$LQTY is the native governance token of Liquity, a decentralized protocol that provides interest-free loans against Ethereum (ETH) collateral. Liquity enables users to borrow LUSD, a stablecoin pegged to the U.S. dollar, without the need for traditional credit checks or interest payments. Instead, users provide ETH as collateral to mint LUSD and can use it for various decentralized finance activities.
The $LQTY token is used for governance within the Liquity protocol, allowing token holders to vote on protocol upgrades and other important decisions. Additionally, $LQTY is also used in the protocol's staking mechanism, where users can earn rewards by providing liquidity to the system.
If you're referring to recent performance or a particular development