### What is Lybra?

Lybra Finance is a decentralised finance (DeFi) protocol that introduces the eUSD stablecoin, aiming to bring stability to the cryptocurrency market. It utilises its native LBR token for governance purposes. The platform is built on Liquid Staking Derivatives (LSD) and offers a unique solution by providing an interest-bearing stablecoin, eUSD, which is over-collateralised and pegged to the US dollar.

### How does Lybra work?

Lybra operates by allowing users to mint eUSD through the deposition of Ethereum (ETH) or staked Ethereum (stETH) as collateral. The protocol leverages the yield obtained from stETH and LSD to generate stable interest for eUSD holders. LBR, an ERC-20 token, serves as the governance token in the Lybra Protocol, allowing holders to participate in decision-making processes. The platform incorporates mechanisms for over-collateralisation, and liquidations, utilising roles like minters, holders, liquidators, and keepers to maintain the protocol's stability and efficiency.

### What are the potential use cases for Lybra?

Lybra's primary use cases include:

- **DeFi Applications**: It provides an interest-bearing stablecoin (eUSD) and its omnichain version (peUSD), enhancing utility in DeFi transactions and lending/borrowing activities.
- **Stable Income Generation**: Users can earn consistent income by holding minted eUSD, deriving benefits from the Liquid Staking Derivatives generated by their deposits.
- **Liquidity Provision**: As part of its service, Lybra offers tools for liquidity provision through its stablecoin management.

### What is the history of Lybra?

Lybra Finance was launched in April 2023 with the goal of offering stability through Liquid Staking Derivatives. Within its first month, it achieved a Total Value Locked (TVL) of nearly $100 million. Notable milestones include the launch of its V2 testnet in June 2023 and significant TVL achievements by July 2023. The protocol has introduced various updates, such as omnichain capabilities, additional LSD asset support, and tokenomics improvements. Lybra relies heavily on partnerships, including integrations with Lido Finance and LayerZero, to bolster its platform and market presence.

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