Ribbon Finance takes 10% performance fees and 2% management fees. 50% of the protocol revenue gets sent to the treasury. The other 50% of protocol revenue gets converted to ETH and distributed to veRBN holders for reliable-cash flow. This is exactly what Curve does except instead of redirecting profits from option premiums it redirects profits from LP fees.
The protocol revenue has been directed to RBN lockers pro-rata retroactively, starting from veRBN launch on February 28th, 2022.