V2 Summary
V2 Upgrades and Enhancements
Last updated
Was this helpful?
V2 Upgrades and Enhancements
Last updated
Was this helpful?
Lybra Finance is introducing peUSD, an Omnichain DeFi utility version of eUSD. This latest addition further enriches our growing ecosystem by providing additional utility and versatility.
In this V2 update, we are diversifying the types of Liquid Staking Tokens (LSTs) that can be used as collateral. Alongside existing options, we will be accepting rETH and WBETH for eUSD and peUSD minting from the onset. This expanded offering not only broadens our user base, but also provides our users with more flexibility in their interactions with the protocol.
One of our most distinctive features in V2 is the ability to convert eUSD to peUSD without sacrificing the accruing interest on the initial eUSD. Further enhancing protocol's resilience, the amount of converted eUSD can be availed for flash loans, aiding in efficient liquidation and contributing to the stability of our protocol's fund.
Engagement and empowerment of our community remain central to our values. As such, esLBR token holders have the right to participate in the DAO protocol governance, vote on protocol directions, and even select their preferred minting pools for increased emissions.
Our innovative Bounty programs, namely the Advanced Vesting Bounty and the dLP Bounty, provide users with an opportunity to purchase esLBR at a discount using either LBR or eUSD.
To further maintain the peg of eUSD, we have established the Stability Fund. This dedicated resource ensures our stablecoin remains steady amidst the inherent volatility of the cryptocurrency market.
Lastly, in V2, we have introduced additional streams of protocol revenue. Service fees from eUSD circulation and repayment fees from peUSD debts will now be channeled to esLBR holders, further aligning the incentives of the protocol and its token holders.
