Start Trading Earn weekly rewards The Lyra Protocol is a novel automated market maker that lets you earn trading fees on capital by automatically making options markets Add Liquidity Why this is useful Increasing capital efficiency for those looking to sell calls, which would usually require a lot of capital to make sense. This will not put any funds at risk, but it will mean that transaction history will be lost. Just as we are seeing with the likes of GMX, once Lyra hits a stage where LPs are sufficiently compensated for their capital, the shift to purely protocol-generated yield, i.e. Impermanent Loss (IL) risk is also a factor too depending on the structure of the underlying protocol. So you are still up on your spot bag and overall in profit during highly volatile market events. Again, take into account the price of the option when working out the PnL but $1,000 ETH yields you a profit of $165.10 or 5.6x on the money. Being able to see strikes that are further out in creates user retention. First, ensure a meaningful token distribution to help decentralise ownership and control. Lets say you are a perma-bear and you think the macro headwinds are way too strong and the merge will be a meme and/or there will be a bug and ETH is going to $0. stkLYRA holders are also eligible for those OP rewards too. 1inch finds the cheapest swapping path across Uniswap and Synthetix, as well as all future DEX protocols as they onboard to Optimism. Whilst trying to run an education platform in this space you hear the same things over and over again and the fact of the matter is that, people just get confused by options. Lyras mission is to be an open, community owned protocol for trading options. 24H. The first things that spring to mind are liquidity and slippage for large trades. Instead of airdropping tokens, they will allow users to earn them for over a month by using their protocol on Optimism. Designed natively for Optimism, Lyra is the first protocol to manage risk for liquidity providers, allowing it to offer the best on-chain pricing for traders. Follow the money who writes the options for these options vaults? Freely allows LPs to add or remove their positions with a small cool down for withdrawals. If you have never used OE before you will need to add the Optimistic Ethereum network to your wallet. Taking all of the above into consideration, DeFi options protocols have enormous upside potential. For important updates, key date announcements, and exciting opportunities, follow Lyra on Twitter. This way the underlying exposure of the assets in the MMV/AMM is always constantly looking to be market neutral and not allow any imbalances through exposure to eat into any yield accrued by LPs. Live incentives Thales thalesmarket.io Allows the creation of peer-to-peer parimutuel markets that anyone can join. Smart. 0:27. DeFi is also undervalued and underutilised compared to CeFi. LYRA to EUR Chart LYRA to EUR rate today is 0.131661 and has increased 4.9% from 0.125551 since yesterday. TLDR: Buying a call option allows you the right but not the obligation to buy an asset at a specific strike price on a specific date. (Bloomberg) -- Even now, after a 34% plunge in the Nasdaq 100 Index that's wiped $6.7 trillion off the benchmark's . The other immediate and obvious advantage of the AMM over vaults is that they are always open. Lyras Ignition phase has been an overwhelming success, migrating over $200m liquidity to Optimism and kickstarting the era of L2 native DeFi. By integrating with Hop, Lyra can offer traders a seamless experience to move tokens from Layer 1 Ethereum to Optimism. People like to strategies on these things and be in one place to speculate particularly if they are a Lyra maxi. Aug 25, 2021. Lyra aims to promote the adoption of Layer 2 Ethereum by improving the user experience at every opportunity. Again, these are both extreme cases of bull vs bear but I think it illustrates quite well the power of options for the degens amongst us. In the near future, traders will be able to open and close trades and deposit to the market pools using multiple stablecoins. It has secured Rank 504 in the cryptocurrency market with a marketcap of $32.80M. If I buy the $1,200 strike, it would cost me $380.29 (in sUSD). Segn los datos de la tabla, el volumen de intercambio de LYRA a SUSD es $105.67. On Tuesday the 14th of December at 00:00 UTC, 67m LYRA will be available to claim. The protocol makes it favourable for LPs to deposit their sUSD into Lyra by allowing them to earn a proportional trading fee to their share of the pool. Disclaimer: This isnt to shit on OVs, I think they have their place in this space but there are a few pros and cons compared to an AMM. 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 the future of DeFi. Hop is the leading bridge protocol for sending tokens across rollups and their shared layer-1 network in a quick and trustless manner. However, there are some factors that Lyra users should be aware of: Trading downtime - During this time, the dApp will not be functional and traders will be unable to open and close positions. You ideally want low risk, high activity and consequently the yields will come. Ill get to the point, give me a minute, On-chain perps amount to around $1-2bn in notional volumes per day, collectively So, roughly around 80x smaller than CEX notional volumes. TLDR: the right but not the obligation to sell an asset at a specific strike price on a specific date. Stay tuned for more important updates, key date announcements, and exciting opportunities by following us on Twitter. The 1inch Aggregation Protocol is the leading DEX aggregator in DeFi and facilitates cost-efficient and secure swaps across multiple liquidity sources. They grant huge asymmetrical opportunities with regard to long-term investing. This is supply and demand driven much like any market which in turn sets the price. Go to https://app.lyra.finance/welcome. New to Optimism Stargate Finance - Yu cu: Bridge ti thiu 100 USD ti sn t n Optimism, hoc t Optimism sang cc Layer 1, 2 khc. Lyra Finance Price. Based on the table data, the OP vs LYRA exchange volume is $324.52. 4 - Deploy the Lyra contracts to the local optimism network (From the Lyra directory) $ yarn deployTest --network local $ yarn seedTest --network local 5 - Sync deployment files (From subgraph directory) $ yarn sync-local 6 - Start the subgraph $ yarn graph-node 7 - Create and deploy the graph $ yarn create-local $ yarn deploy-local The total available supply of Lyra Finance is 185.44M LYRA with a maximum supply of 1.00B LYRA. Low. We want the onboarding experience for Lyra to be as easy as possible. Han pasado 317 das desde entonces, y ahora el precio es 21.49% del mximo. Before we go any further if you are a builder in this space and are hiring a remote-first team take a look at one of our partners below, Deel. That doesnt necessarily mean you cant bet on the direction of the market either. We translated this to ape-speak so you should be good to go after reading. If you have any questions about the Optimism regenesis please dont hesitate to reach out in the Lyra discord. Since launching in July 2021, close to $1.4b has been bridged using Hop between Ethereum Mainnet, Gnosis chain, Polygon, Arbitrum and Optimism. Join the Lyra community on Discord to get involved. We update our LYRA to USD price in real-time. Why this is useful This one is slightly obvious but Ill say it anyway. Official Website Block Explorer LYRA Github LYRA Twitter . Lyras Security Module lives on L1, to help protect the protocol against the platform risk of Optimism which is still in its infancy. I love to think about these protocols in 10 years time and think about where they could be and laugh at the current opportunities that present themselves. Deribit is the market leader for options (BTC, ETH and SOL) coming in at roughly $500m notional volumes per day whereas Binance derivatives exceeded $47bn in notional volumes with around $7bn in open interest. Well, looking at the current prices for puts on ETH on the 16th of September, if you believe that ETH could be at $1000 there could be some opportunity for you, Michael Bury Jr. For the $1,200 strike, i.e. So again, solving this issue can only benefit the LPs which in turn encourages deep liquidity and an overall better trading experience, particularly for large traders. Were proud to announce that weve integrated with Socket. In this new series, we're going to explore what DEFI options are. All activity will be halted and pending withdrawals will be accelerated and processed on L1 so that we can safely take this snapshot. The possibilities for this are endless, having LPs being able to deposit, receive a yield-bearing token and then borrow against it will do wonders for the LP, Lyras liquidity and the protocol as a whole. Lyra Finance uses LYRA as the native token which gives governance rights to holders as well as revenue share . Contracts/Blockchains: Ethereum. If they dont get to make their own decision with their assets and/or they are locked up and opportunity costs arise, they will often seek better opportunities. There are separate pools for BTC and ETH options currently, although there are some Coming Soon hints for other assets on the landing page which I will leave up to you to discover. Our ignition traders have stepped up with $20m of volume flowing through the protocol last week. DeFi protocols are now scrambling to fix their stablecoin dependency in light of the recent blacklisting events, which I would expect to continue. The company shared the steps that the user must follow to access the testnet: 1. Socket is a complete interoperability stack which allows asset & data transfer across chains, enabling developers to build truly cross-chain apps. 18 2 minutes read. So, again using the slider you can work out that if ETH is flat and is still around $1,500 then cool, you are obviously breaking even. $ 0.153. The difference here is that when pricing an option off-chain an options writer would have to calculate a fair premium for writing the contract. So you picked up some ETH at $1,500 and you want to cover your spot long by purchasing some puts. For example, a $1400 ETH would yield around $96.36 profit. Lyra aims to promote the adoption of Layer 2 Ethereum by improving the user experience at every opportunity. Ethereum will soon merge from proof of work to proof of stake and with any event of this magnitude there will likely be price volatility. Lyra is a protocol for trading options on Ethereum. [GF: Phase 0 Proposal] Lyra Finance also . There was no official date specified for the mainnet launch. Those that solve this issue will begin to build a moat, much like we are seeing with the likes of dYdX and GMX at the minute in the perps markets. Lyra built this into their AMM to help calculate their options prices for those looking to enter and exit a trade using their AMM. So, despite the extremely strong S&P/Nasdaq/BTC/ETH correlation, there are still some areas which will inevitably begin to converge. ZK-STARKs, a novel invention by StarkWare, provide an exciting new frontier offering theoretically unlimited scale for computation on-chain. You can use chainid.link to add the network to your wallet with a single click. Lyra also quantifies the risks incurred by liquidity providers and actively hedges them, encouraging more liquidity to enter the protocol. We translated this to ape-speak so you should be good to go after reading. 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. 7-day price history of Lyra Finance (LYRA) to USD Compare the price & changes of Lyra Finance in USD for the week. The Black-Scholes model is widely used as a way for pricing options premium. Lyra allows traders to buy and sell options that are accurately priced with the first market-based, skew adjusted pricing model. Show this thread. The easiest way to acquire sUSD on Lyra is to click your sUSD balance in the navigation bar. Token Ethereum Optimism. So, as I type ETH is at $1550 and I am looking at the 16th of September (expected merge date) as my expiry. Put those merge theories to the test. Yes, funnily enough being profitable for LPs is their number one priority. Lyra Finance is an on-chain options protocol that uses an automated market maker (AMM) for anyone looking to buy/sell a call or put on ETH and BTC. Funds are safe - Funds are safe and balances, contracts and storage will not be impacted. 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. This will not put any funds at risk, but it will mean that transaction history will be lost. The Lyra dApp and contracts will be paused at 1am PT 11/11 and restart at 7pm PT 11/11 after regenesis. Lyra is a protocol for trading options on Ethereum. A leading decentralized platform for trading crypto options. Nasdaq Bulls' Remarkable Optimism Holds Firm as the Fed and Earnings Sting. Lyra is an automated market maker for trading options on Ethereum. Lyra is up 1.11% in the last 24 hours. Lyra does allow LPs to add and remove liquidity at will. As you can probably tell I like Lyra, a lot. Convert Lyra Finance (LYRA) to USD Convert US Dollar (USD) to LYRA If we work backwards and look at what the traditional markets tell us about the relationship between options and derivatives activity, we can kinda forecast where the crypto/DeFi options space will end up. The live Lyra price today is $0.144442 USD with a 24-hour trading volume of $96,789.15 USD. These guys built options vaults on top of Lyra to make it seamless for you apes to gain some extremely impressive yields on stables and ETH. With withdrawal periods currently at one week, we need a better solution for our users. Following a successful launch on Optimistic Ethereum, we are thrilled to announce that Lyra has integrated with the 1inch Network to provide in-app swapping, accessing the best pricing across multiple liquidity sources in DeFi. It makes more economic sense than direct incentives because, for every $1 spent on obtaining votes, the sUSD pool will receive more than $1 in CRV emissions. To get started on Lyra, traders need sUSD to trade and synths like sETH to open short calls. For more information see their tweet below , Calling all traders Youre invited to the Lyra Trade The Merge options trading competition with over $30,000 in $OP prizes. Lyra has partnered with Celer to make the LYRA token available on their cBridge, enabling fast transfers between Optimism and mainnet. To check 's price live in the fiat currency of your choice, you can use Crypto.com's converter feature in the top-right corner of this page. 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. You have the right but not the obligation to buy ETH on the 16th of September for $1200. They did point out that Black-Scholes assumes implied volatility is constant across different expirations and strike prices, which isnt necessarily true, so they adjusted for such volatility smiles in their AMM too. As a result of this work, the core team has received clearance from Optimism to deploy. Introducing the LYRA token is an important milestone on this journey as we move toward community ownership. There are a few notable upgrades to the protocol that are extremely refreshing and havent been seen in DeFi until now. Implied Volatility As the name suggests the market is anticipating volatility and this can be derived from the net purchase of options. Lyra is an open protocol for trading options built on Ethereum. Naturally, Lyra is the same and allows users to deposit sUSD (Synthetix USD) into the protocol as an LP into their market maker vaults (MMVs). $ 0.156. . You can learn more if you are interested here in our beginners guide to options. Lyra is an open protocol for trading options built on Ethereum. Claim your tokens. When you are ready, click start trading and exploring. If ETH doesnt perform then you then become in the money. Were proud to announce that weve integrated with Socket. What I think Lyra has done extremely well is lay it out in black and white, or more accurately green and red. Lyra also quantifies the risks incurred by liquidity providers and actively hedges them, encouraging more liquidity to enter the protocol. Lyra Finance (LYRA) $0.130699 10.7% 0.00000643 BTC -10.1% 0.00008450 ETH -8.5% On 4,615 watchlists $0.128743 24H Range $0.147596 Market Cap $27,701,193 24 Hour Trading Vol $355,131 Fully Diluted Valuation $130,703,034 Total Value Locked (TVL) $15,926,962 Fully Diluted Valuation / TVL Ratio 8.2 Circulating Supply 211,939,941 As protocols continue to migrate to Optimism, we will be investigating other sustainable methods for long term liquidity management. Lyra Finance LYRA Rank #597 $0.121 1.84%. Info: https://www.statista.com/statistics/377025/global-futures-and-options-volume/. The live Lyra price today is $0.000058 USD with a 24-hour trading volume of $0.000006 USD. This would mean, selling 1 ETH call would require, say, 0.4 . Lyra Finance can be traded across 5 different markets and is most actively traded in Velodrome Finance . The LYRA token just went through the LEAP-26 governance vote which sees it get its own facelift along with the protocol. $380.29 + $1200 for the ETH = $1580.29. the option to sell ETH on the 16th of September for $1,200 it currently costs you $29.25 dollar for this privilege. Kinda sad I just gave up this for free oh well go check them out. Lyra's vision, then? Socials. It is all of this good stuff and more for FREE: https://blocmates.substack.com/. This section describes the process of deploying the relevant smart contracts, adding liquidity and creating the listings. Currently sitting at around $20m mc with a fully diluted valuation of around $110m. As I mentioned in the introduction I believe options markets are particularly undervalued and the liquidity flowing into them will only increase. Securing the platform as collateral in the Security Module. Lyra is an open protocol for trading options built on Ethereum. So, what does that allow me to do? Initially, Lyra will be a bridge for ETH from mainnet to Optimism. LYRA Protocol Incentives There will be three trading rounds in this phase: The goal of ignition incentives was twofold. Hence, they typically use a few models to calculate a fair price for writing the option. Lyra is built on Optimism, so you get sub-second transaction times, cheap fees and a great user experience. There is more to be said about the large Synthetix presence on Lyra too which I will get into further below. Lyra will commence a one-month liquidity mining program for the LYRA/ETH pair on Optimistic Uniswap. Well, if ETH is above $1,580.29 at the expiration date, then I am in profit. About Lyra Finance. . I put it in this category for leading sources of alpha Governance proposals Discord/Telegram Medium Twitter Your Friend at work. We chose to launch this feature with ETH exclusively for a few reasons: In the future, DeFi users will have tokens across multiple rollups and chains. As we move toward partial collateralization in v2, LYRA will become the centrepiece of a composable volatility engine, facilitating efficient transfers of risk throughout DeFi. Which increases the possibilities of composability through lending, borrowing and even yield aggregation for LPs. You have to think back to the beginning of the article (I know it was long ago), the options markets are still in their infancy in crypto and in DeFi, they are just being born. The 1inch swapping protocol allows us to combine Uniswap and Synthetix swaps into one transaction, combining steps 2 and 3. Finally, to open short calls, traders must exchange sUSD to the synthetic underlying asset, such as sUSD, via. Last week, we gave back to everyone whos helped us along the way, our discord community, liquidity providers and traders. So, again you are relatively flat despite being able to keep your spot exposure open. To actualize the dream of crypto-native options like never before by building on top of Synthetix with ultra-efficient L2 infrastructure. Ethereum will soon merge from proof of work to proof of stake and with any event of this magnitude there will likely be price volatility. Lyra is up 0.00% in the last 24 hours. The other reason is that when using new innovative products before the herd, you can define an edge before the rest get up to speed. The total available supply of Now its time to put LYRA into the hands of the community, but first, lets go through the purpose of the LYRA token. First, traders must bridge tokens from Layer 1 to Optimism via the Optimism Gateway: Second, traders must exchange their tokens to sUSD via Uniswap, which is currently the only decentralized exchange protocol available on Optimism. Lyra Finance's current price is $ 0.150, it has increased +2.7% over the past 24 hours. On top of that I always say governance proposals are the leading source of alpha straight from the horses mouth. Increase demand = increase in IV. Additionally, when users attempt to open positions without enough sUSD balance, they will be prompted to open the swap form. Well, you can use Polynomial Finance. Deribit the centralised options market leader accounts for the lions share of options traded. I look forward to seeing how the two protocols integrate further in the future. Lyra allows traders to buy and sell options that are accurately priced with the first market-based, skew adjusted pricing model. xLYRA Will be non-transferable, Decays linearly with time similar to how you see veCRV and CRV decay. If you can deposit say $1m of sUSD in Lyra earn a great yield and then maybe borrow 10-50% against that collateral from a lending and borrowing protocol, then imagine the possibilities. These flows are designed to reduce friction in the trading experience. The leading community for cryptocurrency news, discussion, and analysis. Loss of transaction history - After this upgrade, users will not be able to view their historical withdrawals on the block explorer. Hng dn tri nghim d n . But, as the eagle-eyed amongst you may point out this is spot volume, what about futures and even options? Staking rewards. If you are looking to use options as most do this would be to hedge against these volatile times and use them as insurance. We plan to add bridging of sUSD when the debt pools merge and sUSD is fungible across different layers. A Quick ELi5 Recap Key things to consider when trading options. This program will incentivise full range liquidity to minimise the chance of exploits that have recently affected other protocols. 22, Synthetix, a derivatives protocol, unveiled its new initiative with Lyra: an options protocol that launched last year. Chn "Connect . So, what happens when we drill down further into decentralised exchanges and what can this tell us? LP rewards To additionally incentivise LPs to deposit to the protocol and increase liquidity, LYRA rewards can be directed to boost yields. Even further upside will be captured by those who build and operate on-chain. Similarly, when users attempt to open short calls without enough of the underlying synth, such as sETH, they will be prompted to swap to sETH. supply of 1,000,000,000 LYRA coins. Avalon will allow users to partially collateralize their shorts, greatly improving capital efficiency. Bootstrapping the network through trading and liquidity incentives. supply of 10,000,000,000 LYR coins. https:// app.lyra.finance. 3. Lyra is the first dApp to use 1inch's API for Optimistic Ethereum since their launch 3 weeks ago. These are two powerhouses of Optimism and this is a great step forward for intra-chain composability and decentralisation in my opinion. Airdrop Alert Daily May 9, 2022. Stay tuned for more important updates, key date announcements, and exciting opportunities by following us on Twitter. This will be available only on optimism so users wanting to get exposed to the above rewards will need to be over there. This may be due to a big catalyst around a certain date (expiry) or due to an external catalyst the market is beginning to price in. Open Positions. How to trade on Lyra Walkthrough video guide Step 1: Add Optimistic Ethereum to your wallet Lyra is the first project built natively for OE. LYRA-ETH LP To help ensure deep liquidity for the LYRA token, users can earn additional boosted rewards as an LYRA-ETH LP. whitepaper. 22, Synthetix, a derivatives protocol, unveiled its new initiative with Lyra: an options protocol that launched last year. Designed natively for the Ethereum Layer 2 scaling solution Optimism, Lyra is the first protocol to manage risk for liquidity providers (LPs), allowing it to offer the best on-chain pricing for traders.
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