Recently, Lyra announced that it received a $3 million investment from Framework Ventures and GSR as part of a strategic round. Lyra stated that it will continue to collaborate with reputable and experienced venture capital partners as the protocol continues to evolve toward its goal of becoming the volatility engine that powers DeFi.
What is Lyra?
In August 2021, Lyra was launched as one of the first protocols to access the scalability of Layer 2 Ethereum on Optimism. With the launch, Lyra Market Maker Vaults was developed, a new approach to Automated Market Maker for options that combines a best-in-class dynamic volatility model and risk management architecture to provide well-priced, two-way options markets on DeFi.
In short, Lyra has designed and developed an alternative decentralized exchange platform with first performant, scalable and accessible. Since the launch of Lyra, the decentralized options trading protocol has captured the following statistics:
- it generated a nominal options trading volume of over $850 million.
- 90,000 transactions were supported from more than 15,000 different addresses.
- It supported 6+ protocols, choosing to integrate its liquidity.
Thus, Lyra managed to make its name in the industry.
About Lyra
Lyra, built on Ethereum, is a protocol for option liquidity. Lyra users have access to the first market-based, skew-adjusted pricing model used to buy and sell options.
References
blog.lyra.finance
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