Lybra Finance token (LBR) price is now $0.28, up more than 54% in 24 hours

Bitget2024/05/09 14:51

ChainCatcher news, according to RootData data, the price of Lybra Finance token (LBR) is currently trading at $0.28, a 24-hour increase of more than 54%.

According to Web3 asset data platform RootData, Lybra Protocol is an interest-bearing stablecoin protocol supported by LSD, aiming to bring stability to the volatile cryptocurrency world. A distinctive feature of Lybra Protocol is that users can earn regular stable income by holding minted (borrowed) eUSD, which is backed by LSD (liquidity staking derivatives) income generated from deposited ETH and stETH of. In other words, when a user deposits ETH or stETH and EUSD is minted to them, they receive a stable income of approximately 5% in stETH, which is converted to EUSD through the protocol and distributed to them.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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