Doubling The Vaults
Today, we are excited to announce that we are doubling the vault capacity for all four Ribbon vaults. Over the last few weeks, we’ve been onboarding a few new market makers and who are able to trade with more size and at better pricing. This helps us scale the capacity of our vaults to serve the pent up demand for the Ribbon products.
Firstly, we are raising the capacity of the ETH Covered Call vault from 12,500 ETH to 25,000 ETH.
We are raising the WBTC Covered Call vault capacity from 625 WBTC to 1250 WBTC.
We are raising the ETH Put Selling vault capacity from 25m to 50m USDC.
We are raising the Yearn ETH Put Selling vault capacity from 10m to 20m USDC.
Lastly, we are reducing the exit fee from the ETH Put Selling vault from 2% to 1%. The exit fees were historically implemented to prevent users from depositing, earning yield, then immediately exiting. However, the yields in the past few weeks have been approximately 0.5–0.7%, making a 1% exit fee possible to achieve the same outcome.
To start depositing, go to our app today: https://app.ribbon.finance/
