# About Siren ## What is Siren? Siren Markets is a decentralized protocol for creating, trading, and redeeming fully-collateralized options contracts for `ERC20` tokens on Ethereum. Siren Markets is focused on creating a high-quality, seamless experience for sophisticated users and requires no third-party settling mechanism or order matching to complete option settlement on chain. The goal of Siren is to provide a flexible application platform designed for sophisticated traders without sacrificing the autonomy, self-custody, and composability of DeFi. The cryptocurrency derivatives market has the potential to have trading volume in the trillions, and we are poised to capture a significant share of this nascent market looking for a flexible, fully-decentralized, user-friendly product that allows for self custody and advanced positions. ## How is Siren governed? Siren functions at the highest level via governance tokens. SI token holders use their SI to vote on or propose new ideas that can be used to improve Siren. The holders of SI decide the future of the project, including which options markets should be created, how design-, incentive- and LP-related decisions are made, and more. When public trading beings on Arbitrum mainnet, fees generated by the writing and execution of options contracts will accrue in part to the governance token holders. Before the on-chain governance voting platform is ready for SI token holders, core protocol contributors will guide critical decisions with input from the community. This mechanism of governance tokens allows those individuals who know the market best to respond directly to market demand. We think it’s important to keep governance nimble in the early days of Siren. ## Why is the team anonymous? The team will remain anonymous until control of the project is clearly in the hands of the DAO. After that being tied to a bleeding-edge financial project is less risky from a personal safety perspective for team members. ## What were your investor financing rounds? ### $1.2 MM - December 2020: Spartan Group, CMS Holdings, QCP Capital, Robert Leshner and Tarun Chitra’s Robot Ventures, Mechanism Capital, Blockfolio Founder Edward Moncada, Dialectic ### $4 MM - March 2021: 1kx, Spartan Group, CMS Holdings, Naval Ravikant, Robot Ventures, Mechanism Capital, RockawayX, Edward Moncada, WikiHow Founder Jack Herrick ![](https://3271216537-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FtFkhKJxvTcCZOm5TYu0b%2Fuploads%2Fscc92GbhIhuiJyoSNpOw%2Fimage.png?alt=media\&token=496b4ed9-52a0-4db9-bb4b-5ec2905ab969) *NOTE: This is a living document that will continue to be updated as Siren evolves. To contribute, please visit* [*Siren on GitHub*](https://github.com/sirenmarkets/core)*. Specific questions may be answered and technical guidance may also be provided from time to time in the* [*Siren Discord*](https://discord.gg/sirenxyz) *to those who are interested in building on top of the protocol.* --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.siren.xyz/faq/about-siren.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.