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Liquity — Weekly Wrap Up #13
July 26, 2021
Welcome to the Weekly Wrap Up, a weekly series where I go over all of the highlights in the Liquity ecosystem. This issue covers the week of 7/19–7/25.
What is Liquity? Liquity is a decentralized borrowing protocol that allows you to draw 0% interest loans against Ether used as collateral. Learn more.
Since July 21 the ETH price has been on a rally, increasing from around $1,700 to $2,300 at time of writing. As a result, borrowers are feeling more comfortable with market conditions and are beginning to lever up again. You can see the clear shift in sentiment in the chart above.
What’s even more impressive is that this increase in borrowing did not lead to an increase in Stability Pool utilization, meaning users are finding other places to put their LUSD to work. Stability Pool utilization also happens to be at an all time low of around 76% — a positive sign for LUSD adoption.
The increase in new borrowing also pushed Liquity’s protocol revenue past $13M since our launch in April.
Reminder: Quadruple rewards are live for the Saddle D4 Pool. Users can earn LQTY, FXS, ALCX, and TRIBE all at once by providing liquidity to the D4 Pool and staking their LP tokens via the Frax interface. Learn more.
crvLUSD has been included in BasketDAO’s Money Market Index (BMI). BMI is an index of stablecoin yield farms that’s automatically rebalanced monthly to ensure that yields are high and risk is diversified. Try it here.
Harvest Finance launched their LQTY staking vault. The vault automatically harvests earned LUSD and ETH rewards and uses them to acquire and stake more LQTY. The Harvest team is in the process of including their own iFARM rewards. Learn more.
Our Community Manager, Derrick, published a tutorial covering how to use Liquity on DeFi Saver — a dashboard for creating and managing your DeFi positions. Read it here.
If you were in Paris last week, we hope you had a chance to attend the Fetedao event we sponsored. The event featured two DeFi panels that included speakers such as our CEO and Founder, Robert Lauko, Stani Kulechov, Ashleigh Schap, Mariano Conti, and a few others.