Calling all options traders and members of the Lyra Legion. It is time to prove your trading chops and shed blood protecting the future of France as we know it in the Lyra Trading Competition. Lyra Finance is the most complete decentralized options trading protocol built on Ethereum. Lyra combines the best of traditional options market making (tried and tested pricing and risk management) with crypto’s two biggest strengths: scalability and composability.
When: 8pm EST, 12th July 2021
How to register: A faucet will be opened 48 hours out from the beginning of the comp
Lyra is announcing an options trading competition on Optimistic Kovan to test the protocol and find the best performing traders in the community. Lyra will be giving away prizes to the value of $50,000USD to the traders who achieve the greatest dollar value return over the two week trading period ending 9am EST, 26th July 2021.
The competition will run for two weeks starting 8pm EST, 12th July 2021 at https://app.lyra.finance. A lockout period from the testnet will commence 48 hours prior to this time, at which point traders will gain access to a faucet which will supply them with testnet tokens to compete in the competition allowing the team to reset the boards and prepare for war. The tokens will be distributed through a faucet. The winners of the competition will be those who achieve the most monetary gain over the two week period as a USD dollar value above the value of the starting tokens distributed.
Prizes will be as follows:
First - $15,000 + TBA
Second - $5000 + TBA
Third - $1000 + TBA
Fourth - $1500
Places 5th-20th - $250 each
Note: The ‘TBA’ prize will be announced in the next week. The cash prizes can be claimed in USDC or as Lyra tokens at the equivalent USD value at the market price after launch.
However, beyond the monetary prizes, those who prove themselves in the battlefield (top 20 traders) will be promoted to an exclusive group of specialized options experts known as the ‘The Legionnaires’. These traders will have access to an exclusive channel in the Lyra discord, and have their role as a Legionnaire displayed as a badge of honour for the rest of time following the competition.
A continuing objective of the community competition is to gain feedback around how we can improve the dApp’s interface for traders. Throughout the competition, please let us know in the Discord how we can improve the experience for users. To the Lyra Legion, best of luck. Trade hard, seek alpha and most importantly have fun!
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Join the Lyra community on Discord to get involved; provide early feedback, be the first to learn about new opportunities with Lyra, and be a part of building a new DeFi community.