LYRA token
Overview
LYRA was the governance token of Lyra Finance, an on-chain options protocol. In 2024 Lyra rebranded to Derive, and LYRA holders migrated on a 1:1 basis to the new DRV token. In the DeFi Intel knowledge graph it is linked most strongly to Lyra Finance (now Derive).
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 1 of 1 total).
| Relation | Connected entity | Confidence |
|---|---|---|
issued_by | Lyra Finance | 90% |
More on LYRA
Frequently asked questions
Is Lyra still called Lyra?
No. The protocol rebranded to Derive in 2024 as it broadened beyond options into perpetuals, spot and structured products.
Who founded Lyra?
Lyra was founded in 2021 by Nick Forster, Michael Spain, Jake Fitzgerald and Dominic Romanowski.
Where does Lyra/Derive run?
It launched on the Optimism Layer 2 and in 2023 moved to its own app-chain built with the OP Stack.
Related reading
- Drift Protocol vs Lyra Finance (2026): Full Comparison
- dYdX vs Lyra Finance (Derive) 2026: Full Comparison
- Hyperliquid vs Lyra (Derive) (2026): Which Derivatives Protocol Wins?
- Synthetix vs Lyra Finance (2026): Full Comparison
Sources
Facts on this page were verified against the following sources.