In November, we explored Liquity v2’s promising design in Liquity v2: Evolving Onchain Leverage. The testnet was released later that week, and LQTY price soared as the sleek interface generated lots of discussion and made the value prop of v2 start to click for people.

Liquity v2 launched on Jan-23, and saw solid early performance. Liquity v2 reached $80M TVL and 33M BOLD supply within two weeks. This isn’t spectacular, but new stablecoins have always taken time to get off the ground, with the exception of Ethena. BOLD’s start was better than most, and this is all without incentives or any of the friendly forks to help reinforce the narrative and bolster growth with rewards.

On Feb 12, Liquity dis