Rank #13LUSDCrypto-Backed

Liquity USD

Pegged to

USD

Market Cap

$70.00M

24h Volume

$5.00M

Circulating Supply

70.00M LUSD

Total Supply

70.00M LUSD

Peg Target

USD

Collateral Type

Crypto-Backed

Issuer

Liquity Protocol

Launch Date

05-04-2021

About Liquity USD

Liquity USD (LUSD) is a decentralised stablecoin backed exclusively by ETH through the Liquity Protocol. Unlike DAI, Liquity offers interest-free borrowing — users pay a one-time borrowing fee when opening a Trove (vault). LUSD maintains its peg through algorithmic mechanisms including a hard price floor at $1 (redeemable for ETH) and a soft ceiling via arbitrage. The protocol is fully immutable and governance-free, making it one of the most censorship-resistant stablecoins. Stability Pool depositors earn liquidation premiums and LQTY token rewards.

Supported Blockchains

Ethereum

Pros

Truly immutable — no governance attack surface
Interest-free borrowing
Fully decentralised and censorship-resistant
ETH-only collateral is simple and transparent

Cons

ETH-only collateral limits flexibility
Can trade above $1 peg in low demand
Ethereum-only deployment
Complex Trove management for users

Key Features

Interest-free borrowing against ETH

Immutable and governance-free protocol

Hard peg floor via ETH redemption

Stability Pool for liquidation rewards

No admin keys or upgradability

Minimum 110% collateral ratio

Stablecoin Information

Community & Socials

Website Twitter / X Discord GitHub