Lyra DAO passed a proposal (https://forums.lyra.finance/t/lrfc-migrate-lyra-to-ldx/208) to migrate the LYRA token to LDX via a snapshot on May 8. Users who purchase LYRA after the snapshot date will not receive any allocation of LDX and may be subject to loss of funds. LPs are strongly encouraged to withdraw funds before May 8.
Lyra DAO passed a proposal (https://forums.lyra.finance/t/lrfc-migrate-lyra-to-ldx/208) to migrate the LYRA token to LDX via a snapshot on May 8. Users who purchase LYRA after the snapshot date will not receive any allocation of LDX and may be subject to loss of funds. LPs are strongly encouraged to withdraw funds before May 8.
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.