Liquity V1

Liquity V1 is a decentralized and immutable borrowing protocol that allows you to draw 0% interest loans against Ether used as collateral.

## Overview Liquity V1 is a decentralized borrowing protocol built on Ethereum that enables users to deposit Ether as collateral and receive loans of LUSD, a USD-pegged stablecoin, at zero percent interest. Unlike traditional lending platforms or centralized stablecoin issuers, Liquity V1 operates without governance tokens, admin keys, or upgrade mechanisms—making it immutable once deployed. The protocol was designed to solve a specific problem in DeFi: the ability to borrow stablecoins cheaply without paying ongoing interest, while maintaining full decentralization and censorship resistance.