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Stablecoin Issuer Lybra Finance Launches Arbitrum Testnet Amid Quest to Be More DeFi-Friendly

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Stablecoin issuer LybraFinanceLSD launched its version 2 test network on Arbitrum, as the protocol aims to entice more high-frequency DeFi traders with its products. reports

Lybra Finance rolled out its v2 testnet on Arbitrum’s Goerli network Wednesday morning as the issuer of a yield-bearing stablecoin aims to entice more high-frequency traders and other decentralize finance users with its products.

Lybra’s eUSD stablecoin is designed to be worth $1 and generate income from collateralized liquid staking tokens.

The testnet rollout comes as the market capitalization of eUSD has surged 152% in the past 30 days to $198 million as investors deposit staking tokens to mint eUSD. Moreover, Lybra is nearing $400 million in total value locked, a 108% increase in July, data from

 

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