[ANN] Libre [LIBRE] - A new blockchain for scaling Bitcoin and Tether (Updated)

[b4nrtfg]

UPDATE: Mint Rush ended Jan 14, 2023. 380 Contributions. $2MM in LIBRE-BTC Liquidity. 95% LIBRE is Staked. Check Twitter and Discord for updates.

    
The Problem:

There is no worldwide solution for fast Bitcoin and Tether with the ability to swap between the two efficiently. Lightning is a solution for small Bitcoin transactions, but the TARO implementation of stablecoin is years out and likely to be highly centralized / gated. Chains such as THOR offer native swaps, but costs are high and transactions are extremely slow. Centralized exchanges and services such as Changelly, Strike, and others have usability drawbacks, custodian single point of failure, and geographical restrictions.

Libre Solution:

Libre has the best AMM for trading BTC / USDT for low fees and ultrafast transactions. Libre allows users to onboard with Bitcoin or Lightning Network quickly and with minimal amounts. The Bitcoin and USDT peg-in/out is handled by the PNetwork of MPC nodes. Lightning Node Providers can connect to Libre and earn fees. The AMM is incentivized directly from the chain with farming rewards. There is no frontend dependency or dependency on a centralized team.
        Core Developers (Telegram Usernames): xaviercr, leisterfrancisco, bitcoinlibrewallet
        Contributing companies: Edenia, Unicorn, Percival, LibreTech, DraperX, Cryptobloks
        Controlling companies: None

Overview:

Libre officially launched on 4th of July, 2022. It is the native coin that enables the Libre Chain protocol rules. Network participants can stake LIBRE to enact governance, receive LIBRE as mining rewards, and earn LIBRE for providing liquidity. Specifically, LIBRE serves three functions:
Governance - voting in Libre DAO to govern the DAO treasury.
Validator Elections - each wallet can choose 1 validator, votes decay over time so as your staking period nears its end, your voting power will weaken.
Staking - staking LIBRE for governance pays a yield which is higher the earlier you stake and the longer you stake.

Mint Rush: Fair Launch

On Dec 15, 2022 the public launch of the LIBRE token: the "Mint Rush" began. This was a fair launch of the governance token LIBRE where 200M tokens distributed to anyone who contributed BTC during the Mint Rush time period. 100% of the BTC raised went into the AMM liquidity pool along with 200M LIBRE - owned by the Mint Rush contributors.

To participate in the Mint Rush, users needed to send pegged BTC (PBTC) to a smart contract. A fixed amount of LIBRE tokens was be distributed pro-rata to all Mint Rush participants. 100% of the proceeds went into a liquidity pool on the LIBRE AMM.

As an incentive to early participation, users are a declining yield bonus that applies to their initial mint rush stake. So, the price for all participants was the same (and discoverable at the end of the mint rush as the ratio of Total Mint Rush Libre / BTC contributed), but the staking returns vary depending on timing of the contribution.

The math for calculating the Mint Rush bonus can be found in the Mint Rush section of https://docs.libre.org - for example, staking on Day 1 of the Mint Rush got you a 2x bonus on the Mint APY (400%) on your staking rewards. Day 15 bonus is calculated as ( 15 / 30 * 2x) = 1x (200%).

The start date, duration, maximum mint bonus, and amount of LIBRE is hard coded into the staking contract – source code here: https://gitlab.com/libre-chain/staking-contract

Chain Details:

        Crypto: secp256k1
        Consensus: DPOS
        Total wallets: 420K +
        Block Time: 0.5 sec
        Block Reward: 4 LIBRE
        Block Reward halving schedule: 6 months
        Max Coin Supply: 100B
        Founders Reward: No
        ICO: No
        Airdrops: 178,000 LIBRE was claimed... remainder went into funding DAO treasury https://dashboard.libre.org/dao

Pegged BTC and Audit:

For Libre to have free transactions, simple names, and instant settlement — it uses pegged tokens. These pegged tokens are managed by the decentralized pNetwork. pNetwork issues and redeems all of the BTC and USDT on the Libre chain.

In the spirit of “don’t trust, verify” — we have a public page that runs a daily check to audit the BTC held by pNetwork. That is visible on the Libre dashboard at https://dashboard.libre.org/audit

Swap - Trade and Earn from Liquidity:

Anyone can provide liquidity to the Libre AMM. As an incentive, they will be able to earn LIBRE rewards by staking their LP tokens. For example, the PBTC / PUSDT pool will accrue farming rewards equal to 1/4 of whatever validators earn per day. The same for the PBTC / LIBRE pool.
To add liquidity, visit https://dashboard.libre.org/swap

Farming APYs will depend on the number of participants farming each pool and the share of staked LP tokens that each account has staked.

Staking Rewards:

LIBRE must be "staked" to engage in governance - voting for validators and DAO proposals. In exchange for securing the network, LIBRE holders receive staking rewards in LIBRE. These staking rewards begin high and decrease over time.

You choose the amount of LIBRE to stake and the number of days your LIBRE will be staked.

The earlier you stake and the longer you stake, the higher your yield.

You must stake for at least 1 day - can stake up to 4 years.
If you want to claim your LIBRE before the Payout Date is reached, you can Emergency Unstake for a 20% loss on your principal and you will not earn any of the accrued interest.
100% of Mint Rush LIBRE was staked on day 30 for a minimum of 30 days.

Staking LIBRE can be done via https://dashboard.libre.org or by sending LIBRE using any wallet to stake.libre with the memo "stakefor:DAYS" - for example, if you want to stake 10,000 LIBRE for 365 days, you would send 10000.0000 LIBRE with a memo of "stakefor:365."

Links:

Please join us on our social channels for the latest news and updates.

        Libre Twitter: https://twitter.com/libreblockchain
        Libre Discord: https://discord.com/invite/asJNsB6sYJ

Wallets:

Bitcoin Libre (mobile wallet) is available for download at:

Google Play: https://play.google.com/store/apps/details?id=xyz.bitcoinlibre.app
App Store: https://apps.apple.com/kw/app/bitcoin-libre/id1590680702

Other wallets: https://www.libre.org/wallets

Summary:

Libre is designed with a usability-first approach to make it easy to build apps that are simple for end users. It solves the scaling issues of Bitcoin and Tether with a secure, decentralized protocol - Libre is freedom for your financial app infrastructure.

Let me know if you need any further assistance or have any questions.

More details can be found on our website at: https://www.libre.org

[KingZee]

Test?

How come this thread has zero replies? Did no one look into this project and if it's legit?

[b4nrtfg]

We honestly weren’t sure if there were any real users left on here! Thanks for the reply.

Sign up and reply here with your Libre username - we will send you some Tether so you can test out the swap and move the Bitcoin to ANY Bitcoin or Bitcoin Lightning wallet.

[KingZee]

We honestly weren’t sure if there were any real users left on here! Thanks for the reply.

Sign up and reply here with your Libre username - we will send you some Tether so you can test out the swap and move the Bitcoin to ANY Bitcoin or Bitcoin Lightning wallet.

I checked the website, read part of the whitepaper/docs, and so on.

But I'm always skeptical of installing new software on my phone/computer, which is why I am not sure about this project.

I found this through twitter, and I came here trying to find opinions from bitcoiners since your project wants to be closely tied to it. But it's unfortunate for both of us I guess that your post didn't pick up.

I may or may not decide to join in, but I'd appreciate if you integrated your "connect wallet" with existing, proven, possibly open sourced wallet solutions.
Your git has your infrastructure laid out, the nodes, the core contracts and so on, but I don't trust your wallet. Sorry it's nothing personal it's just that I would rather have the verification of someone trustworthy, in my entire crypto life I've never installed anything on my computer besides Metamask, Bitcoin core, and the official Cardano wallet.

Also, I thought you should know, but Adblock blocks the two top banners you have in your app for me.

Good luck!

[b4nrtfg]

You should 100% try out Bitcoin Libre - the app is just an incredibly fast for Bitcoin and Tether. It also integrates with Bitcoin Lightning. The app already has over 200k downloads, and if there was anything wrong - it would have been detected and removed by Apple or Google Play.

In addition, Android and iOS apps are very well sandboxed so they cannot access resources or data from other apps unless the user allows it.

If you still don’t want to use Bitcoin Libre, there are two open-source wallets you can use on Libre:

Anchor Desktop - 100% open-source: https://github.com/greymass/anchor/releases/tag/v1.3.9
Cleos CLI - 100% open-source: https://github.com/AntelopeIO/leap/releases/tag/v3.2.0

For either of these, you can generate a seed / private key and create an account at https://accounts.libre.org

There are instructions written here on how to generate a seed:

https://docs.libre.org/libre-docs/accounts-and-wallets/creating-multiple-accounts

The banners on web were set to disappear this weekend via timer, so it’s not Adblock removing them. They do flash for a second when the page loads, but that will be fixed up today.