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What is Lyra (LYRA)?

Lyra basic info

Name:Lyra
Ticker:
Introduction:

What is Lyra (LYRA)?

Lyra is an open protocol on Ethereum that enables traders to trade options with a pricing model that's based on the market and adjusted for skew. What's more, Lyra quantifies the risks for liquidity providers and actively hedges them to encourage more liquidity. If you're interested in this protocol, you can check out the Lyra Interface, a web interface that's just one of many ways to engage with it. And if you want to govern the Lyra Protocol, you can use the Lyra Governance system enabled by the LYRA token.

Who are the Founders of Lyra (LYRA)?

Lyra was founded by Slava Gomzin and Wuzhou Yang. Iulian Gheorghiu is in charge of software engineering, while Zaenal Arifin is the chief art officer.

How does Lyra (LYRA) Work?

When engaging in options market making, the goal is to determine the market value for implied volatility (IV), or the expected volatility of the asset until it reaches expiration. If the IV is high, the cost to purchase an option will increase, while low IV will result in a decrease in cost to sell an option.

The Lyra AMM operates by increasing implied volatility when there is high demand for options, and lowering it when supply outweighs demand. This allows the AMM to reach a market-clearing value for IV for each strike and expiry.

The Lyra AMM provides options for various strikes and expiries, with tradeVol, a market-driven value for implied volatility that varies by expiry and strike. TradeVol is calculated by multiplying baseIV, which is specific to each expiry, and skewRatio, which is specific to each strike.

Lyra's fee function includes a flat fee based on option price, a flat fee for exchange costs, a dynamic fee based on the pool's vega risk, and a dynamic fee based on the difference between baseIV and GWAV, as well as the traded strike's skew ratio and vega.

What makes Lyra (LYRA) Unique?

Lyra's scalability sets it apart from most blockchains. While other blockchains take several minutes to hours to process and approve transactions, Lyra enables instant approval and the ability to process multiple transactions simultaneously. Additionally, Lyra's transaction fee structure is flexible, unlike the hardcoded fee mechanisms of most other blockchains. With its low cost and fast transactions, Lyra offers a versatile payment method that is difficult to achieve with mono-cryptocurrency systems. Furthermore, Lyra's decentralization provides unique features such as security, privacy, and permissionless access, setting it apart from traditional payment systems.

What is the LYRA Token?

The Lyra network operates using its native token called LYR. To pay for certain transaction fees, LYR tokens are utilized. The distribution of these tokens is carried out through various methods such as airdrops, bounties, and others. These tokens play a crucial role in initiating network activities and also serve as an incentive for both network and application development.

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Current price:
All-time high:$0.6898
All-time low:$0.0005778

LYRA supply and tokenomics

Circulating supply:580,900,600 LYRA
Total supply:1,000,000,000 LYRA
Max supply:1,000,000,000 LYRA
Market cap:$1.17M
Fully diluted market cap:$2.01M

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What is the development prospect and future value of LYRA?

The market value of LYRA currently stands at $1.17M, and its market ranking is #1991. The value of LYRA is not widely recognized by the market. When the bull market comes, the market value of LYRA may have great growth potential.

As a new type of currency with innovative technology and unique use cases, LYRA has broad market potential and significant room for development. The distinctiveness and appeal of LYRA may attract the interest of specific groups, thereby driving up its market value.

What will the price of LYRA be in 2025?
Based on LYRA's historical price performance prediction model, the price of LYRA is projected to reach $0.01370 in 2025.
What will the price of LYRA be in 2030?
In 2030, the LYRA price is expected to change by -5.00%. By the end of 2030, the LYRA price is projected to reach $0.02268, with a cumulative ROI of +1085.30%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of LYRA and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is LYRA worth investing or holding? How to buy LYRA from a crypto exchange?

If you want to buy LYRA, the following information may be helpful for your investment decisions:
In the last 7 days, the price of LYRA has fallen by -15.98%, leading to negative returns for most LYRA investors. The market is currently pessimistic about the price trend of LYRA.
It is important to note that the current price of LYRA has retreated by -99.71% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether LYRA is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in LYRA or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of LYRA, if you want to buy or sell LYRA, you can consider Bitget for your trading needs. The best place to buy LYRA is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Lyra has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Lyra. Here's a step-by-step guide on how to buy Lyra on Bitget.

How to get Lyra through other methods?

Using cash to buy Lyra is not the only way to obtain Lyra. If you have the time to spare, you can get Lyra for free.
Learn how to earn Lyra for free through the Learn2Earn promotion.
Earn free Lyra by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Lyra airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Lyra through Bitget Convert, Bitget Swap, or spot trading.

What is Lyra used for and how to use Lyra?

The use case of Lyra may expand as the crypto market and the project itself develop. Currently, you can use LYRA to achieve the following goals:
Arbitrage by trading LYRA: Since LYRA is a frequently traded cryptocurrency, the price of LYRA is always fluctuating. Earn more LYRA by buying low and selling high on the exchange. Bitget spot market provides a variety of LYRA trading pairs to fully meet your needs.
Earn by staking LYRA: You can also generate income through financial management methods such as staking LYRA or lending LYRA. Bitget Earn offers a variety of financial products designed to help you earn more income from your LYRA.
Send or pay LYRA: If you want to give LYRA to your friends, a charity, or a fundraiser, or you want to pay someone with LYRA, you can quickly and easily send LYRA to the recipient through their payment address.
You can also go to the official website of the Lyra project to learn more about the use cases of LYRA. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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LYRA resources

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LYRA price calculator

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LYRA
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1 LYRA = 0.002014 USD
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