Overview and RBN tokenomics

Ribbon DAO consists of multiple smart contracts. Governor Bravo's standard one token, one vote method is expanded to include a weighting system based on locking RBN for veRBN tokens.

Ribbon DAO has two tokens:

1. RBN

   • governance voting

2. veRBN (vote-escrowed RBN)

   • governance voting

   • gauge voting

   • boosts $RBN rewards earned on staked vault tokens

   • gauge voting bribe yield in ETH, USDC, RBN

   • boosting bribe yield in ETH, USDC, RBN

   • share of protocol revenue

Source code for the Ribbon DAO can be found on Github.

Token distribution

- 49% to Community Treasury This community treasury is controlled by RBN Governance, and can be used to incentivize liquidity mining programs, provide provide grants to developers, and other programs to improve the protocol. 20% of this supply is unlocked immediately, and the remaining is vested linearly over 3 years starting from 24th May 2021.

- 23% to Current and Future Team These tokens go to the current team members as well as future team. This entire allocation is on a 3-year vesting schedule, with a 1-year cliff, starting from 24th May 2021.

- 15% to Current Investors These tokens go to the existing Ribbon investors over two private funding rounds to fund the development of the project thus far. This entire allocation is on a 3-year vesting schedule, with a 1-year cliff, starting from 24th May 2021.

- 8% to Corporate Property These tokens goes to the company behind the development of the Ribbon protocol. These tokens are reserved for advisors, future fundraises, and future employees, who will all have a similar vesting schedule based on when the agreements are executed.

- 3% to Retroactive Airdrop Recipients These tokens go to the RBN Retroactive Airdrop 71 which took place on the 25th of May 2021. This allocation is not locked.

- 1% to Liquidity Mining Participants These tokens go to the first Liquidity Mining program, which was part of RGP-2 19 that took place on 16th June 2021. This allocation is not locked.

- 1% to Initial Market Makers These tokens go to the initial market making firms that provided services from the first week of the Theta Vaults operations onward. This entire allocation is on a 1-year vesting schedule, starting from 24th May 2021.