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Liquity integrates with Forta to monitor protocol health and stability

Article by Forta Network Apr. 15, 2022

Liquity is a decentralized borrowing protocol that allows you to draw 0% interest loans against Ether used as collateral. Loans are paid out in LUSD – a USD pegged stablecoin, and need to maintain a minimum collateral ratio of only 110%.

In addition to the collateral, the loans are secured by a stability pool containing LUSD and by fellow borrowers collectively acting as guarantors of last resort.

Liquity has a long list of formally defined system invariants that should always hold true, which have been audited and thoroughly tested. Now they are progressively adding them to Forta so they can receive immediate notification in the unlikely event of an unexpected system behavior. This enables them to swiftly assess the impact of the finding and to move fast if any action is required.

“We were surprised by the smooth UX when using the Forta platform, which adds to the peace of mind of having efficient and decentralized monitoring with optional privacy. We also want to thank Nethermind team for doing a great job developing our first bots and being so responsive,” said Bingen, a software engineer at Liquity. 

While Forta alerts are public by default, teams like Liquity have taken additional steps to keep their alerts private. This is a common practice for users that want the ability to investigate and react to suspicious alerts internally before their users and the broader community are aware. 

You can find and subscribe to Liquity’s alerts and more using app.forta.network.


About Forta

Incubated by OpenZeppelin, Forta is the first decentralized network delivering real-time intelligence on the security and health of Web3 core infrastructure and dApps. Protocols, DAOs, investors and individuals can use Forta to receive real time insights on security, financial, operational and governance related events on L1s, L2s and sidechains. 

Learn more about Forta by visiting forta.org or reading the documentation at docs.forta.network

About Liquity

Liquity is a decentralized borrowing protocol that allows you to draw interest-free loans against Ether used as collateral. Loans are paid out in LUSD (a USD pegged stablecoin) and need to maintain a minimum collateral ratio of 110%.

Liquity as a protocol is non-custodial, immutable and governance-free. Learn more about Liquity by visiting https://www.liquity.org/

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