Men's Weekly

.

Business Telegraph

.

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

  • Written by Telegraph Magazine
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 .

Entrepreneurs & Leaders

A Step-by-Step Guide on How to Open Company in Poland

Poland continues to be a highly attractive destination for global entrepreneurs seeking new opportunities within the E...

What Sets a Top Commercial Plasterer Contractor Apart in Melbourne’s Competitive Market

Melbourne’s commercial construction scene moves fast. Whether it is a retail space on Chapel Street, a high-rise offic...

Justice for Workplace Injuries: How to Find the Best Compensation Lawyer

Finding an experienced compensation attorney who focuses on workplace injury claims is one of the most crucial actions...

Overcoming Internal Resistance to Adopting Headless CMS

Like any technological shift in an organization, there is always internal resistance to be mitigated. Transitioning to...

Understanding Australian Electrical Compliance: Key to Workplace Safety

In Australia, workplace safety is a priority, particularly when dealing with electrical systems. Adherence to Australi...

How Mobile Mechanics in Sydney Are Transforming the Lives of Busy Professionals

In a fast-paced city like Sydney, where every hour counts, finding time for car maintenance can be a challenge. For bu...

Beyond the Marker: How Modern Whiteboards Drive Team Collaboration

Collaboration in the workplace has undergone a transformation. With the rise of hybrid work models, agile project mana...

Essential Strata Insurance Services Every Multi-Owner Building Must Get Right

When multiple parties share ownership in a property, ensuring its longevity and protection demands more than just good...

Global Content Delivery with Headless CMS and Edge Networks

As the world gets more interconnected every day, businesses with international audiences now demand rapid, consistent...