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

Lyra

• 4 min read
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

Lyra’s OP incentives have been live for about two weeks and the results have been fantastic so far! TVL increased by almost +400% from $3.5 million to $17 million and while an increase in TVL usually leads to a decrease in APY the vault's fee performance continues to hold steady in the 20-30% range.

☄️ Learn How to Boost Your Lyra Rewards

If you haven’t noticed you can boost your ETH MMV rewards by up to 2x by staking! If you’re curious on the specifics you can read the details in LEAP-26 and for all of Lyra’s left curve users Dillon was kind enough to meme it out for us below. The TLDR is that you can maximize your ETH MMV OP rewards by staking up to 2x the amount of liquidity you’re providing to the ETH pool.
https://twitter.com/dillonlin_/status/1554815122392043521

🥕Lyra Trader Incentives Overview


Traders will now be eligible for a rebate on fees paid for opening and closing trades in a blend of both LYRA and OP rewards. The fee rebate percentage will grow logarithmically up to a maximum of 50% based on how much LYRA the trader has staked. The choice of a log based function means that users with small amounts of stkLYRA receive the vast majority of this rebate, making the benefits of holding stkLYRA available to all holders. Trading rebates will be distributed as stkLYRA and OP at the end of each two week epoch. For the specifics check out LEAP-26 and if you’ve been waiting on the sidelines to stake or trade now is the time!

🔙 Bitcoin Options Market is Live

Now that the ETH Market Maker Vault blew right past the $7-$10 million million dollar threshold liquidity was finally deep enough to re-launch the Bitcoin options market on Lyra! It’s been live for just under a week and LPs have already deposited over $2 million in sUSD liquidity earning between 6% and 12% APY depending on whether you’re fully boosted.

🗓 Lyra Launches Three Month Expiries

The only thing better than bitcoin options launching is being able to buy those same options three months out! ETH open interest has surpassed BTC for the first time as everyone starts to place their trades before the upcoming merge, this feature couldn’t have come at a better time!

The merge will occur at block 58750000000000000000000 which should be around September 15th or 16th but with so many expiries it’s possible to buy options that encompass the Merge, Surge, Verge, Purge, and Splurge.

https://twitter.com/itseneff/status/1557524294271660032

🦘 Polynomial V2 Vaults


https://twitter.com/PolynomialFi/status/1557359461378826240

Polynomial recently launched their v2 vaults built on top of Avalon. We found a Dune dashboard with v2 stats and the numbers are impressive - over 500+ users have already deposited about $1 million dollars in Polynomial vaults!

On their most recent community call Polynomial announced they are distributing 72,000 OP to ETH MMV LPs to help boost liquidity for their option vaults! They also told us about some new vaults they’ll be launching in the future - a gamma vault as well as a basis trading vault should be live in the next month or so!

💻 DevCo & AAVE LEAPs

  • Until there is a sufficient available decentralized hosting service, any frontend must be maintained by individual entities. LEAP-27 will establish an Australian corporate entity, which can contract with the DAO as needed for various purposes, including, but not limited to:
  • Host frontends and files (currently via Netlify)
  • Use ETH nodes as a service, such as Infura and Alchemy
  • Use developer tools, such as analytics to understand user behavior and centralized databases to store off-chain data.
  • LEAP-22 will launch the AAVE market on Lyra with seven boards that expire up to 12 weeks in the future with seven strikes listed on each board.

⚔️Synthetix X Lyra Twitter Space on the Avalon Launch

https://twitter.com/i/spaces/1YqJDqZLOXDxV


At 10pm UTC on August 16th Lyra will be on a Twitter Space with Synthetix talking about the recent Avalon launch. If you can’t attend it’ll be recorded don’t worry!  A lot has been happening recently so you’re not going to want to miss it!

🧵 Lyra Threads You May Have Missed

With the launch of Avalon and the OP incentives there has been a lot of talk on twitter about our beloved volatility engine! In case you missed them here are some of the good ones: