Hi Guys! I look forward to connecting today and learning more about the Libra Project! Can you tell us more about the creation of Libra and the problem you raised?
We started the Libra project towards the end of 2021. Both myself and Josh noticed a strong gap between experienced and inexperienced crypto users, especially in the defibrillation space. After spending some time in the crypto room, seeing my share of carpet pulls, and constantly answering questions from friends and family on how to get started with crypto, it made sense to create an ecosystem that could attract new users without the crypto-steep learning curve Curve and without the risk of losing your investment.
Could you please give us an overview of the most important things about Libra?
Libra Swap is perhaps the most important aspect in our ecosystem. This is because it powers the whole project. In addition to rewarding liquidity providers, the transaction fees that come from our swap also fund our treasury wallet and charity wallet. Our wallet will ultimately support our stable coin: USDL. Our charity wallet enables us to pursue our goal of giving back to the global community through ongoing charitable donations.
In addition to our swap, our farming protocol allows users to add liquidity pairs and generate passive income. Because the treaty includes a unique combustion mechanism, we can reward farmers while preventing the mass inflation that sometimes comes with farming protocols.
Another of our most unique features to be released in the third quarter is USDL, our stable coin. USDL can only be managed by scale owners. Owners can deposit scales in our farm vaults and passively earn USDL. USDL is pegged to the US dollar and backed by the value of assets in the treasury, and USDL is never minted more than can be secured. Ultimately, USDL enables owners to purchase real world goods through our retail partnerships.
How will Libra affect the crypto space or the world in 2021 and beyond?
Especially in crypto, we want to have everything from a single source that has to do with defi. The Defi area has unlocked so much potential for the everyday investor and we believe it should be easily accessible, inclusive and transparent for everyone. Our goal is to educate the Libra at every turn and to give something back to it. Outside of the Libra community, we also see it as our responsibility to give something back to the causes and organizations in which we ourselves and the community believe. This is why we created our charity that will be a driving force in our efforts to make the world a better place through crypto.
Can you tell us now about your successes so far and about the history of Libra? Please tell us what you are most proud of.
Although we are a young company, we have reached some important milestones in our short time. We were able to complete a private starting round in which we raised around 100,000 US dollars. Since then, our community has grown through both Telegram and Twitter, and interest in our project from other blockchain companies and our community has grown significantly.
Now give us a brief overview of the future of the project. What new things would you like to bring to life and what does that mean for Libra?
Our roadmap for Libra is full. After we launched our Swap and Farms this quarter, we will open our stable coin farm in the third quarter. In addition to the above features, we will be launching our commission-free NFT marketplace (for scale owners). Our final launch in 2021 will be our Launchpad, which will allow all Libra owners to participate in tasks for projects that will be reviewed, reviewed and reviewed by the Libra team. By 2022, our goal is to expand our market and retail partnerships so USDL can buy everything from flights to electronics to a cup of coffee.
Tell us about your team. Who are the people behind the screens?
Currently we are led by myself (Julian Vasil), Josh Davis and Ray Ouyang. All three of us have extensive experience in the field of crypto and blockchain. In addition, Josh and I have experience in business development and software / fintech and have been part of numerous successful startups in the past. Our lead developer Ray is a talented blockchain developer with extensive experience in the field who has been part of many successful development teams.
What partnerships has Libra entered into so far and which are the most effective?
We can skip this question as we have not signed any formal partnerships. We have a lot in the works, from NGOs to e-gaming companies to blockchain projects, but we haven’t officially announced anything.
On the technical side, what are the token metrics for the LP token and how do they lead to a stable and balanced system?
The Libra token has a maximum offering of 100 million, of which approximately 11 million will be in circulation at launch. Over 80% of the total token supply goes straight back into our community, both in the form of agricultural rewards and community-based incentives. We have also introduced weekly incineration where 30% of all minted rewards are sent to the incineration address and 5% of all rewards in operations outside the scale are also incinerated. In addition to the weekly burns, we will continue to add aspects to our ecosystem that will reward Libra owners and make Libra token price less volatile.
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