Lyra

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Upgrading Lyra on Optimism

Lyra is launching an improved version of the protocol on Optimism. After a successful first 3 months on Arbitrum, Lyra Newport has been adapted to integrate with Synthetix Perps V2 allowing the deployment of a cash-collateralized version of the contracts on Optimism. The core objective behind integrating with multiple perpetual

Trading Rewards V2

Lyra is introducing an overhauled trading rewards program, tailored for options traders. Lyra Rewards V2, outlined in LEAP-49, introduces a Trading Pool, where a predetermined amount of rewards is divided amongst eligible traders who have opened and held positions throughout the epoch. Traders can unlock boosted rewards by staking LYRA,

Lyra Governance V2

Lyra Governance V2 signals a progression from a representative council model, introducing a fully on-chain system that allows LYRA token holders to directly govern the protocol and treasury.

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Reply Guy Competition - $7,500 in prizes

reply guy [ ri-plahy gahy ] A reply guy is a term for a man who frequently comments on tweets. It can also refer to a person who frequently and zealously responds to posts from famous people on Twitter. Lyra Grants is sponsoring a competition to educate the community about the Lyra

Announcements

LYRA Staking L1 Migration

The Lyra Protocol will soon deploy on Arbitrum, our first step in multichain expansion. To avoid liquidity fragmentation across multiple L2s, Lyra will migrate to Ethereum mainnet as a secure and unbiased home for staking. In addition, migrating LYRA staking to mainnet introduces the following benefits: On-chain staking Staking rewards

Newport Upgrade Primer

As we approach $1b in notional volume traded, it’s time to take another step forward in the evolution of The Lyra Protocol. This blog will share the implications of the Newport upgrade, covering how we’ve extended the protocols capability to integrate with any perpetual exchange on any EVM

Lyra Raises $3m Strategic Round led by Framework Ventures & GSR

Today, we’re delighted to announce that Lyra has raised $3m from Framework Ventures and GSR in a strategic round. Lyra will continue to work with respected and capable venture capital partners as the protocol continues building towards the vision of becoming the volatility engine that powers DeFi. In August

Lyra integrates Socket in-app bridge

We’re proud to announce that we’ve integrated with Socket. Socket is a complete interoperability stack which allows asset & data transfer across chains, enabling developers to build truly cross-chain apps. Lyra aims to promote the adoption of Layer 2 Ethereum by improving the user experience at every opportunity. By

Trade The Merge Competition - $30,000 in prizes

Introduction: We’re excited to launch a new trading competition around the price outcomes of The Merge with over $30,000 (in OP) in prizes. Ethereum will soon merge from proof of work to proof of stake and with any event of this magnitude there will likely be price volatility.

Show me the incentives - Lyra Short Put #9 (August 23)

Summary: 📊 Lyra Stats ☄️ Learn How to Boost Your Lyra Rewards 🥕 Lyra Trader Incentives Overview 🔙 Bitcoin Options Market is Live 🗓 Lyra Launches Three Month Expiries 🦘 Polynomial V2 Vaults & Lyra LP Incentives 💻 DevCo & AAVE LEAPs ⚔️Synthetix X Lyra Twitter Space on the Avalon Launch 🧵 Lyra Threads You May Have Missed 📊 Lyra Stats

Avalon Incentives are live!

After a month of unincentivized activity on the new Avalon release of the Lyra protocol: * LPs have generated 2.8% returns on capital deposited on day 1 * $20m+ notional volume and $1m+ premiums have been traded * Market-Maker Vault utilization has been consistently maxed out It’s time to add some

Lyra Avalon: Live on Optimism Mainnet

It’s here! We’re proud to announce the most significant upgrade to Lyra yet, Avalon. Now live on Optimistic Ethereum, Lyra Avalon builds off the strong foundation established in V1 (Two-sided options markets, unified liquidity, composable delta hedging) with a suite of new features which will offer the best

AMM Performance Update

Now that nearly 9 rounds of trading are in the books, it's time to examine how the Lyra AMM has performed. We’ll first dive into the mechanics of the AMM and then dig into the numbers to see how the AMM has fared, and how it might perform going

Lyra Alpha Program: The Launch Phase

Lyra will set a new standard for on-chain options trading with The Avalon Upgrade. [https://blog.lyra.finance/avalon-upgrade-primer/] Rolling options expiries out to 3-months, unified liquidity across strikes, partially collateralized short options, anytime entry/exit from market maker vaults - Lyra is about to enter a league of its

The New Lyra - An Avalon Upgrade Primer

Given the amount of exciting things that have been happening with Lyra over the last couple of months, a blog update is long overdue! This post will focus on the Avalon Upgrade, what it means for the protocol, and some goals for the next few months. In just under 6

Alpha Trading Competition

Next week we’re running a testnet trading competition where traders will compete for their share of 51,500 $LYRA in prizes and 5 Lyra-themed CryptoTesters NFTs. The competition will run from Tuesday 12th of April at 12am UTC for two weeks until the 26th of April. We received over

Lyra integrates with Gelato to automate LP incentives

Since the token launch, Lyra has been incentivising a number of pool 2 staking programs to ensure there would be sufficient liquidity for trading on both Optimism and Ethereum Mainnet. While effective in achieving this objective, the method of incentive allocation could be more efficiently designed. Over this period, the

Introducing the Lyra GrantsDAO

We’re excited to announce that the Lyra GrantsDAO is active and looking forward to receiving proposals! This is a great step-forward for Lyra in its aim to become a fully decentralized protocol. The GrantDAO consists of five community and team members, who are tasked with authoring new request for

Crypto Options vs. Perps

Options and perpetual futures provide traders with unique benefits compared to basic spot trading, which has led to their increasing popularity on both centralized and decentralized trading platforms. While options have less inherent risk (albeit still a risky product), perps are more cost effective. While this guide will not explore

Lyra integrates with Hop on Optimism

Today we’re announcing that Lyra has integrated Hop Exchange natively into the Lyra trading dApp in a move to further improve the onboarding experience to L2 Ethereum. Hop is the leading bridge protocol for sending tokens across rollups and their shared layer-1 network in a quick and trustless manner.

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The Greeks: Measuring Risk

Once a trader understands the basics of options trading, they should look more closely at the factors which dictate the movement of an option’s price. The Greeks are measurements of the different facets of risk that are required to quantify when pricing an option. They are used as tools

Announcements

SOL options market now live

We're excited to announce that the Solana ($SOL) options market is now live on Optimistic Ethereum Mainnet. Traders can now trade call and put options on SOL instantly with low gas fees. Trade SOL options ➜ [https://app.lyra.finance/trade/sol]Our objective is to continue adding options markets for

Community

Community Ape Fund

Introducing the Ape Fund, $10,000 seeded from the DAO to be used to buy options, directed by the community through discord voting. Could we lose all the money, yes, but it's about the friends we make along the way right? At the start of every two weeks, the community

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Crypto Options Basics

Options are one of the most versatile and composable primitives in finance. As of now they remain one of the most underutilized tools in DeFi. At Lyra we believe that this will be short lived, and crypto options markets will reach the tremendous scale currently seen in traditional finance. This

Governance

Lyra Council Voting

Marking a significant shift in Lyra Governance, the first LYRA token vote is now available on Snapshot. Lyra utilizes a delegative governance structure, where a council of 5 representative council members vote to make decisions on behalf of the DAO and administrate LEAPs on behalf of LYRA holders. Vote here