Ribbon Finance Offered A Government Proposal For New Institutional Borrowers

Ribbon Finance, a DeFi protocol that provides investors access to crypto-structured goods, is considering launching a second wave of lending pools for its DeFi lending product Ribbon Lend.

According to a recent governance proposal on the project’s forum, the Ribbon community is contemplating onboarding a new group of institutional borrowers. Parallel Capital, Amber Group, Auros, and Nibbio are now under consideration.

The community will vote on two of these four candidates. Ribbon Finance will next establish two new loan pools for the institutional borrowers that have been chosen.

According to the governance plan, the four firms have already been examined.

Ribbon Finance’s DeFi lending product was introduced in August. According to DeFiLlama, Ribbon Lend has handled over $35 million in loans to institutional borrowers such as Wintermute and Folkvang.

Lenders on the platform get a 12% annualized income, which is split between 7% interest and 5% emissions from the platform’s native token, RBN.

The new borrowers will be discussed in the Ribbon community for five days. Following the debate session, voting on the issue will begin.

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