Lyra is an options trading protocol deployed on Optimism that recently launched a testnet and plans a mainnet launch in September. The protocol is integrated with Synthetix, which allows Lyra to hedge risk for liquidity providers and helps keep fees low for traders. Lyra aims to bring scalable, capital-efficient options trading to DeFi, addressing a market that has struggled to find traction. The team launched its testnet less than a month before the article and intends to use the newly raised funds to hire additional engineers. ParaFi Capital described Lyra’s novel on-chain pricing mechanism, Synthetix integration, and Optimism deployment as key to introducing traders and liquidity providers to the protocol.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Jul 2021