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Back to Stablecoins
Liquity USD
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

Category

Crypto-Backed

Collateral Type

Crypto-Backed

Issuer

Liquity Protocol

Community & Socials

Website Twitter / X Discord GitHub

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