USDL and Stablecoin Farming Explained
One of the unique features of the Libre ecosystem is the $USDL, the Libre Stablecoin. The major thing that makes Libre Stablecoin unique is that fiat currencies back it. Fiat currencies are currencies issued by central banks. Examples of fiat currencies are the US dollar, Euro, Japanese Yen, etc. Our stablecoin is fully backed by the US dollar, which means users who own any amount of our stablecoin own an equivalent of US dollar worth, e.g., If a user owns 100 USDL, it means they also own 100 USD. We back our currency with fiat because of the scrutiny and regulations that stablecoins currently, and will continue to face.