Zeta Markets Partners with Ribbon to Bring Structured Products to the Solana ecosystem

NEW YORK, Jan. 26, 2022 /PRNewswire/ -- Zeta Markets ("Zeta"), the premier under-collateralized derivatives platform, today 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."

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." 

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." 

After raising $8.5M at the end of 2021, Zeta Markets launched on the Solana mainnet on January 17^th with a list of features traditionally found on institutional-grade centralized exchanges including, but not limited to; undercollateralized trading, portfolio cross-margin, sub-second mark-to-market updates, instant settlement, as well as an orderbook and matching engine powered by Serum. Trading volume for the first week on the Solana mainnet has surpassed $1.4MM at the time of writing.

About Zeta Markets:

Zeta Markets is a decentralized platform built on Solana that facilitates liquid, non-custodial, and under-collateralized derivatives trading. Zeta brings together the best and brightest in the community, with contributors that have operated at the cutting-edge of derivatives markets and the technology industry for years. All this expertise is leveraged to create a sleek and intuitive front-end experience that aims to cater to all levels of trading background. With the recent boom in on-chain derivatives DeFi exchanges, Zeta is perfectly poised to ride the wave of demand for its futures and options offerings.

To learn more, please visit: https://zeta.markets/

About Ribbon Finance:

Ribbon Finance is the leading structured products protocol on Ethereum. With over $250m of TVL, Ribbon has sold over $3billion notional of options in the last year through their flagship product — the Theta Vaults.

To learn more, please visit: https://www.ribbon.finance/

Media Contact: [email protected]

SOURCE Zeta Markets