We are happy to announce that we added support for Lyra! Lyra is the first complete options AMM of DeFi, on Optimism. Options trading allows a user to buy exposure in an asset — like ETH — without buying the actual asset. Very simplified, buying a put option lets you bet on falling prices and a call option on rising prices of the underlying asset for a specified time. Therefore, options can help you to manage risk, obtain leverage, and construct any payoff structure.
Why Lyra?
Lyra is now live on Optimism, the popular Layer 2 (L2) scaling solution. You probably know Layer 2 for their apparent benefits: Lower transaction cost and faster transaction speed.
By using Lyra, you do also benefit from L2:
- 🤑Low fees: 100x cheaper than Ethereum mainnet
- ⏩Fast: Sub-second trade confirmation
- 🌅Use the intuitive interface: Hedge your positions or sell puts for yield
Good to know for option pros out there: Lyra uses the Black-Scholes pricing model and market demand and supply to map the implied volatility surface per expiry.
Another advantage of composable hedging is built based on Synthetic to hedge the delta risk of its LPs. When users are on Lyra, LPs take on exposure to the underlying asset, but Lyra will automatically trade long/shorts on the underlying assets through Synthetix for protecting LPs.
Our opinion: An interesting new protocol with ~$50 million TVL worth taking a look at!
How to use Lyra on imToken
Enter your wallet, and switch to “Optimism” in the top menu.
Search “Lyra” on the DApp browser and try it on imToken.
About imToken
imToken is a decentralized digital wallet used to manage and safeguard a wide range of blockchain- and token-based assets, identities and data. Since its founding in 2016, it has helped its users transact and exchange billions of dollars in value across more than 150 countries around the world. imToken allows its users to manage assets on 20+ mainstream blockchains, as well as seamlessly connect with DApps via a decentralized applications browser.
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Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Digital asset investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.
