Liquid Loans is a decentralized lending protocol on the PulseChain blockchain that allows holders of PLS (PulseChain coin) to draw 0% interest-free loans, on a timeless repayment schedule. The protocol has two native tokens – USDL and LOAN. USDL is a fully backed, over-collateralized stablecoin that aims to always be worth one US dollar. It is used to pay out loans on the Liquid Loans protocol, and can be redeemed against PLS at face value, at any time. All USDL within the Liquid Loans ecosystem is backed by a surplus of collateral that has been locked into individual smart contracts called Vaults – differentiating it from typical fiat-backed stablecoins. Users can also earn yield by contributing to USDL's stability. More than just a stablecoin, USDL is a vital part of a broader financial ecosystem, offering a secure, stable, and user-focused financial solution.