According to Foresight News, interest-bearing stablecoin protocol Lybra Finance announced that it will launch Lybra DAO on October 1 at 21:00 Beijing time. esLBR and LBR holders can now participate in Lybra 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 through Tally.

Voting will begin two days after the proposal submission, and any LBR/esLBR holder can vote. However, any LBR used will be automatically converted to esLBR during voting, with one LBR representing one vote. Each proposal will have a seven-day voting period. If the DAO votes 'yes' on a particular on-chain proposal, the proposal will be automatically executed by Time Lock two days after the voting ends.