Liquity

Liquity is a decentralized protocol built to revolutionize collateralized borrowing to provide interest-free liquidity against Ether. It offers loans in the form of LQTY, USD-backed stable coins that can be redeemed at face value for the ETH 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.