Liquity (LQTY) is a decentralized borrowing protocol built on the Ethereum blockchain. It allows users to borrow against their ETH holdings without the need for traditional collateral. Liquity aims to provide a more efficient and stable alternative to existing decentralized finance (DeFi) lending platforms by using a novel stability mechanism and unique redemption process. Users can mint LUSD stablecoin by depositing ETH into the protocol and repay their loans at any time to retrieve their collateral. Liquity also features a governance token, LQTY, which enables holders to participate in the platform’s decision-making process.