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+### options
+
+<br>
+
+#### thales
+
+
+
+* decentralized binary options protocol that a group of Synthetix community members spun in 2020.
+* if held until expiry, binary options have only two payoff possibilities: a predetermined amount of profit or nothing.
+* relies on Synthetix's sUSD stablecoin for minting its binary options tokens and as the platform's unit of account.
+
+<br>
+
+
+
+#### lyra
+
+* decentralized options trading protocol powered by a specialized AMM system.
+* it uses Synthetix's sUSD stablecoin as its exclusive quote asset, so traders pay for opening long positions or closing short positions with sUSD.
+* uses Synthetix as a one-stop protocol for getting long and short exposure on its markets' base assets (delta hedging).
+
+<br>
+
+