Grand Network

Strands Technologies, Ltd., a Global Fintech, receives 56,000 OP from Lyra and the Optimism Foundation

Independent software vendor (ISV) Strands is a commercial solution that strands together on-chain and traditional markets to power the future of fintech.

Chicago, United States, 11th Jul 2024 – Strands, a global Fintech using a proprietary ecosystem of novel smart contracts and transactional gateways to develop the most advanced traditional and decentralized institutional tools ever brought to market has announced it is set to receive a total of 56,000 OP tokens – worth approximately $85,000 at current prices – from several grants awarded by Lyra and a direct grant awarded by the Optimism Foundation to support the development and integration of the Strands platform and drive trading volume to Optimism endpoints such as Lyra.

Optimism is a Collective of companies, communities, and citizens working together to reward public goods and build a sustainable future for Ethereum. The OP Mainnet -now evolving to the Superchain is a Layer 2 network that operates on top of Ethereum’s architecture, acting as a minimal extension of the main Ethereum layer. It allows developers and crypto users to enjoy quick transactions at low fees while maintaining the security of Ethereum’s architecture. “Strands is building a unique set of tools that currently do not exist on-chain. The Builders grant awarded to Strands will fund the development and accelerate the integration of OP specific endpoints and OP specific features that will add enormous value to the Optimism Ecosystem”, said the Optimism Grant Council Reviewer.

Lyra is a decentralized options and perpetuals exchange for cryptocurrencies like ETH and BTC on the OP Superchain that allows traders to buy and sell options that are accurately priced with the first market based, skew adjusted pricing model. When trading on Lyra, you have access to key features such as cross-margin, cross-asset collateral, and portfolio margin. “We are thrilled to support this grant to accelerate Strands integration timelines. Strands’ advanced trading capabilities will attract a broader user base and increase transaction volumes by significantly expanding access to Lyra and further driving growth to the overall ecosystem”, said Nick Forster, Founder at Lyra.

These grants have allowed Strands to add two additional full-time developers to its team of talented engineers that are building new transactional gateways on OP Network endpoints. Strands would like to thank Lyra and the Optimism grant council for their support of our vision to keep changing the future of fintech, one strand at a time.

About Strands Technologies

Strands is a Fintech company, backed by a world-class team of professionals with extensive experience in developing ultra-low latency proprietary trading tools. The firm’s mission is to Power the Future of Fintech by using its proprietary ecosystem of novel smart contracts and transactional gateways to develop the most advanced traditional and decentralized institutional tools.  For more information on Strands products, join the Strands community on Discord.

Media Contact

Organization: Strands Technolgies Ltd.

Contact Person: Bella Florio


Email: Send Email

City: Chicago

Country: United States

Release Id: 11072414068