On May 8 at 00:00 UTC, a snapshot of LYRA balances was taken. These values will seed the initial balances of LDX when it is released in Q3 2024. As LYRA no longer has utility or governance value, demand and liquidity are declining - this is to be expected. The DAO recommends against purchasing LYRA since it will confer no rights to LDX.
On May 8 at 00:00 UTC, a snapshot of LYRA balances was taken. These values will seed the initial balances of LDX when it is released in Q3 2024. As LYRA no longer has utility or governance value, demand and liquidity are declining - this is to be expected. The DAO recommends against purchasing LYRA since it will confer no rights to LDX.
Lyra is an open protocol for trading options built on Ethereum. Lyra allows traders to buy and sell options that are accurately priced with the first market-based, skew adjusted pricing model. Lyra also quantifies the risks incurred by liquidity providers and actively hedges them, encouraging more liquidity to enter the protocol.
LYRA is the native utility token that is used for:
Depositing in the security module to backstop the protocol.
Used for governance votes to determine how network resources are allocated.