BOLD is a USD-pegged stablecoin that is fully redeemable and issued by the Liquity Protocol. It plays a crucial role within the Liquity ecosystem, where it facilitates loan payouts to users. This stablecoin allows borrowers to set their own interest rates and secure loans using ETH, wstETH, and rETH as collateral. To ensure the stability and security of these loans, borrowers must maintain a minimum collateral ratio of 110%. BOLD is supported by a Stability Pool that contains BOLD tokens and relies on the collective backing of fellow borrowers, who act as guarantors in case of defaults. This structure promotes a secure lending environment while providing users with flexible borrowing options. Overall, BOLD serves as an essential financial tool within the Liquity ecosystem, enabling participants to access liquidity while maintaining a stable value.