Rattibha

1/ There is a decentralized options trading platform that operates on both #Arbitrum and #Optimism $OP
• $1 Billion+ Trading Volume
• 160k+ Trades
• Just $47M Mcap
Let's take a look at the potential giant @lyrafinance $LYRA 🧵

2/ What is @lyrafinance ?
Lyra is a decentralized options trading platform that allows users to trade the crypto options market with very low fees and near-instant transaction speeds.
Lyra is made up of three core areas:
• Lyra Protocol
• Lyra Interface
• Lyra Governance

3/ Lyra Protocol
The Lyra Protocol is a suite of smart contracts that make up an AMM enabling traders to buy and sell options on #Crypto assets.
Traders buy or sell options from the MMV (Market Maker Vault) which is fuelled by liquidity providers.

4/ Fees generated by traders are paid out to the liquidity providers as a reward for providing liquidity.
This style of structure helps @lyrafinance maintain a more decentralized state than many other trading platforms.

5/ Lyra Interface
The Lyra Interface is the web interface that users interact with when trading and accessing the Lyra Protocol.
Many would agree that @lyrafinance has one of if not the cleanest UI for trading options in the space.

6/ Lyra Governance
The Lyra Protocol is governed using their native token, $LYRA.
Just holding $LYRA does not enable users to directly vote on decisions like a lot of DAOs operate instead $LYRA holders can vote to select representatives.

7/ The "Lyra Council" is made up of five representatives elected by $LYRA token holders.
Every 4 months a new council is selected, this ensures that the protocol is well governed and all changes made are transparent.

8/ Let's see how @lyrafinance is performing stats-wise.
Ever since their launch on #Arbitrum, there has been a constant uptick in TVL, launching on both $OP and Arbitrum was a great move by the team.

9/ Both networks are hot right now with @coinbase announcing the development of their own chain powered by @optimismFND and @arbitrum being the hot new L2 thanks to its tech and fundamentals.

10/ Since its launch on #Arbitrum @lyrafinance has seen consistent growth in all major areas such as Volume and Fees.
• $36M Total Volume
• $47k Total Fees
• $7.7M Open Interest
• $21.8M TVL

11/ Their stats on #Optimism $OP are just as impressive, since launch on $OP they have:
• $485M Total Volume
• $1M Total Fees
• $3.6M Open Interest
• $12M TVL

12/ It is clear to see that @lyrafinance is here to stay and be one of if not the biggest player in the crypto options trading sector.
Currently, @lyrafinance is ranked the second largest options platform by TVL.
However, it is proving to be the fastest growing.

13/ Staking
Lyra offers users the ability to stake their $LYRA tokens with a current APY of 5.69%.
Staking $LYRA boosts your trading rewards and vault.
Staking is not the liquidity providing that we spoke about earlier.

14/ Liquidity Providing
As spoken about earlier users can provide liquidity to the AMM making it possible for users to trade options.
This is done through the "Vault"
Liquidity providing currently offers 11% right up to 21% APY.

15/ The $LYRA Token
Price: $0.16
Market Cap: $47M
TVL: $37M
FDV: $161M
Circulating Supply: 290M
Max Supply: 1 billion
Purchasable on: Velodrome, Uniswap, Camelot, Sushiswap, Bitget, MEXC, BKEK

16/ When looking at a potential investment it is always a good idea to read up on the tokenomics and make sure there is a safe vesting schedule for any tokens held by the team or VCs.
@lyrafinance has done a great job of this...

17/ With 20% of the $LYRA token allocated to the team, this ensures a long-term incentive while also allowing the community to own a majority of the supply/project.
The teams' tokens are vested linearly over two years.

18/ Seed investors' $LYRA tokens are also vested linearly over two years with the final token unlock to be on Jan 1st, 2024.
The diversification round investors' tokens are locked until September 2023 and vest linearly over 3 years with the final token unlock Sept 1st, 2026

19/ All in all the @lyrafinance tokenomics add up and make sense both for the project and the team.
At just a $47 million market cap with the impressive statistics we spoke about earlier, it is clear that $LYRA will be a giant in the options trading space.

20/ Useful Links:
Website: lyra.finance
Twitter:
Stats: stats.lyra.finance
DeFiLlama: defillama.com
Docs: docs.lyra.finance