Welcome to the second edition of the "Lyra QMonthly Report"! We are thrilled to bring you more valuable insights and updates about Lyra, saving you the hassle of searching for alpha threads on Twitter and avoiding rate limitations (I got rate limited 9 times). Buckle your fuckles and let’s go!

Plan for today’s Report:

1. Lyra’s Stats and Opportunities for both networks

   1. Volume

   2. Fees

   3. New and Existing Traders and Trades

   4. Traders PnL

   5. OI

   6. Staking APRs

2. Lyra’s News

   1. Twitter

   2. Other sources

3. Option Market Review

4. News of the Month

We are still in the phase of the market with high volatility and high losses for users because of it. The effects of high market volatility on crypto markets have led us to increasing Volume on Arbitrum and decreasing after 3 waves of liquidations. But for Optimism it was only about increasing volume, significant shifts in trading volumes across two chains can be explained by Bedrock update and various markets on Optimism that Arbitrum can’t give.

Arbitrum VolumeAverage Monthly Volume - $66,105,040 (-2.94%)Total Cumulative Volume - $396,630,241

• February - $21,766,937

• March - $63,855,786 with +193.36% monthly growth

• April - $81,331,819 with +27.37% monthly growth

• May - $86,095,534 with +5.86% monthly growth

• June - $87,499,128 with +1.63% monthly growth

• July - $56,081,037 with -35.91% monthly drop

The first decrease in volume for Arbitrum markets is caused because of ATH in liquidations, outflow of traders to Optimism markets and low volatility after that. With new markets like the upcoming XRP listing, we can expect an equal Arbitrum Volume to what we have now.

Optimism Volume

Now we can start to compare months for Optimism markets, and we already have humongous growth in Volume!

Average Monthly Volume - $20,199,721Total Cumulative Volume - $40,399,443

• June - $13,131,163

• July - $27,268,280 with +107.66% monthly growth

We can expect a future outflow of capital from Arbitrum to Optimism because of:

• Better LPing

• Higher rewards (TVL to Volume) and better pool peroformance

• More markets

• Cheaper and faster execution of trades

For this month Volume has risen from $353,680,367 to $437,029,684. The major part of Volume still comes from the Lyra's Arbitrum network integration. The Optimism integration of the protocol is now nearly half of the Arbitrum Monthly Volume. It sits with $27,268,280 for Optimism vs $56,081,037 for Arbitrum.

Arbitrum Fees

Average Monthly Fees - $83869.6Total Cumulative Fees - $503,218

• February - $29,587

• March - $81,035 with +173.88% monthly growth

• April - $103,108 with +27.23% monthly growth

• May - $126,286 with +22.47% monthly growth

• June - $101,236 with -19.83% monthly drop

• July - $61,966 with -38.79% monthly drop

No anomalies during this month that gave a major part of all fees like we saw in May but still a decent result with a small decrese for second month in a row and this is not a good sign.

Optimism Fees

• June - $16,793

• July - $33,020 with +96.63% monthly growth

Newport Optimism integration has indeed proven to be a significant step, and its initial performance has surpassed expectations with x3 growth compared to June results. Cost-effective transactions and new markets are game changers for Lyra.

And with current traction and success Lyra achieved just the beginning of Optimism markets growth. We can expect to see approximately an additional $1,000,000 in Volume per exotic market (OP and ARB markets have ±$1m in 30d Volume)

Arbitrum Users and Trades

Average Monthly New Traders - 822.2 Average Monthly New Trades - 4666.1 Total Cumulative Traders - 4,326Total Cumulative Trades - 27,997

(Cumulative Trades/Cumulative Traders)

• February - 518 new Traders with 1,809 Total Trades (3.49 Trades per Trader (Cumulative Trades/Cumulative Traders))

• March - 1,739 new Traders with 6,182 Total Trades (3.54 Trades per Trader)

  • March - +235.71% growth for amount of Traders with +241.74%% growth in the amount of trades made

• April - 1,062 new Traders with 5,615 Total Trades (4.09 Trades per Trader)

  • April - -38.93% growth for amount of Traders with -9.17% growth in the amount of trades made

• May - 503 new Traders with 5,418 Total Trades (4.97 Trades per Trader)

  • May- -52.64% growth for amount of Traders with -3.51% growth in the amount of trades made

• June - 289 new Traders with 5,324 Total Trades (5.92 Trades per Trader)

  • June - -42.54% growth for amount of Traders with -1.73% growth in the amount of trades made

• July - 215 new Traders with 3,649 Total Trades (6.47 Trades per Trader)

  • July - -25.61% drop for amount of Traders with -31.46% drop in the amount of trades made

As you can see we can have a decrease in amount of new users from the peak trading activity in March, which was caused by quest.

Optimism Users and Trades

Average Monthly New Traders - 868.5Average Monthly New Trades - 2,173Total Cumulative Traders - 458Total Cumulative Trades - 4083

• June - 274 Traders with 1,737 Trades (6.33 Trades per Trader)

• July - 184 Traders with 2,346 Trades (8.91 Trader per Trader)

  • July - -32.85% drop for amount of Traders with +35.06% growth in the amount of trades made

The user ratio for Arbitrum to Optimism is approximately 2.5:1 for June, indicating Arbitrum's higher adoption. However, when considering trades throughout July, the ratio is 1.55:1, indicating a narrower gap and raising adoption of Optimism markets.

For Arbitrum

On June 26th, we witnessed an ATH liquidation of -$225,000. Following this ATH liquidation, the market experienced two additional waves of liquidations. On June 30th, a wave of -$47,000 liquidation occurred. A week later, on July 7th, a third wave of -$26,000 liquidation struck the Lyra’s markets.

For Optimism

For Optimism we can see a bit more optimistic situation where users were right about the future price movements and overally they are net positive.

As you can see, we have the lowest volatility for the last 2 weeks, right after the first liquidation (26.06). And once again, as you can see in the picture, we have the Tightest Bollinger bands since the start of the Year. This situation often precedes a big pump or dump. Because of this PA, we can expect big liquidations and growing OI after this PA. But for now, traders are trying to stay vigilant and calm with their trades in the current market.

Full report from glassnode - Link

For Arbitrum

For Optimism

Despite the low volatility, traders on Optimism have remained active, seeking profitable trading opportunities as reflected by the normalised OI of approximately $4 million. This level of OI indicates that traders are actively participating in the market and holding positions, anticipating future price movements. As the market continues to surprise us, we can expect even more activity and interest on Optimism markets as traders seize opportunities.

+-------------------------+---------+-------------------+
| Vault/Liquidity         | TVL     | APY               |
+-------------------------+---------+-------------------+
| stkLYRA                 |         | APY 4.67%         |
| ETH Vault (Arbitrum)    | $9.79m  | 9.67% - 19.34%    |
| WBTC Vault (Arbitrum)   | $3.66m  | 21.16% - 42.3%    |
| ETH Vault (Optimism)    | $4.68m  | 11.11% - 22.23%   |
| WBTC Vault (Optimism)   | $707k   | 10.63% - 21.27%   |
| ARB Vault (Optimism)    | $611k   | 12.19% - 24.37%   |
| OP Vault (Optimism)     | $763k   | 9.67% - 19.34%    |
| Arrakis (Ethereum)      | $918k   | 48%               |
| Camelot (Arbitrum)      | $164.5k | ?%                |
| Velodrome (Optimism)    | $40.3k  | 5.48%             |
+-------------------------+---------+-------------------+

Not a lot of News from Lyra, but we have a lot of CT activity!

• First Delegate Race

  https://twitter.com/lyrafinance/status/1678611743214555137

  • Proposal to add XRP markets

    https://twitter.com/lyrafinance/status/1679651846644985859

• Bug bounty for Lyra on Hats.Finance

  https://twitter.com/HatsFinance/status/1678142829800075264

• Big thread about Lyra’s future (Lyra team has not officially denied or confirmed this info)

  https://twitter.com/0xJohnBoyd/status/1677397257748881410

Threads and mentions:

• ThorHartvigsen about SNX ecosystem

• One of the many strategies in the Subli Quests series

• HanSolar.eth about Dedeland strats using Lyra

• WalletChain thread about Lyra

• bobdbldr about all option protocols

• Big Beginner Option Guide about Lyra and Dopex - Link to the Article

Lyra is still dominant. Optimism Newport upgrade unlocks immense potential for growth. With future zkPolygon and XRP markets on OP chain we can expect even better results.

• The Panoptic gated launch sign-up list

  https://twitter.com/Panoptic_xyz/status/1676622322298679296

  • Aevo dropped own referral system

    https://twitter.com/aevoxyz/status/1676571895351877632

• HSBC enables BTC and ETH ETF investment for customers in Hong Kong

• Indonesia labels 501 cryptocurrencies as commodities

• Japan softens tax stance on cryptocurrencies

• Near Foundation partners with Alibaba Cloud

• FTX's current management has recovered $7 billion in liquid assets

• TrueUSD’s reserves were attested by former FTX.US accounting team

• Fidelity joins the battle for Bitcoin ETF supremacy

• Nevada regulator

Thanks to Lyra’s team for supporting this content!

Welcome to the second edition of the "Lyra QMonthly Report"! We are thrilled to bring you more valuable insights and updates about Lyra, saving you the hassle of searching for alpha threads on Twitter and avoiding rate limitations (I got rate limited 9 times). Buckle your fuckles and let’s go!

Plan for today’s Report:

1. Lyra’s Stats and Opportunities for both networks

   1. Volume

   2. Fees

   3. New and Existing Traders and Trades

   4. Traders PnL

   5. OI

   6. Staking APRs

2. Lyra’s News

   1. Twitter

   2. Other sources

3. Option Market Review

4. News of the Month

We are still in the phase of the market with high volatility and high losses for users because of it. The effects of high market volatility on crypto markets have led us to increasing Volume on Arbitrum and decreasing after 3 waves of liquidations. But for Optimism it was only about increasing volume, significant shifts in trading volumes across two chains can be explained by Bedrock update and various markets on Optimism that Arbitrum can’t give.

Arbitrum VolumeAverage Monthly Volume - $66,105,040 (-2.94%)Total Cumulative Volume - $396,630,241

• February - $21,766,937

• March - $63,855,786 with +193.36% monthly growth

• April - $81,331,819 with +27.37% monthly growth

• May - $86,095,534 with +5.86% monthly growth

• June - $87,499,128 with +1.63% monthly growth

• July - $56,081,037 with -35.91% monthly drop

The first decrease in volume for Arbitrum markets is caused because of ATH in liquidations, outflow of traders to Optimism markets and low volatility after that. With new markets like the upcoming XRP listing, we can expect an equal Arbitrum Volume to what we have now.

Optimism Volume

Now we can start to compare months for Optimism markets, and we already have humongous growth in Volume!

Average Monthly Volume - $20,199,721Total Cumulative Volume - $40,399,443

• June - $13,131,163

• July - $27,268,280 with +107.66% monthly growth

We can expect a future outflow of capital from Arbitrum to Optimism because of:

• Better LPing

• Higher rewards (TVL to Volume) and better pool peroformance

• More markets

• Cheaper and faster execution of trades

For this month Volume has risen from $353,680,367 to $437,029,684. The major part of Volume still comes from the Lyra's Arbitrum network integration. The Optimism integration of the protocol is now nearly half of the Arbitrum Monthly Volume. It sits with $27,268,280 for Optimism vs $56,081,037 for Arbitrum.

Arbitrum Fees

Average Monthly Fees - $83869.6Total Cumulative Fees - $503,218

• February - $29,587

• March - $81,035 with +173.88% monthly growth

• April - $103,108 with +27.23% monthly growth

• May - $126,286 with +22.47% monthly growth

• June - $101,236 with -19.83% monthly drop

• July - $61,966 with -38.79% monthly drop

No anomalies during this month that gave a major part of all fees like we saw in May but still a decent result with a small decrese for second month in a row and this is not a good sign.

Optimism Fees

• June - $16,793

• July - $33,020 with +96.63% monthly growth

Newport Optimism integration has indeed proven to be a significant step, and its initial performance has surpassed expectations with x3 growth compared to June results. Cost-effective transactions and new markets are game changers for Lyra.

And with current traction and success Lyra achieved just the beginning of Optimism markets growth. We can expect to see approximately an additional $1,000,000 in Volume per exotic market (OP and ARB markets have ±$1m in 30d Volume)

Arbitrum Users and Trades

Average Monthly New Traders - 822.2 Average Monthly New Trades - 4666.1 Total Cumulative Traders - 4,326Total Cumulative Trades - 27,997

(Cumulative Trades/Cumulative Traders)

• February - 518 new Traders with 1,809 Total Trades (3.49 Trades per Trader (Cumulative Trades/Cumulative Traders))

• March - 1,739 new Traders with 6,182 Total Trades (3.54 Trades per Trader)

  • March - +235.71% growth for amount of Traders with +241.74%% growth in the amount of trades made

• April - 1,062 new Traders with 5,615 Total Trades (4.09 Trades per Trader)

  • April - -38.93% growth for amount of Traders with -9.17% growth in the amount of trades made

• May - 503 new Traders with 5,418 Total Trades (4.97 Trades per Trader)

  • May- -52.64% growth for amount of Traders with -3.51% growth in the amount of trades made

• June - 289 new Traders with 5,324 Total Trades (5.92 Trades per Trader)

  • June - -42.54% growth for amount of Traders with -1.73% growth in the amount of trades made

• July - 215 new Traders with 3,649 Total Trades (6.47 Trades per Trader)

  • July - -25.61% drop for amount of Traders with -31.46% drop in the amount of trades made

As you can see we can have a decrease in amount of new users from the peak trading activity in March, which was caused by quest.

Optimism Users and Trades

Average Monthly New Traders - 868.5Average Monthly New Trades - 2,173Total Cumulative Traders - 458Total Cumulative Trades - 4083

• June - 274 Traders with 1,737 Trades (6.33 Trades per Trader)

• July - 184 Traders with 2,346 Trades (8.91 Trader per Trader)

  • July - -32.85% drop for amount of Traders with +35.06% growth in the amount of trades made

The user ratio for Arbitrum to Optimism is approximately 2.5:1 for June, indicating Arbitrum's higher adoption. However, when considering trades throughout July, the ratio is 1.55:1, indicating a narrower gap and raising adoption of Optimism markets.

For Arbitrum

On June 26th, we witnessed an ATH liquidation of -$225,000. Following this ATH liquidation, the market experienced two additional waves of liquidations. On June 30th, a wave of -$47,000 liquidation occurred. A week later, on July 7th, a third wave of -$26,000 liquidation struck the Lyra’s markets.

For Optimism

For Optimism we can see a bit more optimistic situation where users were right about the future price movements and overally they are net positive.

As you can see, we have the lowest volatility for the last 2 weeks, right after the first liquidation (26.06). And once again, as you can see in the picture, we have the Tightest Bollinger bands since the start of the Year. This situation often precedes a big pump or dump. Because of this PA, we can expect big liquidations and growing OI after this PA. But for now, traders are trying to stay vigilant and calm with their trades in the current market.

Full report from glassnode - Link

For Arbitrum

For Optimism

Despite the low volatility, traders on Optimism have remained active, seeking profitable trading opportunities as reflected by the normalised OI of approximately $4 million. This level of OI indicates that traders are actively participating in the market and holding positions, anticipating future price movements. As the market continues to surprise us, we can expect even more activity and interest on Optimism markets as traders seize opportunities.

+-------------------------+---------+-------------------+
| Vault/Liquidity         | TVL     | APY               |
+-------------------------+---------+-------------------+
| stkLYRA                 |         | APY 4.67%         |
| ETH Vault (Arbitrum)    | $9.79m  | 9.67% - 19.34%    |
| WBTC Vault (Arbitrum)   | $3.66m  | 21.16% - 42.3%    |
| ETH Vault (Optimism)    | $4.68m  | 11.11% - 22.23%   |
| WBTC Vault (Optimism)   | $707k   | 10.63% - 21.27%   |
| ARB Vault (Optimism)    | $611k   | 12.19% - 24.37%   |
| OP Vault (Optimism)     | $763k   | 9.67% - 19.34%    |
| Arrakis (Ethereum)      | $918k   | 48%               |
| Camelot (Arbitrum)      | $164.5k | ?%                |
| Velodrome (Optimism)    | $40.3k  | 5.48%             |
+-------------------------+---------+-------------------+

Not a lot of News from Lyra, but we have a lot of CT activity!

• First Delegate Race

  https://twitter.com/lyrafinance/status/1678611743214555137

  • Proposal to add XRP markets

    https://twitter.com/lyrafinance/status/1679651846644985859

• Bug bounty for Lyra on Hats.Finance

  https://twitter.com/HatsFinance/status/1678142829800075264

• Big thread about Lyra’s future (Lyra team has not officially denied or confirmed this info)

  https://twitter.com/0xJohnBoyd/status/1677397257748881410

Threads and mentions:

• ThorHartvigsen about SNX ecosystem

• One of the many strategies in the Subli Quests series

• HanSolar.eth about Dedeland strats using Lyra

• WalletChain thread about Lyra

• bobdbldr about all option protocols

• Big Beginner Option Guide about Lyra and Dopex - Link to the Article

Lyra is still dominant. Optimism Newport upgrade unlocks immense potential for growth. With future zkPolygon and XRP markets on OP chain we can expect even better results.

• The Panoptic gated launch sign-up list

  https://twitter.com/Panoptic_xyz/status/1676622322298679296

  • Aevo dropped own referral system

    https://twitter.com/aevoxyz/status/1676571895351877632

• HSBC enables BTC and ETH ETF investment for customers in Hong Kong

• Indonesia labels 501 cryptocurrencies as commodities

• Japan softens tax stance on cryptocurrencies

• Near Foundation partners with Alibaba Cloud

• FTX's current management has recovered $7 billion in liquid assets

• TrueUSD’s reserves were attested by former FTX.US accounting team

• Fidelity joins the battle for Bitcoin ETF supremacy

• Nevada regulator

Thanks to Lyra’s team for supporting this content!