SIREN (SI) is a distributed and flexible protocol that allows users to trade, create, and redeem the fully-collateralized options contracts against any ERC-20 token on Ethereum. The platform aims to offer a high level of flexibility and scalability by initiating trade between options on the platform. The SIREN protocol enables DeFi users to efficiently use options to generate passive earnings streams.

Furthermore, the SIREN protocol aims to focus on creating a seamless and high-quality experience for users by eliminating the use of third-party mechanisms. The SIREN has separated the AMM (automated market-making) layer from the settlement layer. Subsequently, the separation allows modification to the design of pool administration and market-making. The AMM is part of DEXs, introduced to remove any intermediaries in the trading of assets. The AMM is like a computer program that automates the process of providing liquidity.

Its whitepaper claims that the token SI is designed to be used solely as an interoperable utility token. SI allows holders to vote on the on-chain governance proposals and further determine the future parameters/features of SIREN. Moreover, to develop a closed-loop and self-sustainable economy, all the fees collected are re-distributed in SI. The redistribution is given as an incentive to active contributors within the ecosystem. The main application for SIREN is a set of smart contracts living on the blockchain that work in coordination with external users. There are four main parts:

In December, 2020 the smart contracts were deployed. In August, 2021, the development of the codebase for SIREN (SI) started.

We update our Siren to USD currency in real-time. Get the live price of Siren on Coinbase.

The current market cap of Siren is $102.784K. A high market cap implies that the asset is highly valued by the market.

The all-time high of Siren is $0.0060. This all-time high is highest price paid for Siren since it was launched.

Over the last 24 hours, the trading volume of Siren is $131.95.

Assets that have a similar market cap to Siren include Tora Inu, Pooh Inu, Aave v3 USDC.e, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Siren is 22 million.