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We're forecasting an #LSDSummer ☀️
Let's kick off the week with an introduction to Lybra Finance, a decentralised protocol built on LSD (Liquid Staking Derivatives).
With launch being so close on the horizon, here's the basics to get you warmed up, and brought up to speed! 🧵👇
Let's kick off the week with an introduction to Lybra Finance, a decentralised protocol built on LSD (Liquid Staking Derivatives).
With launch being so close on the horizon, here's the basics to get you warmed up, and brought up to speed! 🧵👇
1. What is Lybra Finance? ⚖️
Lybra Finance is a cutting-edge decentralised protocol that aims to transform the DeFi space by offering a secure, stable, and decentralised stablecoin, called eUSD, along with consistent interest for token holders.
Lybra Finance is a cutting-edge decentralised protocol that aims to transform the DeFi space by offering a secure, stable, and decentralised stablecoin, called eUSD, along with consistent interest for token holders.
2. Limitations of Existing Stablecoins:
Current stablecoins like USDT, USDC, and DAI provide stability but face issues such as centralisation, lack of transparency, and limited interest income.
Lybra Finance seeks to overcome these challenges.
Current stablecoins like USDT, USDC, and DAI provide stability but face issues such as centralisation, lack of transparency, and limited interest income.
Lybra Finance seeks to overcome these challenges.
3. eUSD: A Decentralised Stablecoin:
eUSD is a decentralised, interest-bearing stablecoin pegged to the US Dollar and backed by ETH collateral. Holding eUSD generates a stable income with an approximate 8% APY.
eUSD is a decentralised, interest-bearing stablecoin pegged to the US Dollar and backed by ETH collateral. Holding eUSD generates a stable income with an approximate 8% APY.
4. Lybra's Unique Approach:
Lybra Finance employs Liquid Staking Derivatives (LSD) to enable a more decentralised stablecoin. The protocol initially leverages Lido Finance's ETH proof-of-stake and stETH.
Lybra Finance employs Liquid Staking Derivatives (LSD) to enable a more decentralised stablecoin. The protocol initially leverages Lido Finance's ETH proof-of-stake and stETH.
5. Future LSD Asset Support:
Lybra Finance plans to expand it's support for additional LSD/DeFi assets in the future, broadening its ecosystem and enabling further innovation in the DeFi landscape.
Lybra Finance plans to expand it's support for additional LSD/DeFi assets in the future, broadening its ecosystem and enabling further innovation in the DeFi landscape.
6. eUSD: Combating Inflation:
eUSD's low volatility and stable interest income help mitigate inflation, offering greater freedom and opportunities for individuals worldwide while supporting financial safety and stability.
eUSD's low volatility and stable interest income help mitigate inflation, offering greater freedom and opportunities for individuals worldwide while supporting financial safety and stability.
7. Depositing ETH with Lybra:
Users can deposit ETH into the Lybra Protocol, which serves as collateral for minting/borrowing eUSD. Deposited ETH is automatically converted to stETH, enhancing security and stability.
Users can deposit ETH into the Lybra Protocol, which serves as collateral for minting/borrowing eUSD. Deposited ETH is automatically converted to stETH, enhancing security and stability.
8. EUSD Minting Process:
Lybra facilitates eUSD minting by allowing users to borrow against their deposited ETH and stETH, providing a secure and stable foundation for conducting business.
Lybra facilitates eUSD minting by allowing users to borrow against their deposited ETH and stETH, providing a secure and stable foundation for conducting business.
9. Earning Stable Income:
By holding minted eUSD, users can gain stable income derived from LSD revenue generated by deposited ETH and stETH. This revenue is then converted to eUSD and distributed accordingly.
By holding minted eUSD, users can gain stable income derived from LSD revenue generated by deposited ETH and stETH. This revenue is then converted to eUSD and distributed accordingly.
10. Introducing LBR Governance Token:
The Lybra Protocol is governed by its native token, LBR. stLBR (Staked LBR) holders participate in governance, voting, and share the protocol's revenue, empowering a decentralised community of users.
The Lybra Protocol is governed by its native token, LBR. stLBR (Staked LBR) holders participate in governance, voting, and share the protocol's revenue, empowering a decentralised community of users.
11. stETH Income Allocation:
Increased income from stETH is converted to eUSD. A portion is shared among stLBR holders, while the remaining income is distributed to eUSD holders with a base APY of approximately 8%.
Increased income from stETH is converted to eUSD. A portion is shared among stLBR holders, while the remaining income is distributed to eUSD holders with a base APY of approximately 8%.
12. Lybra Protocol's Revenue Model:
The Lybra Protocol imposes an annual service fee of 1.5% on the total eUSD in circulation. After deducting the service fee, stETH income is distributed among eUSD holders.
The Lybra Protocol imposes an annual service fee of 1.5% on the total eUSD in circulation. After deducting the service fee, stETH income is distributed among eUSD holders.
13. Real-Yield for LBR Holders:
The service fee collected by the Lybra Protocol is allocated to the LBR Staking Pool. For instance, holding 1% of stLBR in the pool entitles you to a portion of eUSD as your real yield for that year.
The service fee collected by the Lybra Protocol is allocated to the LBR Staking Pool. For instance, holding 1% of stLBR in the pool entitles you to a portion of eUSD as your real yield for that year.
14. Acquiring LBR Tokens:
Obtain LBR tokens by participating in the Lybra LBR IDO (TBC), earning rewards through eUSD minting, or becoming an eUSD/ETH liquidity provider.
Obtain LBR tokens by participating in the Lybra LBR IDO (TBC), earning rewards through eUSD minting, or becoming an eUSD/ETH liquidity provider.
15. Decentralised Governance:
Lybra Protocol is managed by the community of LBR token holders. stLBR holders participate in governance and voting, fostering a truly decentralised ecosystem.
Lybra Protocol is managed by the community of LBR token holders. stLBR holders participate in governance and voting, fostering a truly decentralised ecosystem.
17. The Beta/Testnet version of Lybra Finance is out now!
Get familiar with the protocol prior to launch! 🖥️
beta.lybra.finance
Get familiar with the protocol prior to launch! 🖥️
beta.lybra.finance
18. What next?
Tomorrow we'll cover why we feel that the market needs a new stablecoin, such as eUSD and what challenges and problems Lybra Finance looks to solve.
Tomorrow we'll cover why we feel that the market needs a new stablecoin, such as eUSD and what challenges and problems Lybra Finance looks to solve.
19. WeN lAuNcH? 🤨
Keep your eyes peeled and notifications on. This week is set to be busy. Announcements coming soon. In the meantime, be sure to join the Lybra Discord channel 👇
discord.com/invite/mgyq3Ph…
Keep your eyes peeled and notifications on. This week is set to be busy. Announcements coming soon. In the meantime, be sure to join the Lybra Discord channel 👇
discord.com/invite/mgyq3Ph…
20. Quick Links ⛓️
Be sure to check out the ongoing @zealy_io campaign for a chance to win WL spots (which grants you 10% more tokens during the IDO).
linktr.ee/lybrafinance
Be sure to check out the ongoing @zealy_io campaign for a chance to win WL spots (which grants you 10% more tokens during the IDO).
linktr.ee/lybrafinance
21. Lybra Ambassador Program 📚
The Lybra Ambassador campaign is live! Follow the link to read about the community driven initiative and show the world of DeFi your content creation skills!
lybraprotocol.notion.site/Lybra-Ambassad…
The Lybra Ambassador campaign is live! Follow the link to read about the community driven initiative and show the world of DeFi your content creation skills!
lybraprotocol.notion.site/Lybra-Ambassad…
Thats all for now folks!
See you tomorrow for the next instalment! 📷
If you got this far, have a read about what others are saying about Lybra!
See you tomorrow for the next instalment! 📷
If you got this far, have a read about what others are saying about Lybra!
https://twitter.com/Flowslikeosmo/status/1647615856346791936?s=20
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