What is Lyra?
Updated this week

Lyra is a decentralized options and perpetuals exchange for cryptocurrencies like ETH and BTC. When trading on Lyra, you have access to key features such as cross-margin, cross-asset collateral, and portfolio margin.

Cross-Margin

All asset balances (e.g., USDC, WETH, WBTC) are used as collateral for all perps and options positions in a subaccount. Users can create multiple subaccounts to isolate risk.

Cross-Asset Collateral

Various base assets (e.g., WETH, WBTC) can be used as collateral for perps and options positions, allowing users to:

  • Sell a BTC call with WBTC collateral (covered call)

  • Sell an ETH call with WBTC collateral

  • Long a BTC perp with ETH collateral

Portfolio Margin

Scenario-based model in which the maximum loss of an entire portfolio is used to determine margin requirements, providing complex portfolios with the best capital efficiency.

Introduction Video

An overview of some of Lyra's key features from Amberdata:

Did this answer your question?