Lyra Token is the native utility token for an innovative open protocol designed for trading options on the Ethereum network. This platform enables traders to engage in buying and selling options with a unique market-based pricing model that incorporates skew adjustments, ensuring accurate pricing for transactions. The protocol stands out by quantifying the risks faced by liquidity providers and implementing active hedging strategies. This approach not only enhances the stability of the system but also encourages more liquidity to flow into the platform, fostering a vibrant trading environment. LYRA serves multiple essential functions within the ecosystem. It is utilized for depositing into the security module, which provides a safeguard for the protocol’s operations. Additionally, token holders can participate in governance votes, allowing them to influence the allocation of network resources and contribute to the decision-making processes. Moreover, LYRA plays a critical role in incentivizing traders and liquidity providers, aligning their interests with the overall growth and success of the protocol. By utilizing LYRA, participants can engage more deeply within the platform, enhancing their trading experience and potential returns. Overall, Lyra Token is integral to the functionality of the platform, facilitating a secure, efficient, and user-driven options trading experience.