The Future,
Written Down
Quill is designed to offer users the blend of stability and versatility that stablecoins have always promised.
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Your Questions,
Answered.
Quill is a decentralized and over-collateralized stablecoin protocol operating on the zK-Rollup-based Scroll network and governed with its native token QUILL. It is forked from Liquity V2 and empowers users to mint the USDQ stablecoin by collateralizing assets such as wstETH. This mechanism allows users to access liquidity while maintaining their exposure to the collateral.
Quill provides flexible, market-driven stablecoin loans with variable interest rates, allowing borrowers to tailor their loan settings to match their risk tolerance. Through its innovative Trove system, Quill enables borrowers to delegate borrowing power and management tasks to trusted third parties, streamlining access to efficient liquidity without the complications or constraints typical of traditional banking. In essence, Quill empowers users to unlock instant liquidity while maintaining their exposure to market movements, offering a seamless, decentralized lending experience.
You can learn more about the complexities here.
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As a non-custodial and decentralized system, all the ETH, or other collateral, sent to the protocol will be held and managed algorithmically without the interference of any person or legal entity. That means your funds will only be subject to the rules in the smart contract code, which have been thoroughly audited.
If you are a borrower and your collateral is liquidated you will still keep your borrowed USDQ but your collateral will be lost.
QUILL and USDQ are Quill’s tokens
USDQ is the USD-pegged stablecoin used within the Quill protocol, designed to facilitate loans secured by Ether (ETH) collateral. Users can borrow USDQ against Ether assets with a unique interest model. Importantly, USDQ can be redeemed at any time for the underlying collateral at face value, ensuring that it retains its peg to the US dollar.
QUILL is central to Quill’s governance and liquidity model, allowing users to participate in decision-making and earn rewards for contributing to the protocol.