| Full Currency Name | /SI |
| Currency Code | SI |
| Coin Intro | "Siren, abbreviated as SI coin, has a total supply of 100,000,000 SI.
"Siren is a distributed protocol designed to create, trade, and redeem fully collateralized options contracts for any ERC-20 token on Ethereum. An options contract is a financial primitive from which many more complex financial tools can be built. At its core, an option gives traders the right to buy or sell an asset at a predetermined price at a known future time. This is useful for protecting oneself (also known as hedging) against potential changes in the value of an asset and for speculative trading. To handle these price fluctuations, the core protocol mechanism of Siren uses a fully collateralized approach to write options that do not require any oracles. A single MarketsRegistry contract creates and coordinates individual markets. Once a market contract is created, anyone can interact with it. The solvency of positions is always guaranteed by the collateral locked within the smart contract. Tokenization: On the buyers side (bToken), holders have the right to purchase or sell the underlying asset at a predetermined strike price. On the seller/selling side (wToken), holders can extract collateral (if the option is not exercised) or collect exercise payments (if the option is exercised) after expiration. When a trader buys a put option, the on-chain token quantity multiplies by the strike price. For example, a WBTC $20K PUT would generate 20,000 bTokens. For the same reason, a put option is just a reverse call option on the asset (e.g., a WBTC/USDC put is actually a USDC/WBTC call). By tokenizing both sides of the contract, Siren can establish secondary markets for long and short exposures. Under this design, to become a writer, you need to buy wTokens from the SirenSwap AMM (see below). Writers can also close their short positions by selling wTokens back to the AMM. This simplifies the writer mechanism, reducing it essentially to buying underlying collateral at a discount rather than the typical design where writers mint long tokens that must then be sold to realize the premium. SirenSwap AMM bootstraps liquidity, which is essential for creating thriving markets. It is well-known that options can be very difficult. The combination of strike prices and expiration dates not only fragments liquidity but also requires liquidity providers to be meticulous to ensure fair and sustainable pricing. To ensure day-one liquidity, the Siren protocol uses a customized SirenSwap AMM that combines a constant product bonding curve and novel option minting to trade bTokens and wTokens. Notably, the AMM does not require any assets other than bTokens/wTokens in the pool to trade them against the collateral asset (e.g., WBTC). This improves the capital efficiency for limited partners and provides other benefits we will delve into further in later articles. The Siren core team believes that in the early stages of Ethereum and DeFi, less is more, so they designed SirenSwap as a model-free market maker. This means it does not require complex on-chain pricing formulas or oracle feeds to function. As a result, anyone can easily become a limited partner to earn trading fees."
"Todays SI price is $0.063794, with a 24-hour trading volume that is currently unavailable. There has been no change in SI over the past 24 hours. Its market cap is currently unavailable. Its circulating supply is 22,446,100 SI, and its total supply is 100,000,000 SI." |
| Issue Date | |
| All-Time High | $3.6408102 |
| All-Time Low | $0.031744779 |
| Total Supply | 100000000 |
| Circulating Supply | 22446120.381 |
| Circulating Supply Percentage | 0.22446120381 |
| Market Cap | NaN |
| Fully Diluted Market Cap | $6.3794129e-10 |
| Mkt Cap (Float) | $ |
| Circulating Market Cap % of Global Total | |
| Listed on Exchanges | 0 |
| Official Link | https://sirenmarkets.com/ |
| Whitepaper | |
| Blockchain Explorer |
"https://ethplorer.io/address/0xd23ac27148af6a2f339bd82d0e3cff380b5093de",
"https://etherscan.io/token/0xD23Ac27148aF6A2f339BD82D0e3CFF380b5093de"
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| Telegram |
"https://t.me/sirenmarkets"
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| Github | https://github.com/sirenmarkets/sirenmarkets |
| Twitter | https://twitter.com/sirenprotocol |
| FaceBook | |
| Reddit | |
