Buy Siren (SI)
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.
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Frequently Asked Questions (FAQs)
What is the current price of Siren (SI)?
The Siren price is $0.05174875 AUD, representing a -4.24% from the day prior.
Where is the best place to buy Siren (SI) in Australia?
The best place to buy Siren (SI) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Siren (SI) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Siren (SI)?
The trading volume of Siren (SI) is $81 AUD in the last 24hrs, representing a -4.24% from the day prior.
How can I buy Siren (SI)?
Siren (SI) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Siren (SI)?
The current market cap of Siren (SI) is $1.1M AUD.
Can I convert Siren (SI) to cash?
Yes - With Coinstash you can convert your Siren (SI) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Siren (SI) are there?
The current circulating supply of Siren (SI) is 22.4M.
Is Coinstash a safe place to buy Siren (SI) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Siren (SI) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.