LDX Farming Program

LDX Farming Program


  • LDX is the new utility token for the Lyra Derivatives Network; an ecosystem including a Chain, Protocol, Exchange and Wallet
  • The LDX Farming Program allows LYRA holders to farm LDX, starting today
  • LYRA balances will be snapshotted on May 8 and migrated 1:1 to LDX — LDX has the same total supply as LYRA
  • LDX will be airdropped in Q3 2024

What is LDX?

Over the last 3 years the Lyra ecosystem has expanded from an options AMM to include a Chain, Protocol, Exchange and Wallet, becoming the first capital efficient and composable primitive for perps and options trading on any ERC-20.

This new scope demands a token native to the network.

Enter LDX, the utility token for the Lyra Derivatives Network.

How Can I Earn LDX?

You can earn LDX in two ways:

  • Farming: Hold LYRA to farm LDX, starting today
  • Trading: Trade perps and options to earn LDX, starting May 8 — there will be multiple airdrops for traders

LDX will be airdropped to farmers and traders in Q3 2024. Additionally, existing LYRA holders will be migrated 1:1 to LDX with the same total supply.

LDX Farming Program

LYRA holders can farm LDX by staking and locking LYRA at lyra.finance/airdrop.

LYRA holders earn 1 Holder Point per LYRA per hour. The more Holder Points you earn, the larger your LDX airdrop will be. The last day to stake and lock LYRA is May 8 when balances are snapshotted.

There are three ways to farm LDX:

  • If you are holding stkLYRA on Ethereum mainnet via gov.lyra.finance you are automatically earning Holder Points
  • LYRA holders can stake using a new, cheaper sink contract on Ethereum, Optimism, and Arbitrum via lyra.finance/airdrop to earn Holder Points
  • Traders earning LYRA trading rewards over the last 3 months can “commit” their rewards to be staked and start earning Holder Points immediately — all pending and future LYRA trading rewards until the May 8 snapshot will be automatically staked and not claimable.

Holder Points will be forfeited by LYRA holders that:

  • Unstake via gov.lyra.finance or contracts after April 19
  • Claim rewards via contracts after committing them to be staked

LYRA to LDX Migration

On May 8 12:00 AM UTC, all LYRA and stkLYRA balances on Ethereum, Optimism and Arbitrum will be snapshotted:

  • LYRA will be migrated 1:1 to LDX
  • The total supply of LDX will be the same as the total supply of LYRA
  • LYRA will migrate 1:1 to LDX regardless of whether it is staked and locked — farmers and traders will be airdropped additional LDX
  • Migrated LDX will be claimable in Q3 2024

Before the snapshot on May 8, it is essential that LYRA Uniswap LPs withdraw their LP positions. LPs are encouraged to withdraw by May 1 when incentives end for Arrakis on Ethereum mainnet, Camelot on Arbitrum and Velodrome on Optimism. Uniswap LPs can refer to this guide for instructions on how to withdraw.

The timeline for the LYRA to LDX migration is as follows:

  • April 19: Proposal approved, LDX farming starts
  • April 24: LYRA trading rewards are claimable
  • May 1: Uniswap LP incentives end
  • May 8: LYRA balances are snapshotted
  • Q3 2024: LDX is claimable 1:1 for LYRA, and additional LDX is airdropped to farmers and traders

The storm provides ⚡️⛈️🌪️