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Lyra
About Lyra
Lyra (LYRA) is the native governance token of the Lyra Protocol, a decentralised options trading platform built on the Ethereum rollup (Lyra Chain) using the OP Stack. The LYRA token enables decentralised governance, where holders can stake tokens to propose and vote on protocol changes. Beyond governance, LYRA is used for staking rewards, supporting the Security Module to manage protocol risk, and compensating service providers essential to the protocol's development and maintenance.
Lyra (LYRA) is the native governance token of the Lyra Protocol, a decentralised options exchange built on the Lyra Chain, an Ethereum rollup developed using the OP Stack. Initially launched in 2021, Lyra has facilitated over $1.5 billion in notional trading volume. The protocol allows trading of financial instruments like European options, perpetual futures, and spot assets. The LYRA token underpins the platform’s decentralised governance, enabling token holders to influence protocol decisions by staking their tokens to receive stkLYRA, a staked version of the LYRA token with governance rights.
The *Lyra (LYRA)* token serves multiple purposes within the Lyra Protocol ecosystem beyond governance: