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Stablecoins have been developed as a solution to the price fluctuations often seen in cryptocurrencies such as Bitcoin and Ethereum. LUSD, the native stablecoin of the Liquity protocol, is a prominent example of a decentralized stablecoin. Unlike more centralized projects like USDT and USDC, LUSD is designed to maintain a steady value using only smart contracts and without needing human intermediaries.
LUSD is a stablecoin that is backed by ETH deposits, with the goal of keeping a 1:1 ratio with the US dollar.
Just like how MakerDAO uses borrowing positions known as “Vaults” to back the DAI stablecoin with crypto deposits, Liquity uses similarly conceived “Troves” to underpin LUSD.
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