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About Lyra(LYRA)
What is Lyra (LYRA)?
Lyra is an open protocol on Ethereum that enables traders to trade options with a pricing model that's based on the market and adjusted for skew. What's more, Lyra quantifies the risks for liquidity providers and actively hedges them to encourage more liquidity. If you're interested in this protocol, you can check out the Lyra Interface, a web interface that's just one of many ways to engage with it. And if you want to govern the Lyra Protocol, you can use the Lyra Governance system enabled by the LYRA token.
Who are the Founders of Lyra (LYRA)?
Lyra was founded by Slava Gomzin and Wuzhou Yang. Iulian Gheorghiu is in charge of software engineering, while Zaenal Arifin is the chief art officer.
How does Lyra (LYRA) Work?
When engaging in options market making, the goal is to determine the market value for implied volatility (IV), or the expected volatility of the asset until it reaches expiration. If the IV is high, the cost to purchase an option will increase, while low IV will result in a decrease in cost to sell an option.
The Lyra AMM operates by increasing implied volatility when there is high demand for options, and lowering it when supply outweighs demand. This allows the AMM to reach a market-clearing value for IV for each strike and expiry.
The Lyra AMM provides options for various strikes and expiries, with tradeVol, a market-driven value for implied volatility that varies by expiry and strike. TradeVol is calculated by multiplying baseIV, which is specific to each expiry, and skewRatio, which is specific to each strike.
Lyra's fee function includes a flat fee based on option price, a flat fee for exchange costs, a dynamic fee based on the pool's vega risk, and a dynamic fee based on the difference between baseIV and GWAV, as well as the traded strike's skew ratio and vega.
What makes Lyra (LYRA) Unique?
Lyra's scalability sets it apart from most blockchains. While other blockchains take several minutes to hours to process and approve transactions, Lyra enables instant approval and the ability to process multiple transactions simultaneously. Additionally, Lyra's transaction fee structure is flexible, unlike the hardcoded fee mechanisms of most other blockchains. With its low cost and fast transactions, Lyra offers a versatile payment method that is difficult to achieve with mono-cryptocurrency systems. Furthermore, Lyra's decentralization provides unique features such as security, privacy, and permissionless access, setting it apart from traditional payment systems.
What is the LYRA Token?
The Lyra network operates using its native token called LYR. To pay for certain transaction fees, LYR tokens are utilized. The distribution of these tokens is carried out through various methods such as airdrops, bounties, and others. These tokens play a crucial role in initiating network activities and also serve as an incentive for both network and application development.
LYRA to local currency
Crypto calculator- 1 LYRA to USD$0
- 1 LYRA to JPY0.0025260595
- 1 LYRA to VND0.0025260595
- 1 LYRA to RUB0.0025260595
- 1 LYRA to EUR (Español)0.0025260595
- 1 LYRA to TRY0.0025260595
- 1 LYRA to EUR (Italiano)0.0025260595
- 1 LYRA to EUR (Français)0.0025260595
- 1 LYRA to EUR (Deutsch)0.0025260595
- 1 LYRA to CNY0.0025260595
- 1 LYRA to TWD0.0025260595
- 1 LYRA to EUR (Português)0.0025260595
- 1 LYRA to IDR0.0025260595
- 1 LYRA to THB0.0025260595
- 1 LYRA to PLN0.0025260595
- 1 LYRA to UAH0.0025260595
- 1 LYRA to UZS0.0025260595
- 1 LYRA to SAR0.0025260595
- 1 LYRA to PHP0.0025260595
How to buy Lyra (LYRA)
Trade LYRA perpetual futures
After having successfully signed up on Bitget and purchased USDT or LYRA tokens, you can start trading derivatives, including LYRA futures and margin trading to increase your income.
The current price of LYRA is $0.002526, with a 24h price change of -3.87%. Traders can profit by either going long or short onLYRA futures.
Join LYRA copy trading by following elite traders.
Lyra news
See moreLyra: There is a 20% chance that Ethereum will break through $5,000 by the end of June
Lyra introduces LDX token, adds yield-bearing derivatives
Lyra Finance unveiled a new token, LDX. A snapshot of existing Lyra token holders was taken on May 8. The team plans to convert Lyra holders’ balances 1:1 to LDX. The token is expected to roll out in the third quarter.
Lyra Finance allows liquidity re-collateralization token holders to earn additional income through automated trading strategies
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