Lybra Finance launches Lybra DAO, where esLBR and LBR holders can participate in decision-making through proposals and voting

ChainCatcher news, the stablecoin protocol Lybra Finance announced on Twitter that it will launch Lybra DAO at 21:00 Beijing time on October 1. esLBR and LBR holders can now participate in Lybra's decision-making by submitting governance proposals and voting. A minimum of 10,000 esLBR is required to submit a DAO proposal, which will be submitted via Tally. Voting will start 2 days after the proposal submission, and any LBR/esLBR holder can vote, but any LBR used will be automatically converted to esLBR at the time of voting, with 1 LBR representing 1 vote. Each proposal will have a voting period of 7 days. If the DAO votes in favor of an on-chain proposal, it will be automatically executed by Time Lock 2 days after the voting ends.