Liquity USD

Liquity is a decentralized protocol that allows ethereum holders to obtain maximum liquidity without paying interest. By locking ETH in as collateral for a smart contract and creating a personal position in a "trove," users can obtain instant liquidity by mining LUSD, a stablecoin pegged to the U.S. dollar. Each trove is required to have at least 110% collateral. Any owner of LUSD may redeem its stablecoin as underlying collateral at any time. Redemption mechanisms and algorithmic adjustment fees ensure a minimum stabler value of $1.