Pool

In the Lybra V2 protocol, we support using both rebase and non-rebase Lst as collateral, with each collateral type having its own vault. For non-rebase assets, since their collateral amount does not change, the protocol does not directly capture LSD earnings. The vault associated with this type of asset can mint peUSD (peg-eUSD) instead of eUSD.

On the other hand, for rebase assets such as stETH, the vault captures LSD earnings and converts them into interest in eUSD. Therefore, the vault of this type can mint eUSD, allowing borrowers to enjoy stablecoin interest rates of up to 8%+.

Our protocol is designed to support different types of collateral and provides corresponding minting and interest mechanisms based on their characteristics to meet the diverse needs and profit opportunities of users.