Liquity is LIVE on Ethereum mainnet!

Interest-free liquidity at your fingertips

Borrow LUSD against ETH at 0% interest.

Total Value Locked

$ ...

Collateralization ratio

Low collateralization ratio

The highly efficient liquidation mechanism of the Liquity Protocol enables you to get the most liquidity for your ETH. Take advantage of interest-free loans to achieve your goals.

*Under normal system operation — read more about maintaining a "safe" collateral ratio during Recovery Mode here.

Learn how it works
Collateral ratio*
LUSD pegged to the US Dollar

Robust and stable

The protocol’s algorithmic governance and the direct redeemability of LUSD ensures that the stablecoin remains pegged to the US Dollar.

Holders of LUSD can provide stability to the system, while benefitting
from liquidation gains and LQTY rewards.

Learn how it works
LUSD pegged to the US Dollar
Front-ends run by third parties

Become a Frontend Operator

Download the launch kit and run a frontend. By providing access to the protocol you receive a part of your users' rewards.

Learn how to run a frontend
Frontends run by third parties


What is Liquity?


Liquity is a 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. Learn more about these mechanisms under Liquidations.

Liquity as a protocol is non-custodial, immutable and governance-free.

How can I use Liquity?


You first need to choose a web interface (aka frontend) to access the system. The core team building the protocol will not operate a frontend. Liquity is instead accessed by third-party frontend applications and integration services.

You can find a list of frontends here.

What are the key benefits of Liquity?


Liquity offers the best borrowing conditions on the market with the main benefits being:

- 0% interest rate
- A collateral ratio of just 110%
- Governance free - all operations are algorithmic and fully automated
- Directly redeemable -  LUSD can be redeemed at face value for the underlying collateral, always and at any time
- Censorship resistant - the protocol is controlled by nobody

How can I earn money on Liquity?


There are basically two different ways to generate revenue using Liquity:

1. Deposit LUSD to the Stability Pool and earn liquidation gains and LQTY rewards
2. Stake LQTY and earn the revenue from issuance fees (in LUSD) and redemption fees (in ETH)

Why should I become a Frontend Operator?


Frontend Operators provide a web interface to the end-user enabling them to interact with the Liquity protocol. For that service, they will be rewarded with a share of the LQTY tokens their users generate.‌

LQTY rewards are being awarded to Stability Pool depositors and then proportionally shared between the users themselves and the Frontend Operator. How much each party gets is determined by the kickback rate which is set by the Frontend Operator and can range between 0% and 100%.‌

Setting a high Kickback Rate will make the Frontend Operator attractive to users, but offering a nice interface and additional functionalities might allow for a lower kickback rate while still garnering user interest.

What is the purpose of this website?


The entire website is of purely informational nature, intended to educate users about the usage and provide background information on the Liquity Protocol.

Once deployed, the protocol will work autonomously and its developer (Liquity AG) will have no influence on its technical functionalities.

Any use of we, our etc. within the website or the accompanying documentation is referring to the Liquity Protocol as deployed and not to Liquity AG.