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LUSD is a fully redeemable USD-pegged stablecoin issued by the Liquity Protocol.
Liquity is a decentralized borrowing protocol that allows you to draw 0% interest loans against Ether used as collateral.
Loans are paid out in LUSD 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.
Liquity as a protocol is non-custodial, immutable, and governance-free.