This week, the LQTY crypto asset will be listed on INDODAX. Open deposits will start on May 3rd, 2023, at 14:00 WIB, and available trading will start on May 4th, 2023, at 14:00 WIB.
Liquity runs with the ERC20 network, a decentralized lending protocol that allows users to withdraw interest-free loans against Ether, which is used as collateral. Curious? Come on, read more here!
Data and Information
Liquity is a decentralized protocol that allows Ether holders to get the maximum Liquidity of their funds without paying interest.
After locking ETH as collateral in a smart contract and creating individual positions called “Trove,” users can get instant Liquidity by minting LUSD, the USD-pegged stablecoin.
Each Trove must be guaranteed at least 110%. Any owner of LUSD can redeem their stablecoin for the underlying collateral at any time.
The shared redemption mechanism with algorithmically adjusted fees guarantees a minimum stablecoin value of $1.
An unprecedented liquidation mechanism based on incentivized stability deposits and redistribution cycles from riskier Troves to safer Troves provides stability with a significantly lower collateral ratio than the current system.
Stability is maintained through economically driven user interaction and arbitrage, not by active governance or monetary intervention.
The protocol has built-in incentives that drive both the adoption and operation of multiple front ends, increasing decentralization.
The motivation behind Liquidity
Stable value assets are essential building blocks for Ethereum applications and have grown to represent tens of billions of dollars in value.
However, this value is mostly in fiat-backed stablecoins like Tether and USDC.
Decentralized stablecoins like DAI and sUSD make up only a small part of the total stablecoin supply, meaning most stablecoins have expired.
Liquity addresses this by creating a more capital-efficient and user-friendly way to borrow stablecoins.
Additionally, Liquity is governance-free, ensuring that the protocol remains decentralized.
The main benefit of Liquity
Key benefits of Liquity include:
- 0% interest rate — as a loan, you don’t have to worry about the debt growing
- Minimum collateral ratio 110% — more efficient use of stored ETH
- Governance free — all algorithmic and fully automated operations and parameter protocols are defined during contract implementation.
- Instantly redeemable — LUSD can be redeemed at face value for collateral laid out at any time.
- Fully decentralized — Liquity Contracts have no admin keys and will be accessible via multiple interfaces hosted by different Frontend Operators, making them censorship resistant.
LQTY Crypto Assets
The current CoinMarketCap ranking is #172, with a live market cap of $155,454,403 USD. It has a circulating supply of 91,867,673 LQTY coins and a max. supply of 100,000,000 LQTY coins.
How to Buy LQTY Crypto Assets on INDODAX
Those who want to buy LQTY crypto assets can buy them on INDODAX starting May 4th, 2023, at 14:00 WIB. Here’s how to buy it:
- You can register immediately for those of you who still need to become a member.
- After that, make a deposit.
- After your deposit and balance are entered, you can return to the INDODAX market.
- Look for LQTY on the IDR market, then click on it.
- After entering, you must buy by filling in your balance and at what price you want to buy LQTY. You can also buy it instantly or directly at the current price.
- After that, you need to wait for the price to increase for some time
- After the price increases, you can sell at a higher price with the instant method
- If you sell with the limit method, you can place an order after buying. Make sure you enter a higher number when selling.