LYRA
LYRA
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
The overall assessment of LYRA is heavily constrained by substantial data gaps and evidence that the protocol has rebranded and migrated. Three out of six evaluation sections (Active Development, Market and Use Case, and Team and Governance) returned scores of -1.0 due to extreme search name-collisions with unrelated entities (such as Lyra Health and Lyra Therapeutics), leaving development activity, market dynamics, and leadership unassessable from the provided records. Among assessable areas, Community Support scored 1.5/10 due to abandoned legacy channels following a February 2024 governance proposal migrating the project to Lyra Chain and rebranding to Derive. Tokenomics scored 3.0/10 reflecting utility for staking and governance, but marred by missing supply metrics and unverified staking participation. Security and Audit History scored 6.0/10 based on an authentic 2022 Halborn audit with remediated findings and no reported exploits or legal proceedings. Because the project has rebranded to Derive and migrated governance away from legacy contracts, the deprecated token rule applies.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About LYRA (LYRA)
LYRA (LYRA) is a legacy token associated with the Lyra Finance decentralized finance protocol that underwent a governance migration to Lyra Chain and a rebrand to Derive following a February 2024 governance proposal. The token has operated across multiple networks, with contract deployments on Base, Story, Arbitrum, Ethereum, and Optimism. Within the protocol's original architecture, LYRA was designed as a utility asset utilized for governance voting, security-module deposits, and incentives for traders and liquidity providers.
In terms of security history, Lyra Finance engaged cybersecurity firm Halborn for a smart contract audit conducted between May and June 2022. The audit covered static analysis, automated scanning, and manual reviews, identifying security issues—including recommendations regarding pending delta liquidity calculations for delta hedging—which the development team largely addressed. Evaluation records document no smart contract exploits, security breaches, or regulatory proceedings associated with the token.
The project faces notable operational and transparency concerns related to its migration status. Following the transition to Lyra Chain and the Derive rebrand, legacy LYRA community channels and contracts have seen declining activity and thin holder participation. In addition, critical tokenomics figures—including circulating supply, total supply, vesting allocations, emission mechanics, and quantitative staking participation metrics—are unverified in available records, and no formal security audits have been confirmed since 2022.