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Hey guys! Happy to connect today and learn more about the Libra project! Can you tell us more about the founding of the Libra and what the problem is that you were addressing?
We started on the Libra project toward the end of 2021. Both myself and Josh noticed a glaring disconnect between experienced and inexperienced crypto users, specifically in the Defi space. After being in the crypto space for quite some time, and seeing my fair share of rug pulls, and constantly answering questions from friends and family about how to get started in crypto, it made sense to create an ecosystem that could onboard new users without the steep learning curve, and without the threat of losing your investment.
Could you please give us a rundown of the most important things about the Libra?
Libra Swap is perhaps the most important aspect that exists within our ecosystem. This is because it powers the entire project. In addition to rewarding liquidity providers, the transaction fees that come from our swap also fund our treasury wallet and our charity wallet. Our treasury wallet is what will eventually back our stable coin: USDL. Our charity wallet is allows us to continue to pursue our goal of giving back to the global community at large through ongoing charitable donations.
In addition to our swap, our farming protocol will allow users to add liquidity pairs and earn a passive income. Because we have a unique burning mechanism implemented in the contract, we will be able to reward farmers while also preventing the mass inflation that sometimes comes with farming protocols.
Another one of our most unique features that will be releasing in Q3 is USDL, which is our stable coin. USDL will only be able to be farmed by Libra holders. Holders can deposit Libra into our farming vaults and earn USDL passively. USDL is pegged to the US dollar and backed by the value of the assets in the treasury wallet, and there will never be more USDL minted than can be backed. Eventually, holders of USDL will be able to use it to purchase real world goods through our retail partnerships.
So, going forth into 2021 and beyond, how will Libra make an impact in the crypto space, or on the world?
In crypto specifically, we want to be a one stop shop for all things Defi. The Defi space has unlocked so much potential for the everyday investor, and we believe that it should be easily accessible, inclusive, and transparent, for everyone. Our aim is to educate and give back to the Libra community every step of the way. Outside of the Libra community, we also feel it is our responsibility to give back to the causes and organizations that ourselves and the community believe in. That is why we launched our charity organization which will be a driving force in our effort to make the world a better place through crypto.
Now, could you tell us about your accomplishments so far, and in the history of Libra, please tell us what you are most proud of.
Although we are a young company, we have hit some major milestones in our short time. We were able to close a private seed round which saw us raise around $100,000. Since then, our community both on telegram and twitter has grown and the interest in our project from other blockchain companies and our community has grown significantly.
Now, give us a quick rundown of the future of the project. For example, what new things are you seeking to bring to life and what will it mean for the Libra?
Our roadmap for Libra is packed. After we launch our Swap and Farms this quarter, we will be ramping up to launch our stable coin farming in Q3. In addition to the features previously mentioned, we will be launching our commission free (for Libra holders) NFT marketplace. Our last launch of 2021 will be our launchpad, which will allow all Libra holders to take part in allocations for projects that are vetted, audited and kyc’d by the Libra team. Leading into 2022, our goal is to expand our marketplace and partnerships within the retail sector so that USDL can be used to purchase 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 me (Julian Vasil), Josh Davis and Ray Ouyang. All three of us have extensive experience in the crypto and blockchain space, and outside of that, Josh and I are experienced in business development and software/fintech sectors, having been part of numerous successful start-ups in the past. Our lead developer Ray is a talented and drive blockchain developer with years of experience in the space and who has been a part of many successful development teams.
Which partnerships have Libra engaged so far, and which ones are the most impactful?
For this question we may skip it since we do not have any formal partnerships signed. We have a lot in the works, everything from NGOs to e gaming companies to blockchain projects, but we have not formally announced anything.
Now on a more technical side of things, what are the token metrics for the LP token, and how do these lead to a stable and balanced system?
The Libra token has a max supply of 100million of that, about 11million will be circulating upon launch. Over 80% of the total token supply will go right back to our community, both in the form of farming rewards and community-based incentives. We have also implemented a weekly burn, which will see 30% of all rewards minted sent to the burn address and 5% of every reward in non-Libra farms being burnt as well. In addition to weekly burns, we will continue to add aspects to our ecosystem that rewards holders of Libra and that make the price of the Libra token less volatile.
If people would like to follow Libra on your social media pages, visit your website or read your important documents like your white paper, what are the links they need to visit? Please list them below.
https://www.cryptolibra.io/t.me/libradefi
https://www.linkedin.com/company/libradefi/
Thank you so much for your time! Do you have anything to add before we finish?
Thank you for having us! We are extremely excited to launch the Libra platform next month! Our commitment is, and always will be to our community and making Defi a safe and profitable space for them to invest in.
Disclaimer: This article is not intended to be a source of investment, financial, technical, tax, or legal advice. All of this content is for informational purposes only. Readers should do their own research. The Coin Republic is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by reliance on any information mentioned in this article.
