The Lyrebird Token (LRB) is the reserve token of the Lyrebird ecosystem. Its main role is to absorb the volatility of L-assets thereby keeping them pegged to their target prices.
LRB has an initial supply of 100M, but does not have a fixed supply. LRB's supply expands and contracts as it is swapped to and from L-assets to match the supply of L-assets to their demand. The supply of LRB will be gradually released through airdrops and liquidity pool rewards.
The following lists some important functionalities that it implements:
- Mint a desired quantity of the token, increasing the total supply. Can only be called by the Aviary contract.
- Burn a desired quantity of the token, decreasing the total supply.
- Stake a desired quantity of the token.
This is implemented as an
- Addresses with staked tokens are eligible for regular swap spread fee distribution. Once voting is implemented, each address will also be given a number of votes equivalent to its staked LRB quantity.
- Begin unstaking a quantity of an address's staked LRB.
The tokens will be in
unstakingstatus for a period of
30 days, after which the owner can call
claimUnstakedto add the tokens back to their regular balance.
- Once initiated, the unstaking quantity does not receive any staking benefits, nor does it count toward voting. The unstaking process cannot be canceled; only claimed once unstaking is complete. An address may have multiple concurrent unstaking processes in progress.
- Retrieve all tokens in
unstakingstatus for which the unstaking period has elapsed and add them to the available balance.
- Vote on a proposal - not yet implemented.