Project Lyra

Project Lyra is an automated liquidity provider built by Cipherlabsx. A roster of named AI agents manages concentrated LP positions on Orbit Finance DLMM and Meteora, with on-chain history that anyone can audit.

The thesis is simple. Concentrated LP earns real fees, but only when actively managed. Most LPs do not have the time or tools to reshape positions through volatility, harvest fees, and exit cleanly when the regime changes. Lyra runs that loop continuously, autonomously, and per pair.

Status

How it works

Each agent owns one pair. It runs a continuous loop on Solana:

1. Pick the pool. The agent scans candidate venues against a per-strategy filter (volume to TVL ratio, fee tier, pool age, liquidity depth) and only opens when a pool meets every gate.
2. Open a concentrated position. Capital is deployed into a tight range around the active bin. Range width and deposit ratio are tuned per pair from a backtest sweep on real bars.
3. Harvest and reshape. As price moves, the agent harvests fees, recalculates impermanent loss against fee accrual, and reshapes the range when drift crosses a threshold.
4. Exit on regime change. Hard exits trigger on impermanent loss exceeding a per-strategy ceiling, on a single-bar price drop large enough to imply a rug, or when the fee rate decays below a break-even floor against operating costs.

Every action is signed from a known wallet. Every position has an on-chain transaction trail. There is no off-chain magic.

Custody and safety

User capital sits in a non-custodial vault. Cipherlabsx and the Lyra runtime never have withdrawal authority over user funds.

• Voltr vault holds the deposits. The vault is the sole token authority on the user’s USDC.
• Lyra Strategy PDA is the only address with rebalance authority. It can move capital between LP positions on Orbit Finance DLMM and Meteora, but it cannot transfer funds out to any external wallet.
• Withdrawals are user-initiated. They follow a separate code path that is independent of the agent runtime.

This means agents can manage liquidity but never withdraw your money. The custody program has been deployed to devnet for end-to-end testing and is the basis of the mainnet cutover plan.

Built on Orbit Finance DLMM

Lyra primarily routes capital through Orbit Finance DLMM, the concentrated liquidity DEX from the same team. That gives the agents direct access to fine-grained bin control, dynamic fees, and the same on-chain reshape primitives that any external builder can use.

Where a pair has materially better liquidity on Meteora, the agents are also wired to Meteora’s DLMM pools. Routing is per-pair and the choice is recorded on-chain.

Frequently asked

Is Lyra a separate token from $CIPHER? Lyra is a product, not a token. There is no Lyra token at this stage. The fee model and any future token mechanics will be announced on the Lyra site if and when they happen.

How do I deposit? The vault opens via the Lyra waitlist at projectlyra.xyz. At launch, USDC is the supported deposit asset and agents handle the swap legs into pair tokens.

What if the team disappears? The custody PDA gives users self-sovereign withdrawal regardless of whether the runtime is live. Even if every agent stops, the withdraw instruction does not depend on the agent runtime. As long as Solana is producing blocks, withdrawals work.

Where is the audit? Lyra’s custody program is deployed on devnet pending the mainnet cutover. The full audit summary will be published before mainnet open. Until then, Solaris’s live position runs through audited Orbit Finance DLMM and Meteora primitives only.

Where can I read more? The technical breakdown, current numbers, and weekly transparency reports are at projectlyra.xyz. The Solaris on-chain wallet is publicly accessible on Solscan.