Introduction To LiquityBSC
Liquity
The Liquity is a decentralized borrowing protocol developed by the Liquity AG team based on the Ethereum blockchain, and was launched on April 5, 2021 to great success. The TVL of the Liquity has reached about US$3 billion at present.
LiquityBSC
LiquityBSC is fork of Liquity Protocol on Binance Smart Chain. Our aim is to securely migrate the Liquity protocol to BSC, and we are committed to present Liquity’s vision of providing a decentralized borrowing protocol with Interest-free loans,High capital efficiency, and censorship-resistant stablecoins.
We hope it will also achieve great success and gain user acceptance in the BSC network.
Principles of Fork
We will uphold the fundamental principles of the Liquity protocol and maintain the security and integrity of its code to the greatest possible extent. We will also completely preserve Liquity unique operating model and some of their basic ideology.
What did we modify?
1.Collateral and Token Names
- ETH → BNB
- LUSD → FUSD
- LQTY→ LBSC
2. Minimum debt
- 1800+ 200 LUSD (Liquidation reserve) → 180+20 FUSD (Liquidation reserve)
3. Tokenomics
- We’ll release it soon.
Except for the factors mentioned above, we did not modify any code, as we hope to present a true Liquity protocol in the BSC network.
If you’re interested in our code, view our Github here:
Liquity-BSC repo: https://github.com/LiquityBSC/LiquityCore
LBSC
LBSC has the same functionalities as LQTY in Liquity. LBSC is the secondary token issued by the Liquity-BSC.
It captures the fee revenue that is generated by the system and incentivizes early adopters and Frontend Operators.
FUSD Stable Coin
FUSD will be minted when users deposit collateral (BNB) and open troves. The mechanism for its price stability is described in Liquity’s doc.
Stability Pool Rewards
Users can deposit FUSD to Stability Pool to get LBSC rewards as incentives for being early adopters.【Distribution method is the same as liquity.】
Liquidity Provider Rewards
User can earn LBSC by staking FUSD:BNB tokens and will be distributed by the protocol.【Distribution method is the same as liquity.】
Frontend
Frontend Operators provide a web interface to the end-user enabling them to interact with the Liquity protocol. For that service, they will be rewarded with a share of the tokens their users generate.
we do not provide our own official frontend for Liquity-BSC. It will also instead be provided by the third-party frontend operators.
Launch
LiquityBSC will launch in early May 2021. Please follow our Twitter and Telegram to know when the launch goes live.
We have deployed LiquityBSC on BSCtesnet, welcome to test it.
