What is the current price of Liquity?
The current price of Liquity is $0.1974 with a 2.84% change in the last 24 hours.
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
Liquity is a decentralized borrowing protocol on Ethereum that lets users deposit ether and mint a dollar denominated stablecoin against it. It is unusual in that the core contracts have no admin keys, no upgrade path, and no governance over risk parameters. Once deployed, the rules are fixed.
The protocol now exists in two live versions. Liquity V1, launched in April 2021, issues LUSD against ETH at a minimum collateral ratio of 110 percent with no recurring interest, charging a one time borrowing fee instead. Liquity V2, which reached stable mainnet operation in May 2025, issues BOLD against ETH, wstETH, and rETH and lets each borrower set their own interest rate. LQTY is the secondary token: it captures V1 fee revenue through staking and directs where V2 liquidity incentives are spent, but it does not govern the core lending contracts, because those cannot be changed.
Official sources:
Liquity was built by Robert Lauko, a researcher who previously worked at DFINITY, together with lead engineer Rick Pardoe. Development ran for roughly eighteen months before V1 went live on Ethereum mainnet in April 2021, backed by early funding rounds with participants including Pantera Capital.
V2 took a longer and more cautious path. An initial launch was announced for 23 January 2025, but an issue in the new Stability Pool logic was identified, the deployment was paused, and the protocol was redeployed. V2 relaunched on Ethereum mainnet on 19 May 2025 after a five week public audit contest and multiple re-audits. That sequence explains why some references date V2 to January 2025 and others to May 2025.
Both versions share the same core loop. A borrower opens a position, called a Trove, by depositing collateral and minting stablecoins against it. If the position becomes undercollateralized, it is liquidated. Anyone holding the stablecoin can redeem it against collateral at face value, which pulls the price back toward one dollar from below.
V1 keeps this deliberately simple. ETH is the only collateral, the minimum collateral ratio is 110 percent, and borrowers pay a one time fee instead of accruing interest. A system wide Recovery Mode tightens rules if total collateralization falls below 150 percent.
V2 replaces the fixed fee with a market for interest rates. Each borrower picks the rate they are willing to pay, and redemptions hit positions in ascending order of interest rate within each collateral branch, so a low rate saves money but increases the chance of being redeemed against. Rate setting becomes a live auction for redemption protection rather than a parameter a DAO votes on.
The published V2 parameters are concrete. The ETH branch reaches roughly 90.91 percent loan to value at liquidation, while the wstETH and rETH branches cap near 83.33 percent, with shutdown thresholds of 110 and 120 percent. Minimum debt is 2,000 BOLD, liquidations carry a 5 percent penalty when absorbed by a Stability Pool, and the upfront borrowing fee equals seven days of average interest for that branch.
LQTY has a fixed total supply of 100 million tokens, confirmed by a direct read of the token contract on Ethereum. There is no inflation schedule and no minting function available to any party.
Its utility splits across the two versions:
LQTY is also available as a bridged token on Arbitrum, though the canonical contract lives on Ethereum.
Immutability is the defining feature. There are no admin keys, no multisig, no upgradeable proxies, and no governance vote that can change collateral ratios or fees, which removes an entire category of risk affecting most lending protocols at the cost of never being able to patch anything. The second distinctive choice is that V2 turned interest rates into a user set market variable rather than a governance parameter. The third is that redemptions are a permanent, always available mechanism rather than an emergency tool, giving the stablecoin a hard arbitrage floor without reserves held offchain.
Compared with governance managed collateralized stablecoins, Liquity gives up flexibility for predictability: it cannot onboard new collateral or vote in emergency measures, but it also cannot be captured or rewritten. Compared with fiat backed and Treasury backed stablecoins, both LUSD and BOLD are backed only by onchain crypto collateral, which removes counterparty risk and adds collateral volatility risk.
Compared with general purpose money markets, Liquity does one thing: overcollateralized borrowing against ether and liquid staked ether. The Friendly Fork program extends that design outward, with independent teams deploying the V2 codebase and their own stablecoins on other chains, including Felix on HyperEVM, Quill on Scroll, and Nerite on Arbitrum.
Security comes from the design rather than from an operator. Core contracts are immutable and were audited repeatedly, including a five week public audit contest before the V2 relaunch. Liquidations are funded by Stability Pool depositors who agreed in advance to absorb debt in exchange for discounted collateral, so the system does not depend on external auction bidders arriving in time. Price feeds are the main external dependency, and V2 includes branch shutdown logic allowing urgent redemptions if a branch becomes unsafe or its oracle fails.
Liquity is the clearest working example of a stablecoin that answers to nobody: no treasury, no committee, no upgrade key, and no offchain reserve. That position is rare in a market where most stablecoins depend either on a company or on an active governance process, and it is why the codebase keeps getting forked. V2's user set interest rate market is also a genuinely new idea, replacing governance votes with a continuous price on redemption risk.
LQTY trades on centralized exchanges and on Ethereum decentralized exchanges, where it has long standing liquidity. The canonical token is an ERC-20 on Ethereum, with a bridged version on Arbitrum. Availability and pairs vary by jurisdiction.
LQTY is often available on:
Pairs are commonly quoted against USDT, USDC, and ETH where supported.
After purchase, LQTY can be held on an exchange, which is custodial, in any Ethereum compatible non custodial wallet, behind a hardware wallet paired with a compatible interface, or staked through the official Liquity interface to earn V1 fees and direct V2 incentives. Check whether you hold the Ethereum or the Arbitrum version before sending.
You can compare LQTY with related assets on Coinrithm:
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Use a crypto paper trading account to demo trade Liquity with real-time prices, AI trade feedback, and trading leagues. Test strategies, learn risk management, and build confidence before trading Liquity with real money.
Read the complete paper trading guideThe current price of Liquity is $0.1974 with a 2.84% change in the last 24 hours.
The daily trading volume is $437,533 representing a 180.84% change in the past 24 hours.
The market capitalization of Liquity is $19,507,869, ranking #532 globally.
The fully diluted valuation (FDV) of Liquity is $19,736,497, calculated assuming the maximum supply of 100,000,000 LQTY is in circulation.
Circulating: 98,841,599. Total: 100,000,000. Max: 100,000,000.
In the last 24 hours, Liquity traded between a low of $0.1890 and a high of $0.1981.
LQTY/USDTTether USDT0.1974 USDT
