Derive (DRV)

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Revision as of 07:57, 27 December 2021 by wiki_crypto>Zeb.dyor (→‎Roadmap)
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Basics

"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

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

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):
  1. "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.
  2. 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.
  3. 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

(:

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