Liquity V2 or Resupply: Which Fits Your Borrowing Plan?

Liquity V2 gives you the more direct choice if your goal is to borrow a dollar-pegged asset against ETH, wstETH or rETH. You select the loan’s interest rate and can change it later. The reported rate range is broad, from 0.5% to 1,000%, so the rate you choose affects your ongoing cost and your position in the redemption system. You still need to monitor collateral value and liquidation conditions; choosing a low rate does not remove those risks.

Resupply is a better fit if you already hold a crvUSD position in Curve Lend or a frxUSD position in Fraxlend and want to borrow reUSD against it. This adds another protocol layer to your strategy. Neither product is simply a stablecoin savings account: you take on debt, and positions can be liquidated. Compare the exact market, collateral and current borrowing terms before you decide.

Liquity V2’s main borrowing cost is the rate you set, which accrues against your BOLD debt. There is no single standard rate for every borrower, and the reported allowable range runs from 0.5% to 1,000%. You also pay Ethereum gas when opening or managing a position, and may incur costs when moving assets through other DeFi services. Check the rate, transaction preview and frontend terms before signing.

Resupply calculates its borrowing rate using the highest of three inputs: half the relevant market’s lending rate, half the sfrxUSD rate, or 2%. That makes 2% a floor in the formula, not a promise that borrowing will cost exactly 2%. Your chosen Curve Lend or Fraxlend market, Ethereum gas and any later use of reUSD can add to the overall cost. Neither protocol publishes a complete all-in fee schedule, so compare the current position details rather than relying on a headline rate alone.

Both protocols expose you to smart-contract, collateral-market and liquidation risks. Liquity V2 describes itself as immutable and on-chain, with price oracles as an external dependency. It lists two audits, but the audit names, scope and findings are not detailed in its product information. Liquity also does not run a frontend or vet the independent operators it lists, so you need to assess the interface before connecting your wallet.

Resupply also lists two audits, but its audit details are not published in the product information. More importantly, a flaw was reportedly exploited on June 26, 2025, with nearly $9.6 million siphoned. That report alone does not establish which contracts or users were affected, what was recovered, or whether vulnerable code was replaced. Before using Resupply, check its incident response and confirm the status of the specific contracts and collateral market you intend to use. An insurance pool is not a guarantee against every loss.

Liquity V2 requires an Ethereum wallet, ETH for gas, and ETH, wstETH or rETH to use as collateral. You access it through an independent community-operated frontend rather than an app run by Liquity. Liquity says it has not vetted the listed options, so check the operator and transaction details before connecting or signing. You also need to understand the selected rate and the conditions that could lead to liquidation.

Resupply requires an Ethereum wallet, ETH for gas, and the relevant collateral route: crvUSD through a Curve Lend market or frxUSD through a Fraxlend market. You then borrow reUSD against the resulting position. That process may feel more familiar if you already use those lending markets, but it is a poor starting point if you are new to collateralized borrowing. For either protocol, confirm the exact token and market in your wallet; similarly named assets are not interchangeable.

Liquity V2’s advantage is borrower control: you can choose and later adjust the interest rate on a BOLD loan. It supports three forms of collateral—ETH, wstETH and rETH—and lets you borrow without selling them. That may suit you if you understand how your chosen rate interacts with your position and are comfortable selecting an independent frontend. Its trade-off is that no Liquity-operated interface provides a single default experience.

Resupply’s distinct use is borrowing against an existing crvUSD or frxUSD lending position, allowing you to retain that lending-market exposure while using borrowed reUSD elsewhere. This is specialized rather than beginner-friendly, and putting borrowed assets into another strategy can introduce further dependencies. For most users choosing between these two, the key question is whether you want Liquity’s borrower-set rate on supported liquid-staking or ETH collateral, or Resupply’s additional borrowing layer on a lending-market position. The reported exploit makes current contract status a necessary part of that choice.