# 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)