BiLira is an organization that manages its native token BiLira (TRYB). TRYB is a stablecoin pegged to fiat currency, intending to offer advantages like improved transaction throughput, heightened security, and decreased fees in contrast to traditional banking channels.^[21][22]

History

BiLira was founded on the 19th of July, 2019^[2], by Sinan Koc (CEO), Murat Firat (CTO), and Vidal Arditi (COO), and is a growing team consisting of software engineers, and blockchain developers.

BiLira oversees the TRYB stablecoin pegged to the Turkish Lira, and aims to democratize finance, especially for Turkish citizens making them able to seamlessly integrate into decentralized finance. The BiLira organization is a joint-stock company incorporated under Turkish law with a vision to enhance the access of Turkish citizens to the decentralized and peer-to-peer (P2P) global financial network through the use of its price-stable cryptographic token.^{[1][14][21][22]}

Overview

The BiLira organization serves as the primary entity responsible for overseeing and managing the network, with plans to transition governance responsibilities to certified network members and market makers in the future. Operating independently of network members and organizational partners, BiLira is equipped with its own working capital, employees, and technology stack. As the stablecoin platform evolves, the team intends to assume a founding member role, offering the original open-source technology.

The BiLira Platform, a web application facilitating TRYB transactions, aims to function as a user-friendly fiat on/off ramp gateway, offering a swift, secure, and cost-effective solution compared to other options available in the local market.^[16][14][22]

"BiLira, acting as a ramp for peer-to-peer marketplaces, will make cryptocurrencies more accessible to the locals, especially backed by such reputable marketplace like Paxful, we can see this going far." - Vidal Arditi, COO of BiLira^[3]

Objectives

The BiLira organization aims to achieve four key objectives:

1. Conducting research, development, and maintenance for the BiLira stablecoin and software implementation, while managing the organization's website and code repository.
2. Overseeing business development, governance, and compliance functions for the BiLira Network, including efforts to promote product adoption.
3. Ensuring fund safety, compliance, and due diligence for network participants to maintain trust and legal compliance.
4. Raising awareness of cryptocurrencies and blockchain technology among Turkish citizens while contributing expertise to distributed ledger infrastructure.^[22]

Structure

The BiLira team functions within a decentralized structure, distributing roles across diverse areas like software engineering, project management, finance, and compliance.

Supported by a board of advisors and private investors, the organization collaborates with academic and professional bodies, including regulators, blockchain experts, and investment funds.

Additionally, it partners with entities experienced in personal finance, compliance, and emerging technologies.^[22]

BiLira (TRYB) Token

The BiLira (TRYB) token is a stablecoin, issued and managed by the BiLira organization. It is directly pegged to the Turkish Lira at a 1:1 ratio, meaning one BiLira token is equal in value to one Turkish Lira. TRYB is designed to be compatible with the ERC-20 token standard, making it usable on Ethereum-based platforms, and it is also available on the Avalanche blockchain network.

The BiLira token (TRYB) is a fully backed stablecoin that is based on underlying fiat reserves that are held in custodian accounts.^[1][2][17]

Team

BiLira team consists of Turkey's most experienced blockchain developers and financiers. Their details are shown in the table below:^[16]