Lemma is a decentralized finance (DeFi) protocol with two products: a "leveraged" basis trading vault and USDL, a stablecoin that is fully decentralized, 100% capital efficient and USD-pegged. Lemma uses a market-neutral derivatives position to issue a stablecoin and generate a sustainable yield. It will issue LEMMA tokens to manage governance for the stablecoin. Holders will be able to set risk parameters, prioritize the roadmap, and propose new features, among other things.