Liquity V1 is a decentralized borrowing protocol on Ethereum that allows users to draw 0% interest loans using Ether as collateral. It issues the BOLD stablecoin, which is always redeemable for $1 worth of ETH, ensuring stability and censorship resistance. The protocol is immutable, with no admin keys or DAO control, making it a trustless and cypherpunk-aligned DeFi primitive.
