https://www.liquity.org/blog/a-bold-stance
TL;DR: a genuinely decentralized stablecoin has three features

1️⃣ Trustless collateral only
The ideal collateral asset is non-volatile and highly liquid. USDT and USDC initially come to mind, but they are non-transparent and censorable. The assets that best match the ideal collateral are ETH and time-tested LSTs

2️⃣ No centralized counterparties
- Offchain dependencies reduce transparency, predictability, and make you susceptible to regulatory overstep.
- Most DAOs struggle with power concentration, voter apathy, increased vulnerability to hacks, and opaque decision-making.
- The ideal governance is a protocol governed solely by the law of code

3️⃣ Immutability
Immutable contracts provide censorship resistance, predictability, and trustworthy systems for other builders to build on top of

@liquityprotocol V1 and LUSD achieved the highest scores on bluechip & @defiscan and will continue with V2 and BOLD

Be $BOLD • The best way to borrow with (staked) ETH • liquity.org

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