Auzzi Shopping

BingX, First CEX to Launch LSD Token Lybra Finance LBR USDT Spot Trading Pair

  • Written by Auzzi Shopping
SINGAPORE - Media OutReach - 31 May 2023 - BingX, a leading centralised cryptocurrency platform, is thrilled to announce the release of the LBR USDT spot trading pair on its platform.
This new addition offers users the opportunity to engage in trading with the Lybra Finance ecosystem.

Lybra Finance is a groundbreaking decentralized finance (DeFi) protocol that follow the trend of Liquid Staking Derivatives after the launch of ETH Shanghai update. Lybra empowers users to leverage their ETH USDT or stETH holdings to generate stable eUSD stablecoins. By following a simple three-step process, users can deposit collateral, mint eUSD, and then choose to either receive interest or utilize the stablecoins within other DeFi protocols.

One of the key advantages of eUSD is its stability and safety. The value of eUSD remains close to its 1 USD peg, thanks to a combination of overcollateralization, liquidation mechanisms, and arbitrage opportunities. Additionally, holders of eUSD can expect to earn an attractive base annual percentage yield (APY) of approximately 7.2%, making it an appealing option for investors seeking a steady income stream while maintaining exposure to the cryptocurrency market. As the price of ETH rises, the yield generated by eUSD holders may also increase.

At the heart of Lybra Finance's governance and decision-making process lies the Lybra DAO. The DAO is governed by LBR token holders, who possess the power to influence the project's direction, propose and vote on various decisions, and collectively manage the protocol. This community-driven approach ensures that Lybra Finance remains true to its decentralized nature and aligns with the interests of its users.

BingX aims to further enhance its offerings and provide users with diversified opportunities within the DeFi landscape. The LBR coin spot trading pair is an exciting addition to BingX's growing range of trading options, solidifying its position as a comprehensive platform for crypto enthusiasts.

BingX continues to prioritize security, user experience, and market-leading features, ensuring a seamless trading experience for all participants.

Hashtag: #bingx #cryptoexchange

The issuer is solely responsible for the content of this announcement.

About BingX

Founded in 2018, BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Additionally, BingX has launched BingX QA , an engine for new project analysis like .

Today's Features at Auzzi

Bathroom Renovations in Bentleigh: Transform Your Space with Style and Functionality

Bathrooms are the centre of the home, the most trafficked area, and determine property value. Every day the trends of the buildings are changing in Bentleigh. People are opting every day t...

Why You Should Hire a Local Moving Company for a Smooth Move

Moving to another state is exciting but it can also be stressful. You have to pack, organise and transport all your stuff safely. Without the right help, it can quickly become overwhelming...

From Baseball Caps to Beanies: The Best Promotional Headwear in Australia

Promotional headwear is a versatile and effective way for Australian businesses to boost brand visibility. From classic baseball caps to trendy beanies, headwear items can be customised to...

Breaking the Cycle: Holistic Approaches to Managing Mental Health Challenges

Many people today are reeling from stress and exhaustion in their day-to-day lives. They are either sad, scared, or worried about their present and the future. These people may experience ...

What is a Pulse Oximeter and How Does it Work?

The pulse oximeter has almost become a household name. It rose to the limelight back in 2020 during the peak of the COVID-19 pandemic. People were buying them for at-home monitoring to ke...

Discovering Australian-inspired wall art

In the world of interior design, wall art has always played a pivotal role in setting the tone of a space. Australian-inspired wall art, in particular, has gained traction for its unique a...

Stamp Duty Valuations for Commercial Properties

Stamp duty valuations play a highly significant role in commercial real estate transactions. Such judgments made through stamp duty valuations determine the amount of stamp duty that nee...