Lybra Finance ($LBR)
Lybra Finance is a decentralized protocol designed to bring stability to the volatile world of cryptocurrency. The protocol is built on Liquid Staking Derivatives (LSD) and initially leverages Lido Finance-issued ETH proof-of-stake and stETH as its primary components, with plans to support additional LSD assets in the future. The protocol's primary objective is to provide the cryptocurrency industry with a safer, more decentralized stablecoin, eUSD, which offers stable interest to its token holders. As a DeFi protocol, Lybra facilitates the minting of eUSD by allowing users to borrow against their deposited ETH and stETH.
The Lybra Token (LBR) is the native token that powers the Lybra Protocol. Its utility covers all core network functions, such as staking rewards, administration, minting, and liquidation. Additionaly, eUSD, is an interest-bearing, over-collateralized stablecoin that ensures safety and stability. Users can earn regular stable income by holding minted (borrowed) eUSD, which is powered by the LSD (Liquid Staking Derivatives) income generated from the deposited ETH and stETH. When users deposit ETH or stETH and mint eUSD against them, they receive a stable income in stETH of approximately 5%, which is converted to eUSD through the protocol and distributed to them. The Lybra Foundation and LybraDAO community firmly believe that a decentralized stablecoin is essential for both enterprises and individuals to fully harness the benefits of cryptocurrency.
Lybra Finance has seen significant growth, with a recent surge in Total Value Locked (TVL). It is actively traded on several exchanges, including Uniswap, KuCoin, and LBank. The project continues to evolve, with ongoing developments and updates being shared with the community. The Lybra Protocol continues to empower users to participate in the DeFi ecosystem with confidence and security, offering an interest-bearing stablecoin supported by ETH and stETH.