SIREN Q32021 Roadmap

We have been busy swimming in Q2 and are happy to announce our next quarter roadmap. This post aims to outline the technical and community direction of SIREN Protocol for the upcoming Q3.

Q2 and v2 Lyonesse Release

  • Moved from American to European style options
  • Switched from physical settlement to cash settlement
  • Switched to EIP-1155 for lower gas costs
  • Redesigned our user interface

SIREN Q3

User-facing upgrades

  • Series suggestion widget: Allow users to specify desired strikes / expirations
  • Pool Profile page: Provide extra data on pools regarding asset structure and historical performance
  • Other UX improvements: Transaction status and notification center

Protocol upgrades

  • SirenExchange: A new mechanism to allow users to pay an option premium with an ERC-20 token they possess as the option’s collateral token.

Marketing | Community

  • Trading Focused Marketing Campaigns: Comprehensive marketing campaigns (i.e. a trading competition) to trade DeFi options on SIREN platform. Further educational guides will also help traders execute more sophisticated strategies.
  • Community Grants: We launched SIREN Grants and will continue to fund as many SIREN grantees to further increase the growth of our community and decentralization efforts.
  • Documentation: For general and developers specifically, we will be improving them to make them more ecosystem friendly. We believe in making it easy for other developers to build on our protocol.
  • Community Updates: Regular community calls with publication updates via Medium and Substack to update our community about our activities for further transparency.

Additional Upgrade Information

Organic APY Returns

  • Collecting options premiums when traders buy options
  • SI reward tokens via the SIREN LPP (Claim button on the Pool tab)

Until the recent Lyonesse release we were showing only the SI token distribution part in the LP rewards however this only represents one the part of the total returns.

In Q3, we aim to show that pools have more than just SI rewards. There is an “organic” yield from selling options to traders. These are the main yield earnings for an options writer.

Series suggestion widget

Pool Profile page

SirenExchange

This will no longer be a problem with the upcoming SirenExchange. It will allow a trader to purchase any option if they possess at least one of the tokens from a list of DeFi’s most popular tokens. Behind the scenes, the SirenExchange finds the most efficient swap between the trader’s token and the AMM’s collateral token, performs the swap, and then purchases the option. We hope the SirenExchange will ease the process of purchasing options in a significant way.

In Q3, we look forward to swimming deeper and making SIREN and DeFi options accessible to all across the deep sea. 🧜‍♀️🔱

We welcome any feedback below ⬇️

SIREN is a decentralized platform for trading cryptocurrency options designed for the sophisticated degen. As a trader, come participate in market upside while limiting your risk by buying options on your favorite DeFi tokens. As an LP, come pool your favorite DeFi assets to passively earn rewards when people bet on the markets.

Join the conversation: Twitter | Siren App | Discord | Telegram