Earlier than the improve, Lyra’s market maker vaults (MMVs) paid swapping charges for each collateralization and hedging commerce. For instance, when a dealer buys a name choice contract on ether (ETH), Lyra’s MMVs would buy ether from a spot change, incurring a charge; as soon as the dealer’s place has closed, Lyra’s MMVs would promote again the ETH used for collateral, incurring yet one more charge.
