Ribbon

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

Sums the totalBalance of all Ribbon Theta Vaults

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

A further $13.3K sits in the protocol's native staking modules — these deposits are typically locked, vote-bonded, or earning a share of fees, and they reduce the freely circulating float that can hit the market.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Ribbon is published as a versioned release inside the Ribbon Finance protocol family. Releases inside the same family typically share governance, brand, and large parts of the audit history, but each version can run materially different contract logic — a release labelled v2 or v3 is not just a UI refresh. Newer versions inside a family typically launch with their own audit cycle and parameter set, so do not assume the previous release's safety record carries over without checking the linked audit reports.

Fork lineage and parent-protocol relationships are tracked by DeFiLlama for security and audit-history attribution; a fork inherits the upstream design but not necessarily the upstream audits or governance.

Ribbon is a versioned release inside a larger protocol family. View the parent for combined TVL and all sibling versions.

Ribbon is a Options Vault protocol where traders open leveraged, perpetual, or option positions priced off oracle feeds and settled in collateral held by the contract. It is deployed across 4 chains, including Ethereum, Solana, Avalanche, Binance. The codebase has been independently audited (1 report on file).

Ribbon operates on 4 networks (Ethereum, Solana, Avalanche, Binance), keeping its surface area narrower than chain-agnostic peers. Roughly 99% of its on-chain value sits on just three networks (Ethereum, Solana, Avalanche), so a fault on any one of them would affect a large slice of users. Price feeds come from a single oracle provider (Pyth); an outage or manipulation of that feed would propagate into every market the protocol prices. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts.

Verified external resources for Ribbon — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Ribbon is one of 7 Options Vault protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Typus DOV, Katana, Chest Finance, and 3 more. These peer protocols collectively secure $8.2M in deposits, giving you a frame of reference for whether Ribbon's own TVL is at the top, middle, or tail of the category.

Typus DOV

TVL $3.6M · 24h +0.23%

Katana

TVL $1.8M · 24h -0.28%

Chest Finance

TVL $1.3M · 24h -0.09%

AlgoRai Finance

TVL $1.2M · 24h -5.74%

3Jane Options

TVL $121.4K · 24h +0.19%

Polynomial Earn

TVL $100.2K · 24h -0.21%