon has 2 recorded security incidents. The most recent incident occurred on Dec 12, 2025 and involved $2.7m. It was classified as Access Control.