With Ethena, Lyra Finance Provides Leveraged Exposure to Ethereum

  • With the launch of the sUSDeBULL vault, the platform gives depositors leveraged upside in the event that ETH’s price rises.

Through a cooperation with Ethena, Lyra Finance, a DeFi platform that offers tokenized derivatives and yield, is offering an additional 2.5x on sUSDe yields when ETH climbs.

In addition to receiving Ethena Sats and LDX Points from Lyra, depositors into the company’s new sUSDeBULL vault will also be exposed to the company’s automated options strategy, which tries to maintain yield during ETH price declines and increase it during gains.

Using the yield produced by the sUSDe the week prior, Lyra’s automatic options strategy purchases bull call spreads, giving customers a leveraged exposure to the upside of ETH through yield. Users run the risk of receiving no return on their capital if ETH falls lower.

According to DeFiLlama, Lyra’s total-value locked (TVL) has increased by more than ten times since the year’s beginning and is currently back at levels it hasn’t seen since Q1 2022.

Deposits for the product truly took off after Lyra enabled liquid restaking token (LRT) deposits at the end of May.

Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

Author: Lalit Mohan

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