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Lyra Council Voting

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.

The current council, known as the ‘Lyra Launch Council’ was elected through a vetted internal voting process by active community members in mid-2021. You can read more about the council structure here. A recently approved governance proposal, LEAP-15, outlines a more robust scope for the Lyra Council, and includes more details such as responsibilities, remuneration and expected output. A breakdown of the council election and transition process can be viewed below:

Throughout 2021, we were taken aback by the enthusiasm of key community members in Lyra governance forums. This participation continued over into the council nomination process, with a total of 12 eligible nominations from the Team and Lyra community. Voting will remain open for three days until 00:00 UTC February 1. To view the nominations, head to the #council-nominations channel in the Lyra Discord here.

Nominees:

  • 🌈ksett _/#8710
  • Burt Rock#7445
  • Cinque _/#8648
  • asscrusader420#6969
  • Fozzy#9538
  • JVK (🐶,🐶)#6935
  • Billy191#7342
  • slade45#3475
  • cube#1084
  • mjs12#4022
  • leifu _/#8588
  • Rooney#0517

To ensure a fair outcome, vote weighting has been applied to specific LYRA holders which can be defined below:

Group

Weight

Address

LYRA L1 Holders

1x

0x01ba67aac7f75f647d94220cc98fb30fcc5105bf

LYRA Optimism Holders

1x

0x50c5725949A6F0c72E6C4a641F24049A917DB0Cb

stkLYRA Holders

1.2x

0xb9619D73C08076bC5d4f0470593e98b9eb19a219

WETH/LYRA 1% Uniswap V3 Optimism

1x

0xf334f6104a179207ddacfb41fa3567feea8595c2

WETH/LYRA Sushiswap

1x

0x52DaC05FC0000e9F01CE9A1E91592BfbFcE87350

Escrowed LYRA Holders

0.25x

Multiple vesting contract addresses


About Lyra

Lyra is an open protocol for trading options built on Ethereum. Lyra allows traders to buy and sell options that are accurately priced with the first market-based, skew adjusted pricing model. Lyra also quantifies the risks incurred by liquidity providers and actively hedges them, encouraging more liquidity to enter the protocol.

Stay tuned for more important updates, key date announcements, and exciting opportunities by following us on Twitter.

Join the Lyra community on Discord to get involved; be the first to learn about new opportunities with Lyra and be a part of building the future of DeFi.

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