Siren Markets (SIREN) aims to provide a seamless experience for sophisticated users to purchase, trade, and redeem options on-chain without the need for a third-party mechanism or order matching. SIREN allows DeFi users to utilize options for hedging, speculation, and generating passive income streams.

SIREN stands out in the market through various innovative implementations. It has tokenized both sides of an option contract using Bilateral Tokenization, making elements of an options ecosystem tradable like a standard ERC-1155 token.

In addition, SIREN has separated the automated market making (AMM) layer from the settlement layer, enabling continuous modification to market making, pool administration, and pricing as the SIREN platform's trading volume and liquidity grow. This approach allows for a strategy that can adapt and evolve as the protocol expands beyond its initial limitations.

Token & Governance

SIREN operates through governance tokens. SI token holders can use their SI tokens to vote on or propose ideas for improving SIREN Markets. These token holders determine the project's future, including the creation of options markets, decision-making processes related to design, incentives, liquidity provision, and more. Once transaction fees are activated, fees generated from options contracts will be directly distributed to governance token holders.

While the on-chain governance voting platform is being developed for SI token holders, critical decisions will be guided by core protocol contributors with input from the community. This governance token mechanism allows market experts to respond directly to market demand and ensures nimble governance in the early stages of SIREN.