What is Lybra Finance (LBR)?
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🟢 The simple version
Plain English — no jargon. Start here.
Lybra Finance lets you deposit stETH (Lido staked ETH) as collateral to mint eUSD — a dollar stablecoin that automatically earns ~5-8% APY from the underlying stETH staking yield, so simply holding eUSD earns you interest without any additional action.
Interest-bearing stablecoin from ETH staking
The innovation: stETH earns ETH staking rewards (~3-5% APY). Lybra uses this yield to continuously rebase eUSD holders' balances upward. If you hold 1,000 eUSD, it grows to 1,050 eUSD over a year from staking yield — no staking, no clicking, no extra steps. LBR is Lybra's governance token. Lybra v2 added peUSD (a cross-chain version of eUSD). Is LBR legal in India? Yes. 30% tax, 1% TDS apply.
🟡 A bit more detail
For when you want to go a little deeper.
eUSD vs OUSD vs USDe
eUSD (Lybra): ETH staking yield from stETH collateral (~5-8% APY). OUSD (Origin): multi-source DeFi yield (Aave/Compound/Curve). USDe (Ethena): ETH basis/funding rate (higher ceiling, market-dependent). eUSD is the purest expression of ETH consensus yield in stablecoin form.
🟣 The full technical picture
For the technically curious.
Key facts
- Token: LBR (governance)
- eUSD: Rebasing stablecoin from stETH yield
- v2: peUSD (cross-chain eUSD)
- Yield: ~5-8% APY from ETH staking