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.
eUSD, being an ETH-assets-over-collateralized stablecoin, offers users the security and stability necessary for conducting their business with confidence.
A distinctive feature of the Lybra Protocol is that 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. In other words, 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.
eUSD is an interest-bearing, over-collateralized stablecoin that ensures safety and stability. 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. By offering an interest-bearing stablecoin supported by ETH and stETH, the Lybra Protocol empowers users to participate in the DeFi ecosystem with confidence and security.
How to Buy LBR on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing LBR. Some reputable platforms include HTX、Bybit、Bitget, and others.
Step 2: Register an Account
Here, we'll register an account on the Bybit(registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing LBR.
Step 5: Purchase LBR
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of LBR you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy LBR.
Step 6: Store Your LBR
After purchasing, you can choose to store your LBR in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and LBR assets, be sure to use a strong password and enable two-factor authentication.
LBR Price:Lybra Finance is a decentralized protocol designed to introduce stability to the cryptocurrency market through the innovative use of liquidity staking derivatives (LSD). By leveraging assets such as ETH proof-of-stake and stETH, primarily issued by Lido Finance, it creates a more secure and decentralized stablecoin called eUSD. This stablecoin is over-collateralized with ETH assets, providing users with a stable and secure medium for transactions and savings.The price fluctuates daily, you can go to the exchange: Bybitto check the price.
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