Buy Lybra (LBR)
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.
Coin Contract Addresses
Related Assets
Resources
Learn More About Lybra
Frequently Asked Questions (FAQs)
What is the current price of Lybra (LBR)?
The Lybra price is $0.14084725 AUD, representing a -0.52% from the day prior.
Where is the best place to buy Lybra (LBR) in Australia?
The best place to buy Lybra (LBR) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Lybra (LBR) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Lybra (LBR)?
The trading volume of Lybra (LBR) is $1.1M AUD in the last 24hrs, representing a -0.52% from the day prior.
How can I buy Lybra (LBR)?
Lybra (LBR) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Lybra (LBR)?
The current market cap of Lybra (LBR) is $10.1M AUD.
Can I convert Lybra (LBR) to cash?
Yes - With Coinstash you can convert your Lybra (LBR) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Lybra (LBR) are there?
The current circulating supply of Lybra (LBR) is 73.3M.
Is Coinstash a safe place to buy Lybra (LBR) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Lybra (LBR) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.