Liquity

More Than 4M LUSD Was Burned On Oct. 24

DeFi Traders Have Been Borrowing LUSD and Swapping For DAI To Capture Yield Differential

Liquid Staking Sector Pulls Back After Meteoric Run; Liquity Pops 45%

Novel Liquidity Mechanism Attracted More Than $70M

Liquity Increases Protocol-Owned Liquidity By Nearly $500,000

New Mechanism Quickly Amasses More than $5M in Deposits

Aave and Compound Liquidated Just $850K Of Collateral As Ether Dropped 25%

Investors Eye Decentralized Stablecoins as Consortium Bars 38 Addresses

Liquity is a decentralized borrowing protocol that allows you to draw interest-free 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 110%.

Liquity Network, relatively unknown before its April 5 launch, now has $2.4B of ETH locked, placing it 11th among all Ethereum protocols, ahead of open finance mainstays Synthetix and Bancor. The protocol resembles MakerDAO in that users lock up ETH in order to mint Liquity’s stablecoin LUSD, but differs from the DAI-orginiator in that it…