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LDX integrates options trading with Ethena
Partnership provides users with upside ethereum exposure, participation incentives
The Asset 10 Jul 2024

Lyra Derivatives Network (LDX), a real yield decentralized finance (DeFi) protocol, has partnered with DeFi protocol Ethena to integrate its options trading into Ethena’s basis trade strategies, by which users can restake their $sUSDe in LDX’s $sUSDe-Bull Vault and potentially increase their yield by up to 2.5 times.

The partnership leverages LDX’s expertise in options, the companies say, to provide Ethena users with upside exposure to ethereum with their weekly yield and point incentives for their participation. LDX, it says, is the first infrastructure for real yield on top of restaking, trading and farming.

Ethena is a synthetic dollar protocol built on ethereum that provides a crypto-native solution for money not reliant on traditional banking system infrastructure, alongside a globally accessible dollar denominated instrument – the ‘Internet Bond’.

LDX founder, Nick Forster, shares that the product was a result of market demand. “As the market trends sideways and the search for real yield intensifies, we’ve adapted by launching a product that meets these needs,” he adds. “There’s significant hype around points and yield, and our product ensures that users can gain real yield on top and maintain long exposure to the market. This creates a sticky user base and offers substantial upside potential.”

Ethena founder Guy Young adds: “Building new structured products upon yield-bearing collateral is one of the key unlocks we are most excited about at Ethena to drive real-yields in the next phase of maturation in DeFi. Cross-protocol integrations like this highlight the powerful impact of composibility within DeFi.”

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