Libra Finance - Builders Program Application

[Lib]

Project Overview

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• Links: https://linktr.ee/libraastar
• Docs: https://docs.librafinance.xyz
• Twitter: https://twitter.com/LibraAstar
• Discord: https://discord.librafinance.xyz
• GitHub: https://github.com/librafinance-xyz (private)

Libra Finance is inspired by the most successful Tomb Finance and DarkCrypto is an algorithmic token pegged to ASTR.

<Related project①> Tomb Finance
chain: fantom
launch: 06/2021
TVL: 450.8 million
https://tomb.finance/

<Related project②> Dark Crypto (fork from Tomb)
chain: cronos
launch: 01/2022
TVL: $153.3 million
https://www.darkcrypto.finance/

The algorithm helps to increase the supply in event of the deflationary tendency of the token or reduce the supply in event of a decline in purchasing power of the token. Therefore, the supply and demand of the Libra Finance are balanced which helps to maintain its peg to 1 ASTR in the long run. Happy for Investors, Happy for Players and Happy for Developers too!

Our mission

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We are committed to increasing Astar Network’s financial trading opportunities and maximizing TVL. It is a kind of non collateralized stable token, pegged to Native token. There are a lot of forks. It has gaming aspects. By this project, we want to bring more liquidity and create the token use cases after launch. It’ll be a challenge to the current financial system.

KGIs

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31/07/2022
⇒ Libra Finance TVL 8M$
(3 months later from release)

31/12/2022
⇒ Libra Finance TVL 100M$
(8 months later from release)

Tokens

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・LIBRA (Libra Token)

LIBRA token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain Libra’s peg to 1 Astar (ASTR) token in the long run.

・LSHARE (Libra Shares)

LIBRA Shares (LSHARE) are one of the ways to measure the value of the LIBRA Protocol and shareholder trust in its ability to maintain LIBRA close to peg. During epoch expansions the protocol mints LIBRA and distributes it proportionally to all LSHARE holders who have staked their tokens in the boardroom.

LSHARE holders have voting rights (governance) on proposals to improve the protocol and future use cases within the Libra finance ecosystem.

LSHARE has a maximum total supply of 70000 tokens distributed as follows:

1. DEV & Marketing Allocation: 7,000 LSHARE vested in 12 months
2. DAO Allocation: 10,500 LSHARE vested in 12 months
3. Insurance Allocation : 3,500 LSHARE vested in 12 months
4. Remaining 49,000 LSHARE are allocated for incentivizing Liquidity Providers in Shares pools for 12 months.

・ LBOND (Libra Bonds)

LIBRA Bonds (LBOND) main job is to help incentivize changes in LIBRA supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of LIBRA falls below 1 ASTR, LBONDs are issued and can be bought with LIBRA at the current price. Exchanging LIBRA for LBOND burns LIBRA tokens, taking them out of circulation (deflation) and helping to get the price back up to 1 ASTR. These LBOND can be redeemed for LIBRA when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for LIBRA when it is above peg, helping to push it back toward 1 ASTR.

Our 5 risks

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We believe that our risk of failure is one of the following.

Libra Verse($LIBRA Utilities )

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Libra Verse will be our ecosystem surrounding Libra Finance using LIBRA as main token. Libra Verse contains DeFi App, GameFi, NFT Apps . We will have endless work, and together we can make Astar become the largest blockchain.

Most recently, we plan to create two games.

The first is Libra Roll, a very simple game in which players are rewarded for guessing a number using LIBRA.

And the second is Libra Vegas. We will make 10 mini games.
This is an exchange of LIBRA into eLIBRA, which can be played for smaller amounts. We will tell you later that these games will release in Q3 2022.

Team

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We are an anonymous team with more than 6 years of development, design, investment and community operation experience and resources

Lib - Founder/ Developer＆Designer
Kaz - DeFi expert / Lead Developer
Holly - Lead designer
Mos - Full-stack developer

Our roadmap

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[WANGFROG]

Disclosed more and more details ,let,s know what you do ,thnaks !

[Lib]

Thanks for the comment! I have just updated it. We will update again soon.

[Lib]

Hey guys
We have made a major update to our docs.
We are gearing up for our launch next month​

[Lib]

Hi everyone!
We’ve done a major documentation update!
We look forward to your positive feedback and comments

Astar Season is here!

[pnpdude]

Hi. Your doc is great ! Libra verse is excited me.

Plus, from what I read so far, Libra will increase trading activities in the ecosystem.

However, this may be a noobie question.

What oracle the project use ? Or, Libra Finance Platform will be only for staking, you will partner with DEX

[Lib]

Thank you for your comments.
We are very happy to see your evaluation
On that matter, we will use uniswap v2 (ex: ArthSwap) LP as oracle. We are also considering entering into a partnership with them if necessary.

[Lib]

Our forum info has been updated again
We look forward to talk private AMA with Astar ambassadors today

[souleater]

tbh, i skipped the top part, and getting very excited on libra vegas (pardon me )

[Lib]

We think creating utility is very important. Thanks!

[Maarten]

Builder’s program voting

• Yes
• No

[rhee]

But I hope it is something else than a Casino.
For example Terra used luna stablecoin with a use-case called, Chai Pay.
It is a legit card payment solution, it’s usable in many ecommerce and offline stores, I think that’s one example of real-usecase.

I hope Libra Team does not need to rush, since you guys just begun in late March =]

[Lib]

Hi rhee! Thank you for hosting the AMA yesterday! And thank you for the FB

In conclusion, many users are excited about our protocol and we plan to continue with the project.

We are never in a hurry. However, as long as we are operating as a business, we are moving forward with the timing of our launches.

As you say, we started in March, but we have been able to create our current strategy by thinking about it every day from morning to night all the time. Also we believe that Libra Finance is a potential contributor to the Astar ecosystem.

[Lib]

And I would like to add that there seems to be a misunderstanding. Our protocol is not a stablecoin, but an algorithmic stablecoin.

Therefore, we believe that the use case you are proposing is not feasible in the short term.

This is because the protocol is subject to price fluctuations in the short term, so a stablecoin use case is next to impossible.

We assumed that you were familiar with Tomb Finance and algorithmic stablecoin. Therefore, we omitted those explanations from our presentation.

If there is any misunderstanding, it is our fault. We are very sorry.

[Lib]

Also Casino is not a real casino. And it is only a small part of the Libra Verse project.

We don’t want to do casino, we just want to implement various use cases with Astar’s DeFi protocol.

This is a protocol with so many users waiting in the wings. It is very sad that it has been misunderstood.

[Lib]

And let me also pass on FB to all the participants.

• I was expecting a FB on TVL’s goals, Allocation and product improvement in yesterday’s AMA. There were none of those points made.
• There has been no follow up from Astar up to this point in the private AMA, and we were just told to go ahead with the private AMA.
• Yesterday’s AMA did not help us understand what knowledgeable people would be attending and what we needed to prepare.

Perhaps I had high expectations for these things. But I am sure many applicants have high expectations as well. I would be happy if you would consider future improvements as just one opinion.

It was a good opportunity for us to think about how we will continue our activities in the future. Thank you once again!