Teach you how to participate in Lyra’s liquidity mining

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How to participate in the liquidity mining recently launched by Synthetix Ecological Two-tier Option Agreement Lyra?

Written by: Eric

Synthetix second-tier option agreement Lyra recently completed a $3.3 million financing led by Framework Ventures and ParaFi Capital. Its Ethereum options product has also completed more than 3,000 transactions within two weeks of its launch. However, due to sUSD The low supply on the second floor caused Lyra to maintain a certain amount of liquidity by restricting the upper limit of transactions and increasing slippage.

As the key asset sUSD in Lyra’s liquidity pool as collateral and option trading, it has only just exceeded 10 million (Optimism) so far. In order to increase the supply of sUSD, and at the same time increase the depth and liquidity of the option pool on Lyra, Lyra officially launched a two-and-a-half week Optimism sUSD liquidity mining test plan yesterday, starting at 8:00 on September 13 It ends at 8:00 on September 27th.

How to participate in liquidity mining

This liquidity mining will reward a total of 375,000 LYRA users who provide liquidity in the sUSD (on Optimism)/DAI liquidity pool on Uniswap. The specific participation methods are as follows:

  1. First, the user needs to bridge SNX and DAI to Optimism through the Optimism gateway , click on the upper right corner to connect to the wallet, and then proceed:
  2. Use Synthetix’s Staking DApp to mint sUSD on Optimism. Note that you need to switch the network supported by the wallet to Optimism when casting (you can directly switch the network supported by the wallet through “SWITCH TO L2” in the left column of the webpage). For the specific method of casting sUSD, please refer to “Teach you how to play Synthetix basic functions.” 》 Teach you how to participate in Lyra's liquidity mining
  3. After completing the above two steps, you already have sUSD and DAI on Optimism that can provide liquidity in your wallet, and you can enter the “Pools” page of the Lyra Trading DApp: Teach you how to participate in Lyra's liquidity mining

Then click Add Liquidity to enter Uniswap’s sUSD/DAI pool. After ensuring that the wallet is connected to the Optimism network, add liquidity to the liquidity pool. The official Lyra will be able to obtain rewards in the price range of 0.99005-1.2995 (DAI per sUSD ) Range between: Teach you how to participate in Lyra's liquidity mining

After that, just wait for the completion of the liquidity addition to start mining. In addition, Lyra plans to start the liquidity mining plan of the Ethereum fund pool at 17:00 on September 17th. The plan will end at 17:00 on October 1st. The reward will also be 375,000 LYRA. The specific method has not yet been announced. .

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