### What is Siren?

Siren is a decentralised options trading protocol that offers a full-featured trading experience. It is designed to allow traders to maintain custody of their cryptocurrency while engaging in options trading. The protocol supports various cryptocurrencies, enabling sophisticated trading strategies within a decentralised finance (DeFi) ecosystem.

### How does Siren work?

Siren operates on the Ethereum blockchain and utilises ERC-20 tokens for its options contracts. It employs a custom Automated Market Maker (AMM) called SirenSwap, which uses a novel combination of a constant-product bonding curve and options minting to facilitate trading. The Siren protocol includes a MarketsRegistry contract that creates and coordinates individual markets and supports tokenisation of both the long and short sides of options contracts, represented by bTokens and wTokens, respectively.

### What are the potential use cases for Siren?

Potential use cases for Siren include:

- Decentralised options trading for ERC20 tokens across different networks.
- Financial services allowing trading institutions and individual traders to hedge and manage portfolio risks.
- Investment and portfolio management with the ability for traders to execute complex options positions.
- Liquidity provision through Siren Flow, enhancing market liquidity and trading opportunities.

### What is the history of Siren?

Siren Markets was founded by an anonymous team focused on creating a decentralised protocol for options trading. Significant milestones in its history include two major financing rounds conducted in December 2020 and March 2021, raising over $5 million in total. Siren uses governance tokens to empower holders in decision-making processes. The protocol has evolved to include features like Siren Flow, which improves liquidity and trading efficiency by using stable coins as collateral for all options.

Siren

Deposits and withdrawals are not currently available for this coin.

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