Decentralizing the Dollar on Ethereum | Michael & Colin
Episode publishedPodcast: 0xResearch0xResearch
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It's it's a funny one. It's, it's kind of like insurance. You don't need it until you do. We we saw USDC depegged. Why did de depegged? Because there's dollars in a bank account, and people woke up one morning and realized that the bank that those bank dollars were in no longer existed.
Nothing set on 0x Research is the recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Boccaccio, Ryan, and our guests may hold positions in the company's funds or projects discussed. What's up, guys? Welcome back to another episode of 0x Research. Today, I'm joined by Luke from the BlockWorks research team and Michael and Colin from Liquity, decentralized stable credit protocol. Colin, Michael, thanks for joining. Thanks
for having us. Before
we get started, do you guys wanna tell us a little bit about what Liquity is and what you guys are building over there?
Sure. So for those that don't know, Liquity is a GDP based borrowing solution with a stable coin called LUSD. It has been around for 3 years. People have issued more than 4,600,000,000 in loans. It's one of the most forked protocols on Ethereum, defi protocols. Yeah. And it's running. It's immutable. It's running for 3 years without any problems so far. So it's really one of the few truly decentralized protocols. And what does it do? So what can the u users do with liquidity? If people hold ETH and only ETH, they can borrow against it. So a user would deposit ETH into liquidity, then they can
No. I think it was beautifully said. So, yeah, very much focused on decentralization. It's it's very much in our ethos. We do, what we can wherever we can to, reduce any points of centralization, and we kind of run the gamut on that, including the the fact that we don't run any of our own front ends, access our our application. Everything is open source and put out so people can run themselves. It's something we're very passionate about, and we think will help push the space forward.
Interesting. I definitely wanna get more into that, focus on decentralization later. But before we get into that, maybe you can explain what Liquidity v one was or is, given that it's still running.
Yes. So you mean v 1? I mean, I hope I explained that a bit by saying it it's it's a borrowing solution, or are you rather v 2?
I guess I more so mean what is changing from v 1 to v 2 is a better way to put it. So,
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