Difference between revisions of "Derive (DRV)"
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[https://www.lyra.finance/ Lyra] is a [[decentralized]] [[Option contracts|options]] trading protocol powered by a specialized automated market [[maker]] ([[Automated Market Makers (AMM)|AMM]]) system. | |||
==Basics== | ==Basics== | ||
| Line 7: | Line 9: | ||
*[https://ethhub.substack.com/p/ethhub-weekly-171?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozNzgzNTkyNywiXyI6IitrN3VtIiwiaWF0IjoxNjI0NDE2MDAyLCJleHAiOjE2MjQ0MTk2MDIsImlzcyI6InB1Yi0zOTEwIiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.Kx3AlwNLmFZp7Wz2eNJmurR8f1wp6GMrr8CG From] [[EthHub]] (22-6-2021): | *[https://ethhub.substack.com/p/ethhub-weekly-171?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozNzgzNTkyNywiXyI6IitrN3VtIiwiaWF0IjoxNjI0NDE2MDAyLCJleHAiOjE2MjQ0MTk2MDIsImlzcyI6InB1Yi0zOTEwIiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.Kx3AlwNLmFZp7Wz2eNJmurR8f1wp6GMrr8CG From] [[EthHub]] (22-6-2021): | ||
''"Lyra is DeFi’s first complete [[Option contracts|options]] [[Automated Market Makers (AMM)|AMM]] with features such as unified liquidity across all strikes and expiries, automated delta hedging for [[Liquidity Provider (LP)|LPs]], instant transactions and much more."'' | ''"[[Lyra]] is DeFi’s first complete [[Option contracts|options]] [[Automated Market Makers (AMM)|AMM]] with features such as unified [[liquidity]] across all strikes and expiries, automated delta hedging for [[Liquidity Provider (LP)|LPs]], instant [[transactions]] and much more."'' | ||
==History== | ==History== | ||
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===DAO=== | ===DAO=== | ||
* [https://blog.lyra.finance/introducing-the-lyra-launch-council/ The Lyra Launch Council] (28-8-2021) is a community elected group that will oversee the launch of the protocol and token. | * [https://blog.lyra.finance/introducing-the-lyra-launch-council/ The Lyra Launch Council] (28-8-2021) is a community elected group that will oversee the launch of the protocol and [[token]]. | ||
===Treasury=== | ===Treasury=== | ||
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===How it works=== | ===How it works=== | ||
* [https://newsletter.banklesshq.com/p/your-guide-to-the-synthetix-ecosystem?s=r From] [[Bankless DAO (BANK)|Bankless]] (7-6-2022): | |||
''"Lyra is a decentralized [[Option contracts|options]] trading protocol powered by a specialized [[automated market maker]] ([[Automated Market Makers (AMM)|AMM]]) system. Notably, Lyra uses [[Synthetix Network Tokens (SNX)|Synthetix’s]] [[sUSD]] [[Stablecoins|stablecoin]] as its exclusive quote asset, so traders pay for opening long positions or closing short positions with sUSD. Lyra also uses [[Synthetix]] as a one-stop protocol for getting long and short exposure on its markets’ base assets, i.e. delta hedging.''" | |||
===Fees=== | ===Fees=== | ||
===Upgrades=== | ===Upgrades=== | ||
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*Can be found [https://blog.lyra.finance/lyra-2022/ here] (22-12-2021): | *Can be found [https://blog.lyra.finance/lyra-2022/ here] (22-12-2021): | ||
# ''"The Avalon release (formerly v1.2) will arrive in Q1 2022, accommodating up to 12-week rolling expiries, partial collateralization for short positions, and the ability for LPs to freely enter/exit the liquidity pool, subject to a short delay.'' | # ''"The Avalon release (formerly v1.2) will arrive in Q1 2022, accommodating up to 12-week rolling expiries, partial collateralization for short positions, and the ability for LPs to freely enter/exit the [[liquidity pool]], subject to a short delay.'' | ||
# ''A comprehensive tokenomics proposal for LYRA to be introduced to allow LYRA to be staked for xLYRA to access boosted rewards for trading and providing liquidity.'' | # ''A comprehensive [[tokenomics]] proposal for LYRA to be introduced to allow LYRA to be [[staked]] for xLYRA to access boosted rewards for trading and providing liquidity.'' | ||
# ''Lyra Vaults structured products with on-chain, algorithmic strike selection/execution, is in the final stages of development and will be launched following the Avalon release."'' | # ''Lyra Vaults structured products with [[on-chain]], algorithmic [[strike]] selection/execution, is in the final stages of development and will be launched following the Avalon release."'' | ||
==Usage== | ==Usage== | ||
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===Cons=== | ===Cons=== | ||
* One of their investors, [[Divergence Ventures|Divergence]], got caught airdrop farming, hinting to insider knowledge (9-10-2021). It first [https://twitter.com/gabagooldoteth/status/1446500164991082497?t=UXotvUDvobB_jrLWjZ6Abw&s=19 came to light] due to Ribbon Finance: | * One of their investors, [[Divergence Ventures|Divergence]], got caught [[airdrop]] farming, hinting to insider knowledge (9-10-2021). It first [https://twitter.com/gabagooldoteth/status/1446500164991082497?t=UXotvUDvobB_jrLWjZ6Abw&s=19 came to light] due to [[Ribbon Finance]]: | ||
''"This @divdotvc analyst @_bridgeharris has made 652 $[[Ethereum (ETH)|ETH]] and counting from @ribbonfinance airdrops, quite impressive. finding wallets like their's and copytrading them is probably the best way to make it tbh. the strat was just deposit .1 eth in ribbon theta vault 140 days ago but across many many wallets"'' | ''"This @divdotvc analyst @_bridgeharris has made 652 $[[Ethereum (ETH)|ETH]] and counting from @ribbonfinance [[airdrops]], quite impressive. finding [[wallets]] like their's and copytrading them is probably the best way to make it tbh. the strat was just deposit .1 eth in ribbon theta [[vault]] 140 days ago but across many many wallets"'' | ||
* Divergence quickly [https://twitter.com/hellzbellza/status/1446525661913440256?s=20 released] tweets saying they were in crypto for more than money, realized they went to far ([https://twitter.com/0xsisyphus/status/1446579768237887489?s=21 dumping] the farmed token directly into ETH) and that they would send the ETH to the Ribbon DAO. | * Divergence quickly [https://twitter.com/hellzbellza/status/1446525661913440256?s=20 released] [[tweets]] saying they were in crypto for more than money, realized they went to far ([https://twitter.com/0xsisyphus/status/1446579768237887489?s=21 dumping] the farmed token directly into ETH) and that they would send the ETH to the Ribbon DAO. | ||
==Team, Funding, Partnerships, etc.== | ==Team, Funding, Partnerships, etc.== | ||
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Making these free wiki pages is fun but takes a lot of effort and time. | Making these free wiki pages is fun but takes a lot of effort and time. | ||
If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information. | If you have enjoyed reading, tips are appreciated :) This will help us to [[keep]] expanding this archive of information. | ||
[[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31 | [[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31 | ||
Revision as of 04:43, 13 June 2022
Lyra is a decentralized options trading protocol powered by a specialized automated market maker (AMM) system.
Basics
- Based in:
- Started in / Announced on: 15-6-2021
- Testnet release:
- Mainnet release:
- From EthHub (22-6-2021):
"Lyra is DeFi’s first complete options AMM with features such as unified liquidity across all strikes and expiries, automated delta hedging for LPs, instant transactions and much more."
History
Audits & Exploits
- Bug bounty program can be found [insert here].
Bugs/Exploits
Governance
Admin Key
DAO
- The Lyra Launch Council (28-8-2021) is a community elected group that will oversee the launch of the protocol and token.
Treasury
Token
Launch
Token Allocation
Utility
Other Details
Stablecoin
Coin Distribution
Technology
- Whitepaper can be found [insert here].
- Code can be viewed [insert here].
Implementations
How it works
"Lyra is a decentralized options trading protocol powered by a specialized automated market maker (AMM) system. Notably, Lyra uses Synthetix’s sUSD stablecoin as its exclusive quote asset, so traders pay for opening long positions or closing short positions with sUSD. Lyra also uses Synthetix as a one-stop protocol for getting long and short exposure on its markets’ base assets, i.e. delta hedging."
Fees
Upgrades
Staking
Validator Stats
Liquidity Mining
Scaling
Interoperability
Other Details
Oracle Method
Privacy Method
Compliance
Their Other Project
Roadmap
- Can be found here (22-12-2021):
- "The Avalon release (formerly v1.2) will arrive in Q1 2022, accommodating up to 12-week rolling expiries, partial collateralization for short positions, and the ability for LPs to freely enter/exit the liquidity pool, subject to a short delay.
- A comprehensive tokenomics proposal for LYRA to be introduced to allow LYRA to be staked for xLYRA to access boosted rewards for trading and providing liquidity.
- Lyra Vaults structured products with on-chain, algorithmic strike selection/execution, is in the final stages of development and will be launched following the Avalon release."
Usage
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
- One of their investors, Divergence, got caught airdrop farming, hinting to insider knowledge (9-10-2021). It first came to light due to Ribbon Finance:
"This @divdotvc analyst @_bridgeharris has made 652 $ETH and counting from @ribbonfinance airdrops, quite impressive. finding wallets like their's and copytrading them is probably the best way to make it tbh. the strat was just deposit .1 eth in ribbon theta vault 140 days ago but across many many wallets"
- Divergence quickly released tweets saying they were in crypto for more than money, realized they went to far (dumping the farmed token directly into ETH) and that they would send the ETH to the Ribbon DAO.
Team, Funding, Partnerships, etc.
Team
- Full team can be found [here].
Funding
- Got a $1M contribution from the synthetixDAO (9-8-2021).
- One of their investors, Divergence, got caught airdrop farming, hinting to insider knowledge.
Partners
(:
Knowledge empowers all and will help us get closer to the decentralised world we all want to live in!
Making these free wiki pages is fun but takes a lot of effort and time.
If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.
ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31
Also check out CoinTr.ee for more content.
