Automated Put-Selling Vaults
We are extremely excited to share that we are introducing a new product in our Option Vault series, the Puts Theta Vault. Instead of selling covered calls like Ribbon’s other two vaults, this product sells put options instead. This means that if you expect an asset to go up, you can earn high yield in the meantime by selling downside protection. Ribbon automates this process on a weekly basis, and users simply need to deposit USDC into the vault.
To start, Ribbon is launching the first Puts Theta Vault on ETH. With the price of ETH appreciating significantly in the last few weeks, this product might be suitable for users who expect this rally to continue.
To start, we are capping the Puts Theta Vault to $20mm USDC. This is to ensure that the market makers we work with are able to buy up the put options that the vault sells.
You can start by depositing your USDC here.
Looking Forward
Over the next few months, we are planning to expand this product line by offering Puts Theta Vaults on various assets such as BTC or other ERC20s. We are also planning to offer Puts Theta Vaults that can be collateralized with non-USDC assets, such as ETH or WBTC.
