What is Lybra finance (LBR)?

Summary: Lybra Finance is a DeFi protocol offering eUSD, an interest-bearing stablecoin minted by depositing ETH or stETH. It employs Liquid Staking Derivatives, maintaining stability with its dollar-pegged eUSD. Despite minor audit findings, the platform is largely deemed secure. Governance is handled via the Lybra (LBR) ERC-20 token.

What is the Lybra protocol?

The Lybra Protocol is a groundbreaking decentralized protocol designed to bring stability to the volatile world of cryptocurrency. Built on LSD (Liquid Staking Derivatives), the protocol 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.

How does Lybra work?

Lybra enables users to mint eUSD by depositing ETH or stETH as collateral. The minted eUSD, in return, provides a stable income to the holders.

Is Lybra finance moving to a new contract address?

Lybra Finance has migrated to new contract address from their old contract address. Check their announcement here. According to Gopluslabs the contract owner may contain mint function and has the authority to modify the balance of tokens at other addresses. Please exercise caution before taking any action and DYOR Please wait a moment.