Alternity is a decentralized protocol built on the Ethereum blockchain, inspired by the design of the Liquity Protocol.
The protocol provide users with a stablecoin that is pegged to the Chinese Yuan, achieved by utilizing Ether as the required collateral. Loans are paid out in LCNY (a CNY pegged stablecoin) and need to maintain a minimum collateral ratio of 110%.
Alternity aims to cater to users who value diversification and seek alternatives to USD-pegged stablecoins.
As a protocol, Alternity is non-custodial, immutable, and governance-free.