Welcome to the Weekly Wrap Up, a weekly series where I go over all of the highlights in the Liquity ecosystem. This issue covers the week of 5/17–5/23.

What is Liquity? Liquity is a decentralized borrowing protocol that allows you to draw 0% interest loans against Ether used as collateral. Learn more.

System Overview

• Last week was quite dramatic! On Wednesday, 5/19, we saw the ETH price rapidly drop from ~$3,400 to ~$1,800. This caused a series of liquidations across the DeFi ecosystem, Liquity included. On 5/19 we saw around ~300 Troves liquidated and at time of writing there are ~500 active Troves remaining.
• During the liquidations last week, ~93.5M LUSD debt was offset against the Stability Pool and ~48,668 of liquidated ETH was distributed to Stability Pool depositors. Allowing Stability Pool depositors to “buy the dip”.
• Even after last week’s madness, Liquity still has 849K ETH locked — $2.08B as of 5/24.

• Last week, Liquity crossed $10M in revenue — all of which is distributed directly to LQTY holders. Since then, revenue has quickly approached $10.7M.
• Find more system stats here.

Integrations

• Users can now trade LUSD on Ethereum mobile-wallet Argent.
• Pickle Finance supercharged the LUSD Jar with DILL boosts.
• Liquity frontend, waterslide, is now running on DFINITY’s Internet Computer.
• Liquity BSC fork, Fluity, is now live. Note: Liquity and Fluity are completely separate teams and we have no oversight over the Fluity team. Users should proceed with caution as you would with any new protocol.

Content

• Telegram users: We now have an announcement channel for Liquity. Subscribe here.
• Liquity was featured in last week’s issue of Our Network. In Liquity’s section, I covered growth since launch, revenue numbers, and (of course) Liquity’s performance on 5/19.
• After last week’s price crash, I wrote a blog post detailing how Liquity handled it’s first big stress test. Read it here.
• Community moderator, Derrick, wrote a blog post describing how to earn rewards using the LUSD 3pool on Curve. Read it here.
• Detailed break down of how Liquity’s Stability performed on 5/19 when buying the ETH dip.

Resources: Website | Twitter | Discord | Github | Reddit | Liquity 中文社區

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