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On-Chain Insights: Lybra Finance and Memecoins
Key Takeaways
2 min read
  • Lybra Finance has been growing rapidly, and is one of the top traded DEX token (besides stablecoins and ETH) in the past day.
  • Memecoins continue to top the Hot Contracts list, with new memecoins such as RFD, BEEP and BIAO gaining attention.

Lybra Finance

  • LBR has 8x-ed in the past 2 weeks, with its TVL increasing rapidly by over $90m in the past week.
  • Lybra Finance is a stablecoin protocol - with eUSD being hard-pegged to USD and collateralized by over 150% with ETH/stETH.
  • LBR is used for governance, and stakers of the token get a share of protocol revenue as well.
  • The protocol recently released its plan for v2 as well, which could further propel the growth of the protocol. Key changes include:
    • Expansion to Arbitrum and (soon) on Layer Zero.
    • Support for other LSD tokens to come (rETH, cbETH etc.).
    • Tokenomics upgrade
      • esLBR vesting changed to 60 days from...