After the launch of the improved contract, users can withdraw their LUSD, the protocol’s USD-pegged stablecoin, from the old contract and re-deposit it into the new one for faster rebalancing. Liquity is skyrocketing as a result – it added 36% to its value today.
This article provides information about what it is, if it is a worthwhile investment, and the best places to buy it if you decide.
Top places to buy Liquity now
As LQTY is such a new asset, it’s yet to be listed on major exchanges. You can still purchase LQTY using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy LQTY right now, follow these steps:
1. Buy ETH on a regulated exchange or broker, like eToro ›
We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.
2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask
You’ll need to create your wallet, grab your address, and send your coins there.
3. Connect your wallet to the Uniswap DEX
Head to Uniswap, and ‘connect’ your wallet to it.
4. You can now swap your ETH for LQTY
Now that you’re connected, you’ll be able to swap for 100s of coins including LQTY.
What is Liquity?
It is a decentralized borrowing protocol built on Ethereum. Ether holders can draw loans in the form of its native token LQTY with algorithmically adjusted redemption and loan issuance fees.
Liquity charges a one-time borrowing fee determined upfront as a percentage of the drawn amount. It can be as low as 0.5%.
Users can borrow the stablecoin LUSD interest-free against their ETH used as collateral. They can thus obtain an ETH-backed loan without any recurring costs.
This crypto has an advantage over other decentralized borrowing protocols in that it doesn’t charge variable interest during the loan term. These rates can change arbitrarily and unpredictably.
Should I buy it today?
Liquity can be a lucrative investment, but take the time to read at least several price predictions from leading analysts and do market research before making a commitment. Take all investment advice with a grain of salt.
LQTY price prediction
According to Tech News Leader, Liquity’s price will almost double in a year: from currently $3.19 to $6.09. In 5 years, they predict Liquity will be worth $18.49, and it will trade for $116.32 a decade from now.
Liquity on social media
The improved @LiquityProtocol B.AMM contract is LIVE!
Users can withdraw their LUSD from the old contract and re-deposit it into the new one for faster rebalancing.
Read our analysis of the last $6m liquidations and the way we improved the Backstop AMM🧐👇https://t.co/rASn4eJTbX— B.Protocol (⊟→⊞) (@bprotocoleth) February 3, 2022
The post Liquity (LQTY) price is up 36% on launch of B.AMM contract: best places to buy it appeared first on Coin Journal.
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