UPDATED (MAY 8 12:00:00 AM UTC)
The LDX snapshot has been taken as MAY 8 12:00:00 AM UTC.
Purchasing LYRA from May 8 12:00 AM UTC onwards will not confer any additional LDX.
Blocknumbers for the LDX snapshot were as follows:
Optimism. The balance on Optimism after the block: 119763811
Arbitrum. The balance on Arbitrum after the block: 208941786
Ethereum. The balance on Ethereum after the block: 19821623
Timeline
The timeline for the migration is as follows:
April 19: Proposal approved, LDX farming starts
April 24: LYRA trading rewards are claimable
May 1: Uniswap LP incentives end
May 8: LYRA balances are snapshotted
Q3 2024: LDX is claimable 1:1 for LYRA, and additional LDX is airdropped to farmers and traders
FAQs
General FAQs
What is LDX?
LDX is the utility token for the Lyra Derivatives Network, encompassing the chain, protocol, exchange, wallet and more.
How will the migration affect Lyra's governance mechanisms?
Governance will continue with the balances recorded at the snapshot until the launch of LDX. Voting parameters, such as duration, quorum, and proposition threshold, will remain aligned with current standards until then.
When is the official launch of LDX planned?
The launch of LDX is targeted for before the end of Q3. The exact date will depend on achieving necessary liquidity and establishing partnerships with both centralized and decentralized trading venues.
How will the LDX conversion rate be calculated?
The conversion from LYRA to LDX will be at a 1:1 ratio based on the balances at the time of the snapshot.
When was the snapshot date?
The snapshot occurred on May 8, 12:00:00 AM UTC.
Blocknumbers are as follows:
Optimism. The balance on Optimism after the block: 119763811
Arbitrum. The balance on Arbitrum after the block: 208941786
Ethereum. The balance on Ethereum after the block: 19821623
Post-Snapshot FAQs (After May 8)
What is happening with Lyra's liquidity and demand?
On May 8 the migration from LYRA to LDX began and a snapshot of all LYRA and stkLYRA balances across all networks was taken. Now Lyra's liquidity and demand are trending to 0 and is expected since LYRA now has no utility or governance value. This utility and governance value will be transferred to LDX upon the launch in Q3.
I hold LYRA, what do I need to do?
You don't need to do anything. Your LYRA will migrate to LDX after the snapshot.
I hold stkLYRA, what do I need to do?
Similar to LYRA holders, you don't need to take any action. Your stkLYRA will be converted to LDX based on the snapshot.
What happens if I transfer or sell my Lyra after the snapshot?
There are no restrictions on what users can do with their LYRA. However, we strongly recommend against purchasing LYRA now since it will confer no rights to LDX. We continue to recommend that LPs withdraw their liquidity.
I didn't withdraw my LYRA LP position before the snapshot. What should I do?
Fill in this form: https://forms.gle/RmXDoMMEuMs9BkQ1A