Lyra Alpha Program: The Launch Phase

Lyra Alpha Program: The Launch Phase

Lyra will set a new standard for on-chain options trading with The Avalon Upgrade. 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 own.

After launching the Lyra Alpha Program last month, we received over 5000 sign-ups on the waitlist in just a few days. Since then, those in the Alpha Program have gained early access to the Lyra Avalon testnet and Alpha Trading Competition - but we're about to enter a new phase...Avalon mainnet.

In just over a week we're doing a gated launch of the new Lyra on Optimism Mainnet for Alpha Program traders. The purpose of this gated launch is to slowly roll out the new protocol and dapp, ironing out any bugs and issues before we open trading to everyone.

When: May 18th, 12am UTC

Markets: ETH

Liquidity: $300k in liquidity provided by Lyra

Expiries: 1 and 1.5 week expiries

Please note: the trading experience during the gated launch will have limited liquidity and strikes available.

The trading experience will drastically improve after the official launch.

How to get early access

1) Join the Alpha Program and register in Discord

The new protocol will be accessible by anyone with the 'Alpha' role on May 18th. Alpha's must whitelist a new address to be used on mainnet by private messaging the 'Lyra Alpha Bot' tagged in #announcements.

You'll then get access to the #🚪early-access channel

If you're not yet in the Alpha Program, you can sign up for the waitlist here.

2) Get referred by an Alpha

Alpha's have the ability to refer up to 2 additional traders to get early access. After registering your address as an Alpha, you'll be prompted to send the discord ID of up to two other traders you'd like to invite.

3) Be a trader on Lyra v1

Any user with over $50 in premiums traded on Lyra v1 can get early access by joining the Lyra Trader Guild.

What's next?

After a few short weeks of testing during the gated launch phase, we will open up deposits for the market maker vaults on the new version. At this time the allowlist will be removed for trading, liquidity will be incentivized on the new contracts and the old dApp will be deprecated. After the public launch, more markets will be added over time and we will begin to see the true potential of the next evolution of Lyra.  

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.