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What is Lyra?

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Lyra is a self-custodial, high performance crypto trading platform for options, perpetuals and spot trading.

The trading platform is made up of three components:

  1. Lyra Chain: A settlement layer for transactions. This is an Optimistic rollup built on the OP Stack, secured by Ethereum mainnet. Governed by the Lyra DAO.
  2. Lyra Protocol: A settlement protocol that enables permissionless, self-custodial margin trading of perpetuals, options and spot, deployed to the Lyra Chain. Governed by the Lyra DAO.
  3. Lyra Exchange: An orderbook that efficiently matches orders and settles them to the Lyra Protocol. Operated by Lyra Trading Co.

For a deep dive into the Lyra Chain, consult the OP Stack Docs.

All components are governed by the Lyra DAO via a fully on-chain and autonomous system. This documentation describes the chain, protocol and exchange. You can read it in its entirety or skip to whichever section is relevant to you.


The Lyra Exchange uses a centralized limit order book, but remains self-custodial, and settles trades and liquidations in a trustless manner.

What’s Next

Learn about the instruments and collateral that Lyra supports