🤖Mechanism Overview

HOW IT WORKS

ZEBRA Protocol combines LSD and Liquity, and supports a variety of LSD asset combinations based on the Liquity protocol.

Here is a brief introduction how ZEBRA Protocol works:

1. Deposit - Users can deposit their ZETA or LSDs into ZEBRA protocol, they can either choose a strategy or approve their assets to a vault contract. The assets will go into different LSD protocol and start earning interests, and ZEBRA protocol takes no fee.

2. Mint - Users can mint the native stablecoin zbrUSD against their assets used as collateral by opening a Trove, where incentivized by esZEBRA.

3. Redeem - Redeem1 zbrUSD for $1 worth of LSDs when zbrUSD pegging falls below $1 at any time.

4. Liquidate - Secure ZEBRA Protocol by providing zbrUSD to the Stability Pool in exchange for rewards paid as liquidation fee and esZEBRA.

5. Earn - Providing liquidity for $ZEBRA/ZETA and zbrUSD/USDC LP pool to earn reward paid in esZEBRA.

6. Stake - Stake esZEBRA to earn the protocol fees such as minting fee, redemption fee and annual fee, earn esZEBRA and govern the system.

7. Lock - Buy and Lock ZEBRA from the market, convert it into esZEBRA to earn protocol incomes and governance the system.

8. Unlock - Unlock esZEBRA and convert it to ZEBRA at anytime through a cliff-linear-vesting process.

9. Governance - Vote on ZEBRA Improvement Proposals to decide the future of ZEBRA protocol.