Lyra’s new offering allows liquid restaking token holders to automate and package any yield-bearing strategy into an ERC-20 token, which can be used elsewhere.Decentralized options platform Lyra Finance now allows holders of liquid restaking tokens to generate an additional yield. The platform will let holders of LTR earn extra income using automated versions of popular strategies like basis trade and covered calls.
“We believe that tokenized derivatives yield is a game-changing primitive that will underpin the bootstrapping of networks and the expansion of sustainable crypto economic markets,” Forster said. Initially, users can tokenize basis trade, a popular market-neutral strategy that seeks to profit from discrepancies in two markets. Lyra told CoinDesk that tokenized covered calls will be made available later.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ForbesTech - 🏆 318. / 59 Read more »
10 CFO Strategies to Drive Digital Finance TransformationDownload the Digital Finance report with 10 imperatives for CFOs to drive digital finance transformation in your finance function and organization. Explore now.
Source: Gartner_inc - 🏆 455. / 53 Read more »