Liquity's BOLD stablecoin receives A- rating from Bluechip with perfect scores in Management, Decentralization, and Governance

Bluechip (independent stablecoin rating agency) just published their rating for $BOLD, Liquity Protocol's new stablecoin.

Thought this sub might find it interesting given the ongoing discussions about decentralized stables and Ethereum's role in the stablecoin ecosystem.

Key Findings:

• Overall Rating: A- (outranks USDC at B+ and DAI at B+)
• Perfect 1.0 Scores:
  • Management (immutable protocol, no admin keys)
  • Decentralization (no single point of control)
  • Governance (no governance - protocol cannot be altered)
• Stability Score: 0.88

What Makes BOLD Different: BOLD is the only A- rated stablecoin backed 100% by crypto-native collateral:

• 100% Ethereum-native collateral (ETH, wstETH, rETH)
• >200% overcollateralized (currently 291%)
• Immutable smart contracts (cannot be upgraded or changed)
• No blacklist function (cannot be frozen)
• Always redeemable at $1 for underlying collateral

For comparison, PYUSD also has an A- rating but is backed by bank deposits and US Treasuries.

Context: BOLD is built by the team behind LUSD (Liquity V1), which has been live for 4+ years with $5B peak TVL and zero exploits. Given how much this sub discusses Ethereum's role as the stablecoin settlement layer (especially with $18.8T settled on Ethereum in 2025), figured this was relevant.

Full Bluechip Report: https://bluechip.org/en

More on Liquity Protocol: https://x.com/LiquityProtocol/status/2015798256186360000

Happy to answer questions about the protocol or rating methodology.