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Convert
Turkish lira (TRY) to Liquity (LQTY) Instantly

TRY TRY
LQTY LQTY
Buy Liquity (LQTY)

Purchase Liquity (LQTY) with Turkish lira (TRY) easily at Switchere and benefit from fast, secure transactions.

About
Liquity (LQTY)

Liquity is a decentralized borrowing protocol built on the Ethereum blockchain that offers a unique approach to DeFi lending. Its core function is to allow users to draw interest-free loans against their Ether (ETH) collateral. These loans are paid out in LUSD, a fully redeemable, USD-pegged stablecoin. A primary innovation of this digital asset protocol is its exceptional capital efficiency, requiring a minimum collateral ratio of only 110%. This design makes it one of the most accessible on-chain borrowing solutions available within the decentralized finance ecosystem, directly addressing the issue of over-collateralization common in other platforms.

The system’s architecture is rooted in true decentralization. Liquity’s smart contracts are immutable and the protocol operates without any form of governance, minimizing human intervention and creating a more predictable financial instrument. Its robust liquidation mechanism is managed algorithmically and supported by a Stability Pool, where LUSD holders can deposit their tokens to participate in liquidating under-collateralized positions, known as Troves. The native utility token, LQTY, is not a governance token. Instead, its primary function is for staking. By staking LQTY, holders earn a share of the protocol fees generated from LUSD issuance and redemptions, providing a direct revenue stream from the protocol's core operations.

Liquity (LQTY)

How to Buy Liquity (LQTY)

swipe Step-by-step guidance
card Easy credit card payments
btn Streamlined purchase process
  1. Step 1 illustration
    01

    Choose TRY to LQTY Pair

    Select your preferred payment method and enter the amount.

  2. 02

    Enter Your Liquity Wallet Address

    Provide your LQTY wallet address and proceed with the payment.

  3. 03

    Receive Your Liquity

    Complete the payment, and your LQTY will be sent to your wallet.

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Frequently asked questions

  • What does the TRY/LQTY trading pair represent in decentralized finance?

    The TRY/LQTY pair is a fiat on-ramp allowing users to purchase Liquity's governance token (LQTY) directly with Turkish Lira. This is significant for accessing the Liquity protocol, a decentralized borrowing system on Ethereum that allows users to draw interest-free loans against Ether collateral, issuing the LUSD stablecoin. Buying directly with TRY removes the need to first convert to another digital asset like BTC or ETH.

  • What are the common steps to buy LQTY with Turkish Lira on a crypto exchange?

    First, select a regulated cryptocurrency exchange that lists the TRY/LQTY pair and complete the required KYC/AML compliance. Next, deposit Turkish Lira into your account, typically via a local bank transfer (EFT/Havale). Once the funds are credited, navigate to the TRY/LQTY market, place an order on the order book, and execute the trade. For security, it's recommended to withdraw your LQTY tokens from the exchange to a personal Ethereum-compatible digital wallet.

  • What is the primary utility of the LQTY token within the Liquity protocol?

    The primary utility of LQTY is staking. Holders can stake their LQTY tokens in the Liquity protocol to earn a share of the protocol's revenue. This revenue is generated from fees paid when users borrow LUSD (issuance fee) and when they redeem LUSD for the underlying ETH collateral (redemption fee). This mechanism aligns token holders' interests with the protocol's success.

  • What are the key risks to understand before trading LQTY, specifically related to its protocol?

    Beyond market volatility, LQTY is tied to the health of the Liquity protocol. Key risks include smart contract vulnerabilities, as the protocol is code-based. Another is the liquidation mechanism; a sharp drop in Ethereum's price could trigger mass liquidations of 'Troves' (collateralized debt positions). The stability of the LUSD stablecoin also relies on the protocol's redemption mechanism and the effectiveness of the Stability Pool, which are crucial components to monitor.

  • What kind of fees are involved in the process of buying LQTY with TRY and transferring it?

    The process involves several potential fees. First, there might be a deposit fee for your TRY bank transfer, although many exchanges offer this for free. Second, the cryptocurrency exchange will charge a trading fee (maker/taker fee) for executing the TRY/LQTY trade. Finally, when you withdraw the LQTY to your digital wallet, you will pay a withdrawal fee to the exchange and a network gas fee for the blockchain transaction on the Ethereum network.
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