Launch a Chainlink(LINK) market on the Optimistic Ethereum, using SNX Perps V2 market as the hedging venue.
This LEAP proposes launching the LINK market on the Optimistic Ethereum deployment. It will be initialised with four boards which expire 7, 14, 21, and 28 days following launch (all at 8 am UTC time). Each board will have several strikes listed as required for a functional market.
Lyra’s AMM mechanism generalizes to any asset with a liquid spot market. LINK is now tradeable on Synthetix’s perps V2, as such, the addition of a LINK market would increase the range of assets available to traders. As well as allow hedging by chainlink node operators to hedge their exposure.
The work required to launch the Link market will not require any additional contracts compared to the already deployed markets. The process for launching will require periphery updates to the surrounding infrastructure.
This LEAP proposes launching the LINK market alongside the ETH market. The previously launched markets on the new, Newport version have been performing as expected, and adding additional markets to the optimism deployment will give traders an increased range of assets to trade against.
The chainlink market will be deployed in deposit-only mode with a 3-day period allowing for capital to move into the pool before trading is subsequently opened.
- Options Quoted
Options will be listed with 7, 14, 21, and 28-day expiries from launch.
Configurable values will be initialized by the risk council and then bounded by governance before trading is live.
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