Cryptocurrency Q&A
What is the Lusd backed by?
What is the Lusd backed by?
Dario
Fri Aug 09 2024
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7 answers
1209
I'm curious to know, what exactly is the Lusd cryptocurrency backed by? Is it a commodity, a basket of assets, or perhaps a stablecoin that's anchored to a fiat currency? Understanding the underlying asset or assets that support the value of Lusd would be essential in assessing its potential risks and rewards as an investment. Could you please elaborate on the specifics of its backing and how it contributes to the stability and credibility of this digital asset?
7 answers
CryptoLordess
Sun Aug 11 2024
The protocol operates on a non-custodial basis, ensuring users maintain sole ownership and control over their assets.
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CryptoTitan
Sun Aug 11 2024
It boasts an immutable nature, safeguarding against any form of tampering or interference, fostering trust within its ecosystem.
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Gianluca
Sun Aug 11 2024
Governance-free, Liquity operates independently, free from centralized decision-making bodies, fostering decentralization and autonomy.
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Alessandra
Sun Aug 11 2024
Liquity, a pioneering financial tool in the decentralized realm, embodies a novel borrowing paradigm.
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CherryBlossomKiss
Sun Aug 11 2024
To access its services, users are required to pay an issuance fee, a necessary step to unlock the benefits of its innovative lending model.
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