Title: Liquity Proposal

Champions: Yves

Date: Aug 8 2021

Summary

Build a BanklessDAO frontend for the Liquity-interest-free loan platform.

Bankless will earn LQTY rewards distributed by the protocol, sharing part of the LQTY tokens generated by the BanklessDAO liquity platform

BACKGROUND

Liquity allows anyone to take out an interest-free loan against their ETH in the protocol's native crypto dollar, LUSD. Instead of paying interest, you pay a one-time borrowing or redemption fee when you open or close your position. Additionally, Liquity only requires a minimum collateral ratio of 110%, giving better capital efficiency and more downside protection during volatile markets

This proposal is intended to:

MISSION & VALUES ALIGNMENT

The mission of Bankless and BanklessDAO to help 1B of people to be "bankless" translates into both the educational part and making the tools available to people. Implementing Liquity, accompanied by appropriate supporting documentation, can certainly help this mission.

SPECIFICATION

The Liquity project involves the development of following parts: