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Introduction to Vibranium Protocol
The Vibranium Finance is an innovative fork of Lybra Finance with the advanced multichain development to optimize users' experiences and bring stability to the volatile world of cryptocurrency. The protocol's foundation lies in LSD (Liquid Staking Derivatives), initially capitalizing on Lido Finance-issued ETH proof-of-stake and stETH. Future plans include expanding support for additional LSD assets.
At its core, Vibranium aims to furnish the cryptocurrency industry with a secure and decentralized stablecoin, vUSD, offering stable interest rewards to its token holders. Functioning as a DeFi protocol, Vibranium enables users to mint vUSD by utilizing their deposited ETH and stETH as collateral.
vUSD, an ETH-assets-over-collateralized stablecoin, ensures the requisite security and stability for conducting business with confidence. One distinguishing feature of the Vibranium Protocol is that users can earn regular stable income by holding minted (borrowed) vUSD. This income is derived from the LSD-generated earnings of the deposited ETH and stETH. Specifically, when users deposit ETH or stETH, mint vUSD against them, they receive stable income in stETH at an approximate rate of 5%. The protocol converts this income to vUSD and distributes it to the users.
The Vibranium Foundation and VibraniumDAO community firmly believe in the importance of a decentralized stablecoin for both enterprises and individuals to fully leverage the advantages of cryptocurrencies. By offering an interest-bearing stablecoin backed by ETH and stETH, the Vibranium Protocol empowers users to confidently and securely participate in the DeFi ecosystem.