LDX Airdrop

This year, Lyra has launched a new protocol, an L2, and most recently a novel primitive to tokenize derivatives yield on EigenLayer. With this renewed scope and direction comes a new token: LDX.

Today, the LDX Airdrop begins. This airdrop rewards traders and yield farmers, and aims to bootstrap new yield products and DEX liquidity on Lyra. The airdrop design ensures that the most active traders and yield farmers will get the most tokens.

The first airdrop uses a points system to distribute LDX pro-rata to users in 4 week rounds. The airdrop will last for at least 3 rounds, or 12 weeks. Users can earn points in 3 ways:

1. Trade: Earn 100 points per $1 fees paid on options and perps trades
2. Yield: Earn 1 point per $100 deposited to Lyra per hour
3. Invite: Earn 20% of invitee points, and 10% of their invitees points

There will also be retroactive rewards of LDX and other tokens to users of partner protocols and users that complete specific actions. These actions and partners will be revealed over the course of the airdrop.

Trade

Trade options and perps on Lyra to earn points. Traders earn 100 points per $1 fees paid.

Lyra will introduce boosted trading rewards for new trades and products (e.g. RFQ, new markets) introduced throughout the airdrop.

Yield

Deposit tokens into Lyra to earn points. Depositors earn 1 point per $100 deposited per hour for up to $100k of deposited collateral. Balances are based on the users’ total account value in the protocol.

Lyra will be launching new derivatives yield products throughout the airdrop, starting with the tokenized basis trade and covered call strategies on EigenLayer and LRTs. Users who deposit LRTs into these products will earn boosted yield rewards. Early deposits will open soon.

Invite

Invite other users to earn a share of their points. Users earn 20% of invitee points, and 10% of their invitees points.

You must be invited with a valid 5 digit invite code and deposit more than $25 to start earning points. To accept an invite you must:

1. Enter valid invite code
2. Sign in (by connecting a wallet or creating an embedded wallet)
3. Deposit at least $25

Levels & Bonuses

Lyra is introducing a levels system into its products. Users (traders or yield farmers) can unlock new levels by earning points. Higher levels will receive an additional LDX bonus on top of their pro-rata rewards from points, as well as other long-term benefits, both onchain and offchain (these benefits will be revealed throughout the airdrop). Levels will be recorded and rebalanced at the end of each round, and users will have to hit volume requirements to maintain their level in future rounds.

In addition, discrete bonuses of LDX and other tokens will be rewarded retroactively to users of partner protocols and users that complete specific actions. These actions and partners will be revealed over the course of the airdrop.

LYRA Migration

A snapshot of LYRA and stkLYRA balances was taken on May 8, 12:00:00 AM UTC. All LYRA balances will convert 1:1 to LDX, with no change to the total supply.

The only way to earn LDX is by trading, depositing and inviting — holding LYRA post-snapshot does not convey any rights to LDX.

Pre-snapshot LYRA stakers will receive a separate allocation of the LDX airdrop pro-rata based on their holder points balance. They will also receive an LDX bonus proportional to their staked balance and the duration of the airdrop.