Project Details
What are you building?:Liquity is an immutable decentralized borrowing protocol that allows you to draw 0% interest loans against Ether used as collateral. Loans are paid out in LUSD - a USD-pegged stablecoin and need to maintain a minimum collateral ratio of only 110%. In addition to the collateral, the loans are secured by a Stability Pool containing LUSD and by fellow borrowers collectively acting as guarantors of last resort. Users borrowing against their ETH use decentralized 3rd party front ends. LQTY is the secondary token issued by Liquity. It captures the fee revenue that is generated by the system. Liquity is the only lending service available in DeFi that is unstoppable & likewise, LUSD is the only stablecoin capable of resisting all kinds of censorship. Liquity as a protocol is non-custodial, immutable, and governance-free. No person or group has any control over the protocol — it is “set in stone” in smart contract code, and can never be changed. Liquity is an immutable, governance-free borrowing protocol that allows you to borrow interest-free against ETH as collateral. Loans are paid out in LUSD — a decentralized USD-pegged stablecoin.