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Ribbon Finance: A Look into Ribbon VIPs Wallets

Key Takeaways

  • Ribbon VIP is a new initiative put out by Ribbon Finance that provides benefits to Ribbon's top depositors and veRBN holders.
  • Over 80% of funds from the VIP wallets are held on Ethereum, followed by Avalanche and Arbitrum in descending order.
  • Ribbon’s products with the most utilization from Ribbon VIPs would be the USDC and ETH vaults, as well as locking RBN for veRBN. The utilization of these products totals to about 89% of Ribbon VIPs’ funds.
  • Besides Ribbon, top protocols being used by the Ribbon VIPs on Ethereum include Aave and Uniswap as well as a significant positions for wallets staking MATIC.
  • Meanwhile, GMX and Aave are the top protocols for Ribbon VIPs across Avalanche and Arbitrum.