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Liquity — Weekly Wrap Up #6

Liquity — Weekly Wrap Up #6

Kolten Bergeron

May 24, 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 5/17–5/23.

What is Liquity? Liquity is a decentralized borrowing protocol that allows you to draw 0% interest loans against Ether used as collateral. Learn more.

System Overview

  • Last week was quite dramatic! On Wednesday, 5/19, we saw the ETH price rapidly drop from ~$3,400 to ~$1,800. This caused a series of liquidations across the DeFi ecosystem, Liquity included. On 5/19 we saw around ~300 Troves liquidated and at time of writing there are ~500 active Troves remaining.
  • During the liquidations last week, ~93.5M LUSD debt was offset against the Stability Pool and ~48,668 of liquidated ETH was distributed to Stability Pool depositors. Allowing Stability Pool depositors to “buy the dip”.
  • Even after last week’s madness, Liquity still has 849K ETH locked — $2.08B as of 5/24.
  • Last week, Liquity crossed $10M in revenue — all of which is distributed directly to LQTY holders. Since then, revenue has quickly approached $10.7M.
  • Find more system stats here.



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