> For the complete documentation index, see [llms.txt](https://help.defisaver.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://help.defisaver.com/protocols/liquity-v2/intro-to-bold.md).

# Intro to BOLD

BOLD is Liquity’s decentralized native stablecoin with the following key features:

* Redeemable at any point, making it as liquid as the protocol’s underlying collateral
* Free from real-world assets and off-chain risks
* 100% of the generated yield circles back to Stability Pool depositors and liquidity providers, where the yield is in BOLD and ETH, with no reliance on emissions or governance tokens
* Yield generation through forks and **sBOLD**\
  **(**sBOLD is a yield-bearing token that compounds ETH rewards back into BOLD from Stability Pools)