What is Lyra Protocol

Lyra Protocol or LYRA is a decentralized exchange (DEX) native to Layer-2 Ethereum. It is a set of smart contracts creating an Automated Market Maker (AMM) for trading options. Essential information for their token is available on the MEXC Digital asset introduction page. Furthermore, we are listing (LYRA/USDT – Trade it here) on our Assessment Zone, check it out now!

What is Lyra Network
What is Lyra Network

What is Available in Lyra Protocol?

Lyra is bringing a new trading experience for all crypto lovers. It is a decentralized options exchange based on Optimistic Ethereum. Now, traders have 24/7 access to crypto markets while charging low fees and processing transactions in milliseconds.

Fundamentally, option market making boils down to determining a market value for implied volatility (IV). It could also be the expected volatility of the asset from now until expiration. For example. if the IV value is high, the cost of purchasing an option rises.

The Lyra AMM’s core mechanism is to increase implied volatility when the demand is high. Similarly, it will decrease the implied volatility when supply is high. As a result, the AMM can converge to a market-clearing IV value for each strike and expiry.

Is Lyra Protocol Safe to Use?

The Lyra Protocol is ultimately a very experimental project. It has great opportunities but users but be aware of their risks. You can learn more about the project at their whitepaper, check it out now!

Is Lyra Protocol a Good Investment?

Lyra Protocol is a good and fun project. It has the potential to provide users with good rewards. Therefore, you can try short-term and long-term investments. However, it is crucial for users to prepare a proper exit strategy before investing. It is also important to consult your financial adviser for any investment plans. This is not financial advice.

Where to buy LYRA

You can find LYRA here at MEXC! We are listing LYRA/USDT in our Assessment Zone!

What is the Price of LYRA Tokens?

The live price of LYRA is coming soon. You can check the live price of their token right here!

How to buy LYRA Tokens

You can buy LYRA Tokens on MEXC by following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “LYRA” using the search bar to see the available trading pairs. Take LYRA/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of LYRA you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy LYRA] to confirm your order. You will find the purchased LYRA in your Spot Wallet.

You can find a detailed guide on how to buy LYRA Tokens here.

Keep Yourself Updated With The Crypto Trend

Check out all of the listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! What’s more, MEXC lists moonshots and offers access to trade major cryptocurrencies. Visit the Hot Projects section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency!

Join MEXC and Start Trading Today!