Liquid Loans wallet

What is Liquid Loans (LOAN)?

LOAN belongs to Liquid Loans, a borrowing protocol on PulseChain built on the Liquity design: you lock PLS as collateral and mint USDL, a stablecoin, against it, with liquidations handled by a stability pool rather than by auctions. The protocol is deployed without admin keys or upgrade paths, which is unusual and is part of the point - the contracts that exist are the ones that will keep existing.

For a holder the first thing to get straight is which of the three tokens you are dealing with. PLS is the collateral and also the gas coin of PulseChain. USDL is the stablecoin the protocol issues against that collateral. LOAN is the protocol's own token, tied to the system's fee and stability mechanics, and it is not a claim on anybody's collateral or a stablecoin of any kind. They are routinely confused with each other.

The second is that everything here is native to PulseChain. LOAN is a PulseChain token, sending it costs PLS, and there is no Ethereum version to fall back on even though the chain speaks the same address format. Supported networks in Tangem (1): Pulsechain.

Most people who hold LOAN hold it for a long time and rarely sign with it. Tangem generates the private key inside the card's secure element, where it stays, and a second identical card written during setup is the whole backup - a seed phrase is available if you want one, but the spare card already covers the case of the first one being lost. For a position you intend to leave alone for years on a chain of its own, that is the arrangement worth having.