1 year ago
Lybra Finance rolled retired its v2 testnet connected Arbitrum’s Goerli web Wednesday greeting arsenic the issuer of a yield-bearing stablecoin aims to entice much high-frequency traders and different decentralize concern (DeFi) users with its products.
Lybra’s eUSD stablecoin is designed to beryllium worthy $1 and make income from collateralized liquid staking tokens. With the v2 upgrade, users tin usage RocketPool, Binance and Swell’s liquid staking tokens arsenic collateral to make eUSD, per a blog post, and the revision besides introduces a companion stablecoin called peUSD.
Users tin person eUSD to peUSD, which aims to beryllium friendlier for high-frequency traders – a word that describes a wide scope of automated trading firms, including marketplace makers and different captious liquidity providers – that usage decentralized concern protocols, said 0xP, Lybra’s pseudonymous caput of commercialized partnerships.
The testnet rollout comes arsenic the marketplace capitalization of eUSD has surged 152% successful the past 30 days to $198 cardinal arsenic investors deposit staking tokens to mint eUSD. Moreover, Lybra is nearing $400 cardinal successful full worth locked, a 108% summation successful July, information from DefiLlama shows.
LBR, Lybra’s governance token that has much than 3,000 unsocial holders per Nansen, has accrued 4.6% successful the past 24 hours to $1.97.
Edited by Nick Baker and Danny Nelson.
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