Simple Summary
Launch a Chainlink(LINK) market on the Optimistic Ethereum, using SNX Perps V2 market as the hedging venue.
Abstract
This LEAP proposes launching the LINK market on the Optimistic Ethereum deployment. It will be initialised with four boards which expire 7, 14, 21, and 28 days following launch (all at 8 am UTC time). Each board will have several strikes listed as required for a functional market.
Motivation
Lyra's AMM mechanism generalizes to any asset with a liquid spot market. LINK is now tradeable on Synthetix's perps V2, as such, the addition of a LINK market would increase the range of assets available to traders. As well as allow hedging by chainlink node operators to hedge their exposure.
Specification
Overview
The work required to launch the Link market will not require any additional contracts compared to the already deployed markets. The process for launching will require periphery updates to the surrounding infrastructure.
Rationale
This LEAP proposes launching the LINK market alongside the ETH market. The previously launched markets on the new, Newport version have been performing as expected, and adding additional markets to the optimism deployment will give traders an increased range of assets to trade against.
Technical Specification
- Liquidity
The chainlink market will be deployed in deposit-only mode with a 3-day period allowing for capital to move into the pool before trading is subsequently opened.
- Options Quoted
Options will be listed with 7, 14, 21, and 28-day expiries from launch.
Test Cases
N/A
Configurable Values
Configurable values will be initialized by the risk council and then bounded by governance before trading is live.
Simple Summary
Launch a Chainlink(LINK) market on the Optimistic Ethereum, using SNX Perps V2 market as the hedging venue.
Abstract
This LEAP proposes launching the LINK market on the Optimistic Ethereum deployment. It will be initialised with four boards which expire 7, 14, 21, and 28 days following launch (all at 8 am UTC time). Each board will have several strikes listed as required for a functional market.
Motivation
Lyra's AMM mechanism generalizes to any asset with a liquid spot market. LINK is now tradeable on Synthetix's perps V2, as such, the addition of a LINK market would increase the range of assets available to traders. As well as allow hedging by chainlink node operators to hedge their exposure.
Specification
Overview
The work required to launch the Link market will not require any additional contracts compared to the already deployed markets. The process for launching will require periphery updates to the surrounding infrastructure.
Rationale
This LEAP proposes launching the LINK market alongside the ETH market. The previously launched markets on the new, Newport version have been performing as expected, and adding additional markets to the optimism deployment will give traders an increased range of assets to trade against.
Technical Specification
- Liquidity
The chainlink market will be deployed in deposit-only mode with a 3-day period allowing for capital to move into the pool before trading is subsequently opened.
- Options Quoted
Options will be listed with 7, 14, 21, and 28-day expiries from launch.
Test Cases
N/A
Configurable Values
Configurable values will be initialized by the risk council and then bounded by governance before trading is live.
Copyright
Copyright and related rights waived via CC0.
Off-Chain Vote
For
3.05M stkLYRA91%
Against
236.62K stkLYRA7.1%
Abstain
66.64K stkLYRA2%
Timeline
Jul 25, 2023Proposal created
Jul 25, 2023Proposal vote started
Jul 28, 2023Proposal vote ended
Oct 26, 2023Proposal updated