Get ready for the public launch of the Libre token!
What is Libre?
Libre is a new blockchain focused on maximum usability and making Bitcoin and Tether extremely fast, programmable, and easy to use.
Libre features simple usernames, user interfaces, and inter-chain connectivity to make Bitcoin and Tether accessible anywhere.
A completely decentralized blockchain without a central point of failure with nodes worldwide combining technologies built by a collective of developers and Bitcoin enthusiasts from the USA, Italy, UK, Costa Rica, Argentina, Georgia, Lithuania, and Serbia.
Libre is the blockchain for freedom
Free to Transact
Libre has no transaction fees. Wallets are non-custodial and work anywhere in the world. Transactions are almost instant and irreversible, and it was built to interact seamlessly with Lightning, Bitcoin, Ethereum, and other chains.
Free to Build
Libre is the easiest blockchain to build — accounts are free, and you don’t need to purchase tokens to use it. The speed, reliability, and cost of transactions are equal to the utility that people around the world have previously only been able to enjoy when using centralized applications.
Anyone can build applications that leverage Bitcoin, Tether, and other tokens on the Libre chain. Apps can be built in any language that compiles to WASM, including C, C++, Python, Go, Rust, Java, Javascript, and PHP.
Free to Earn
Libre uses gamification and promotes rewards through an on-chain referral system to encourage user growth and adoption. Libre accounts can stake their LIBRE to earn even more LIBRE rewards.
Free to Self-Govern
Libre chain uses the LIBRE token for governance — electing validators and voting in the LIBRE DAO.
There are no LIBRE tokens allocated to teams, investors or funds. Token distribution will begin with an airdrop and block mining rewards paid to elected validators. Libre holders can engage in governance through the DAO and the validator elections.
The Mint Rush
On November 15, 2022, the launch of the LIBRE token, called “Mint Rush”, will start.
This could be a unique opportunity to acquire the token as it will be a fair launch with 200 million governance tokens distributed to anyone who contributes to BTC during the Mint Rush period.
- 100% of the BTC raised will go into an AMM liquidity pool along with 200 million LIBRE tokens owned by the Mint Rush contributors, thus generating even more rewards and incentives for users.
Why enter as early as possible?
You will choose the amount of BTC you want to contribute and the days you want to keep your LIBRE tokens at stake for up to 4 years. The sooner you contribute, the bigger the bonus you will receive on your starting stake.
At the end of the Mint Rush, the tokens will be distributed and enter an AMM liquidity pool. The sooner you contribute, the higher your staking multiplier will be.
How will I redeem my tokens?
In exchange for contributing to the Mint Rush, each account will have an equity share of the tokens in the liquidity pool. These tokens will be distributed daily for 365 days using a smart contract.
- The maximum APY is 400% for a stake of 365 days.
- 286% for participation of 180 days.
- 208% for participation of 90 days.
- 128% for participation of 30 days.
IMPORTANT: If you only contribute to the Mint Rush on the 30th, the maximum APY will be half, that is, 200% for a 365-day participation and so on, according to the number of days you choose to stake.
You can find the formula for calculating the Mint Rush APY bonus here.
How can I participate?
To participate in Mint Rush, users need to send PBTC (Bitcoin integrated with Libre via Lightning and PNetwork) using the PNetwork Bitcoin Bridge to a smart contract, and a fixed amount of LIBRE tokens will be distributed proportionally to all participants.
This whole process seems very complicated, but it’s very simple, so we’ve made an intuitive step-by-step for you with the easiest way to participate.
Easiest Way: Using the Bitcoin Libre mobile app
For this step by step, we will use the easiest way for you to acquire your Libre tokens in the Mint Rush. However, there are several methods for you to get ready, and you can also use the Anchor Wallet or any of the wallets listed here.
Start by accessing the website and downloading your Libre Wallet via the App Store or Google Pay to create your Libre wallet in seconds and free of charge!
Open the app and click on “Create a New Wallet.”
Enter a name that will be your handle. In this case, we’ll use “test user.”
That’s it. You can now buy, receive, swap tokens, participate in the referral system and, most importantly, connect your wallet with Libre’s Dashboard and participate in the Mint Rush.
To do this, we will now access the Dashboard and click on “Connect Wallet” at the top right.
Now open the Libre Wallet application on your cell phone, go to “Scan” and scan the code shown on the Dashboard with your phone to connect your wallet.
That’s it. All you need now is to add BTC to your account, and to do that, you’ll need to go to the Wallet tab on the Dashboard or the Home tab in your Libre Wallet app, select the PBTC token and click on “Receive.”
Use the shown BTC address, QR code, or Lightning to send bitcoin to your Wallet.
Note: During this process, since the BTC is not yet on the Libre blockchain, this transaction will not be instantaneous and may take up to 30 minutes to happen. Just wait.
With the BTC in your wallet, you are finally ready and just need to wait for the Mint Rush date to be able to participate and get your Libre tokens.
Referral System during the Mint Rush
Your gains won’t stop there! For this launch, there will be a unique referral system.
Referring someone to the Mint Rush using your referral link (https://app.libre.org/yourusername) is another way to get involved too! When you refer someone and they earn stake rewards, you will earn a 10% bonus.
For example, if you refer someone and they contribute $1,000 to Mint Rush on their first day and stake for 1 year, if they claim $4,000 — you will earn $300 (10% of the $3,000 bonus they accumulated).
The referral system is fully on-chain and does not represent a financial pyramid, as there are no additional earnings beyond the indicated main referral account.
If you want to know more about the Mint Rush, go to http://www.libre.org/mint-rush.
