DeFi Lender Liquity Unveils New Stablecoin With User-Set Borrowing Rates in White Paper

Decentralized finance (DeFi) lending platform Liquity (LQTY)'s planned upgrade will include an overcollateralized stablecoin that makes use of liquid-staking tokens of ether (ETH) as backing assets and allows user-set interest rates for loans, a first in DeFi, according to the protocol. "Current protocols either rely on slow and potentially misaligned human governance," according to a white paper published Tuesday. "Liquity V2 will change that." Liquity is known as a stablecoin lender that offers 0% loans in its overcollateralized LUSD stablecoins for users depositing ETH in the protocol while charging a one-time fee. The new stablecoin, called BOLD, will co-exist with LUSD.

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