LUSD is Liquity V1's decentralized US-dollar stablecoin, issued against ETH collateral under an immutable, interest-free borrowing model.
| Symbol | LUSD |
| Peg | USD |
| Backing | Crypto backed |
| Status | Active |
| Launched | 2021 |
| Networks | L1 EVM Ethereum |
| Specifications | Backing Overcollateralized by ETH, with a minimum collateral ratio of 110%. Redemption Redeemable for ETH at face value at any time, subject to a redemption fee. KYC required No |
| Use cases | DeFi collateral, Trading |
| Mint and redeem | Minted by borrowing against ETH in a Trove; burned on repayment. Redeemable for ETH at face value. |
| Chain | Supply |
|---|---|
| Ethereum | $26M |
| Chain | Address |
|---|---|
| Arbitrum One | 0x93b346b6bc2548da6a1e7d98e9a421b42541425b |
| Base | 0x368181499736d0c0cc614dbb145e2ec1ac86b8c6 |
| Ethereum | 0x5f98805a4e8be255a32880fdec7f6728c6568ba0 |
| Optimistic Ethereum | 0xc40f949f8a4e094d1b49a23ea9241d289b7b2819 |
| Polygon PoS | 0x23001f892c0c82b79303edc9b9033cd190bb21c7 |
| zkSync | 0x503234f203fc7eb888eec8513210612a43cf6115 |
LUSD is the US-dollar stablecoin of Liquity V1. It is minted by locking ETH as collateral and borrowing against it, with no central issuer and no protocol governance.
Borrowers open Troves, deposit ETH, and draw LUSD at a minimum collateral ratio of 110%, paying a one-time borrowing fee rather than ongoing interest. A Stability Pool absorbs liquidations.
LUSD is backed by ETH collateral held in the protocol's smart contracts, not by fiat reserves, so there is no fiat reserve attestation.
LUSD is issued on Ethereum.
LUSD is Liquity V1's decentralized US-dollar stablecoin, issued against ETH collateral under an immutable, interest-free borrowing model.
Overcollateralized by ETH, with a minimum collateral ratio of 110%.
LUSD is recorded on 1 network, Ethereum.
LUSD has a market capitalization of $26M as of 11 October 2026.