Proposal to add TRYB/USDC Pool on Arbitrum One

Summary

BiLira and DFX partnership began in September 2021. Initially, BiLira’s pool was established on the Ethereum network, and then expanded to Polygon network, making TRYB on DFX more accessible to retail users. With the recent launch of Arbitrum One on DFX, TRYB was bridged to the network as well. Our goal is to expand the reach of TRYB to a wider user base on both Arbitrum One and DFX. We anticipate a mutually beneficial journey as we explore possibilities presented by Arbitrum One. With this development, we hope to unlock new opportunities for both BiLira and DFX, as well as provide enhanced benefits to our users on these platforms.

Specifications

The BiLira (TRYB) token is a full-reserve stable cryptocurrency that is built on 6 different blockchains, issued and managed by the BiLira organization, backed by the Turkish Lira and collateralized 1 : 1, secure and compatible with ERC-20 token standards. Users can use the web application to conduct TRYB issuances and redemptions between their local banks and their digital wallets.

The minting of on-chain TRYB is from fully collateralized bank deposits. Users connect their wallets and deposit fiat currency (TRY) into BiLira’s bank account. BiLira confirms the transaction and verifies the smart contract. The smart contract then mints corresponding TRYB tokens and sends them to the customer’s crypto wallet. Corresponding fiat currency is held in BiLira’s reserves. This information can be verified through our audit reports that are done via 3 party firms.(link to the reports can be found below). Another factor is that BiLira doesn’t hold the users crypto assets. The issuance process is non-custodial and the assets are sent to the users wallet addresses that they provide. For redemption, users send their TRYB to their BiLira redemption wallets, and convert the specified TRYB to Turkish Lira through website. All of the redeemed TRYB from customers are burned in a monthly routine. BiLira firm uses enterprise-grade multi-layer security measures such as Multi-Sig wallets through Fireblocks.

References/Useful Links

Website
Issuance & Redemption

Contracts

Ethereum
0x2c537e5624e4af88a7ae4060c022609376c8d0eb
Avalanche
0x564a341df6c126f90cf3ecb92120fd7190acb401
Polygon
0x4fb71290ac171e1d144f7221d882becac7196eb5
Solana
A94X2fRy3wydNShU4dRaDyap2UuoeWJGWyATtyp61WZf
BNB
0xC1fdbed7Dac39caE2CcC0748f7a80dC446F6a594
Arbitrum One
0x00705ae3722041a5bb566232b439de69ca585ddf

Vote

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