Stablecoin issuer Lybra Finance nears $100M TVL a month after launch

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Lybra Finance , a protocol built on Liquidity collateralized Derivatives to provide a decentralized interest-bearing Stablecoin, has seen its total value locked (TVL ) soar nearly 400% in the past two weeks, according to Defillama data. Close to $100 million as of May 26.

Launched in April, Lybra Finance uses Liquidity collateralized Derivatives to offer a decentralized interest- Stablecoin. The surge in TVL coincided with Lido’s upgrade to version two on May 15, which enabled Lido users to unstake their stETH and receive ETH. According to the Lybra document, the protocol “utilizes ETH Proof-of-stake and stETH issued by Lido Finance as its main components, with plans to support more LSD assets in the future.”

Bitweet terminal data shows that LBR, the native token of the Lybra protocol, has risen by 33.8% in the past 24 hours and 173% in the past 7 days to $2.23.


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