Lybra V2 Mining Program Phase 1
The Lybra V2 Mining program will be conducted in two phases:
Phase 1
Duration:
From Sep 7 at 1:00 PM UTC to Sep 14 at 1:00 PM UTC.
Daily Base Emission:
81,927.38 esLBR
Allocation:
- Mint Pool (Mainnet): 75%
- LBR/ETH LP Pool (Mainnet): 15%
- eUSD/3CRV LP Pool (Mainnet): 5%
- peUSD/USDC LP Pool (Arbitrum): 5%
Notes:
V1’s eUSD will be eligible to receive esLBR incentives from V2. However, V1’s LPs (LBR/ETH and eUSD/USDC) will no longer receive esLBR emissions.
Weights for receiving esLBR emissions from the Mint Pool incentive:
- eUSD V1: 0.7
- eUSD V2: 1
- peUSD: 1.05
Reward Calculation Example:
(Based on a hypothetical daily emission for the overall mint pool of 1,000 esLBR)
dLP:
- To qualify for esLBR emissions from the Mint Pool, a minimum 5% threshold in locked Dynamic Liquidity relative to their loan total value must be maintained by users.
- Users falling below this threshold will be ineligible for subsequent esLBR emissions, with a bounty set equal to their ineligible earnings. This bounty is available for purchase by any user at a 50% discount, payable in either LBR or eUSD.
- Purchases made using eUSD will be added to the protocol’s Stability Fund, essential for maintaining the eUSD peg.
Visit our Docs for more information.
Boost:
Boost your esLBR emissions by up to 1.5x from all Mint pool by locking LBR or esLBR for a specific time.
Here are the rules:
- Boost calculation: (LBR or esLBR Locked) / esLBR lockable threshold * time weight.
- esLBR lockable threshold formula: your USD loan value / total USD loan value * total LBR and esLBR circulation.
- Lock periods can only be extended, not shortened. Re-locking esLBR restarts the lock period.
- Locking esLBR beyond the threshold will not increase the maximum boost.
Note:
Boost applies to the mint pool APR only and will not affect the LP pools. eUSD and peUSD minters can boost their APR on the mint pool by up to 1.5x.
Users will enjoy both boosted APR and protocol revenue while locking in Boost.Visit our Docs for more information.
Please also note that,
Mining incentives for V1 (which include the eUSD V1 mint pool, LBR/ETH V1 LP pool, and eUSD/USDC V1 LP pool) will cease on September 5 at 1:00 PM UTC.
Twitter: https://twitter.com/LybraFinance
Discord: https://discord.gg/mgyq3PhdJg
Website: https://lybra.finance/
