Siren Markets is a decentralized protocol for creating, trading, and redeeming fully-collateralized options contracts for ERC20 tokens on Ethereum. Siren Markets (‘SIREN’) is focused on creating a high-quality, seamless experience for sophisticated users and requires no third-party settling mechanism or order matching to complete option settlement on chain. The goal of SIREN is to provide a flexible TradFi-like application platform designed for sophisticated traders without sacrificing the autonomy, self-custody, and composability of DeFi.
The cryptocurrency derivatives market has the potential to have trading volume in the trillions, and we are poised to capture a significant share of this nascent market looking for a flexible, fully-decentralized, user-friendly product that allows for self custody and advanced positions. SIREN is building a fully-tradable options ecosystem that can be handled as easily as a standard ERC-20.
Decentralized options trading is like a raging ocean. Few land dwellers are aware of the vast opportunities hidden below. Far beneath the surface in the great ocean trenches, where the light is blue and dim, merfolk tend Solidity contracts that power the SIREN Markets. Let the land dwellers know the coast is no longer the border between our realms. A new age of empire has begun.
Since the alpha release of SIREN Markets in December 2020, our team has been working furiously to streamline the cryptocurrency options experience for humans. Yet beware, only the bravest of your kind should continue. Let it be heard from the depths: WE MERFOLK INVITE YOU TO EXPLORE OUR OCEANS.
SIREN functions at the highest level via governance tokens. SI token holders will be able to use their SI to vote on or propose new ideas that can be used to improve SIREN Markets. The holders of SI will decide the future of the project, including which options markets should be created, how design-, incentive- and LP-related decisions are made, and more. When transaction fees will have been turned on, the fees generated by the writing and execution of options contracts will accrue directly back to the governance token holders.
Before the on-chain governance voting platform is ready for SI token holders, core protocol contributors will guide critical decisions with input from the community. This mechanism of governance tokens allows those individuals who know the market best to respond directly to market demand. We think it’s important to keep governance nimble in the early days of SIREN.
The team will remain anonymous until control of the project is clearly in the hands of the DAO. After that being tied to a bleeding-edge financial project is less risky from a personal safety perspective for team members.
Spartan Group CMS Holdings QCP Capital Robert Leshner and Tarun Chitra’s Robot Ventures Mechanism Capital Blockfolio Founder Edward Moncada Dialectic
1kx Spartan Group CMS Holdings Naval Ravikant Robot Ventures Mechanism Capital Rockaway Blockchain Fund Edward Moncada WikiHow Founder Jack Herrick Santiago R. Santos from ParaFi Capital
NOTE: This is a living document that will continue to be updated as SIREN evolves. To contribute, please visit SIREN on GitHub. Specific questions may be answered and technical guidance may also be provided from time to time in the SIREN Discord to those who are interested in building on top of the protocol.