Siren Flow: Revolutionizing On-Chain Options Trading
We’re excited to share that Siren has successfully integrated the feedback received from Siren Flow testnet and will soon be launching the Siren Flow private mainnet!
Since the launch of Siren Flow testnet on Arbitrum on April 11th, earlier this year, we’ve made continuous updates to the product using the feedback of our amazing community.
Read below for more info on the development of Siren Flow mainnet, the sunset plan for Testnet, and how to apply for access to the private mainnet launch. Our team is dedicated to building out Siren Flow, and keeping our community informed is essential in building a strong and transparent relationship with our users. We’re so pleased to continue sharing our progress with you.
Summary:
- Progress in the development of Siren Flow, including contracts, front-end development, and research.
- The Siren Flow Testnet will sunset on Friday, August 11.
- Private mainnet launching soon — learn how to apply for access.
Siren Flow Developments
In March of 2021 Siren emerged as one of the first protocols dedicated to making on-chain options trading a reality. And in March of 2023, we introduced the market to Siren Flow, an ambitious upgrade to our protocol, designed to redefine the standards of crypto options trading.
As we draw closer to the sunset of our testnet phase and make way for the dawn of the private mainnet launch, we are thrilled to share an update on the significant progress we’ve made over the last few months. During the testnet period, our team has been diligently working, refining Siren Flow, using invaluable feedback from our community and pioneering new features. Among our accomplishments, we’re proud to highlight:
Finalization of Smart Contracts: We have finalized the development of smart contracts for portfolio margin, options spreads, and hedging. This essential step brings us closer to making advanced options trading strategies accessible directly on-chain.
Completion of Fully-featured Front-end: Our team has completed a comprehensive upgrade of our trading interface, portfolio management system, and more. With features such as multi-leg trades, trading, margin management, and liquidity provisioning, Siren Flow delivers an intuitive and user-friendly trading experience unparalleled by any on-chain options product today.
Creation of Backtest Models: On the research front, we’ve successfully built a model that allows for backtesting of pool pricing and hedging for ETH, expanding the robustness of our offering. Work is also underway to incorporate other underlying assets into our innovative model.
Siren Flow will also offer an expert mode for users who are more experienced with trading options. This mode will have a user interface and experience similar to traditional equity option platforms.
Sunsetting of the Testnet
A huge thank you to the entire Siren community for all your participation in the Siren Flow Testnet! Our testnet processed a cumulative trading volume in excess of 3.5 billion, with over 1,500 traders and more than ten thousand trades. Throughout the testnet we have consistently reworked and built upon our platform using the feedback received from the Siren community. With the improvements made during testnet, we are confident in our ability to release the Siren Flow private mainnet. Now that we have completed our development process, the current Siren Flow Testnet will be sunset on Friday, August 11th.
Please note that all user trades and leaderboard activity will be archived for future reference.
Following the public mainnet launch, we plan on reintroducing a more robust and fully-featured version of the testnet. This will allow users to gain experience and learn how to trade options without risking any money.
Siren Flow Private Mainnet
As we transition into the next phase of our project, we’re preparing to launch a version of Siren Flow on a private mainnet. This controlled roll-out serves a dual purpose: first, to garner detailed user feedback from power users of options; and second, to implement this invaluable feedback, perfecting the protocol. Upon completion, we will submit the final code for rigorous auditing to ensure optimal security and reliability for all our users.
Simultaneously, our team has been holding business development and user research calls with traders and market makers. The overwhelming positive feedback and keen interest in participating in the private mainnet have bolstered our dedication to delivering a superior on-chain options trading platform.
What’s Next for Siren Flow
The journey from the introduction of Siren Flow on testnet to our current preparation for the private mainnet has been exhilarating. Your unwavering support and insightful feedback have fueled our progress, and we’re incredibly excited for what lies ahead. As we continue on this path of revolutionizing on-chain options trading, stay tuned for more updates in this new chapter of Siren’s journey.
If you feel that you would be able to provide valuable feedback or want to help shape the future of on-chain options trading, apply for our private mainnet here.
