Owning BOLD: Uses, Networks and Risks

BOLD is a USD-pegged stablecoin issued by the Liquity Protocol. It is used to pay out loans in Liquity’s borrowing system: users lock ETHm, wstETH or rETH as collateral and borrow BOLD. Borrowers can set their own interest rates, but loans must meet a minimum collateral ratio of 110%. BOLD is also described as fully redeemable, though you should check the protocol’s current redemption rules before relying on that feature.

If you are considering BOLD as a place to hold dollar-like value, remember that a peg is a target, not a guarantee that every token can always be sold for exactly one US dollar. BOLD traded at about $0.996 on 2026-11-08. Its price can move away from the peg, and access to redemption or trading depends on the protocol and the market.

BOLD is issued on Ethereum, Optimism and Base. It is not listed as the native token of any of these networks; it is a token you can hold and transfer on them. A wallet that supports the relevant network and token standard may be able to store BOLD, but wallet support and exchange deposits can vary by chain.

Before transferring, check that the sending and receiving services support BOLD on the same network. Confirm the token contract address through Liquity’s official channels rather than relying on a token name or ticker alone: unrelated tokens can use the same name. Sending to an address on an unsupported network may make recovery difficult or impossible. You will also need the network’s gas token to pay transaction fees; BOLD itself may not cover those fees.

As of 2026-11-08, BOLD’s circulating supply and total supply were both about 38.14 million tokens. No maximum supply is listed. These figures can change, so treat them as a dated snapshot rather than a permanent limit.

BOLD is issued through Liquity’s borrowing system, where users borrow against collateral. Supply can therefore change as users borrow, repay or redeem under the protocol’s rules. A token’s supply alone does not tell you whether there is enough trading liquidity for a large sale, or whether you can redeem at the time and on the terms you expect. Check the relevant network and market before moving a substantial amount.

For self-custody, use a wallet that supports the network where your BOLD is held. Keep your recovery phrase offline and private; anyone who obtains it may be able to control your tokens. Consider a hardware wallet if you hold an amount that justifies the added setup, and test a small transfer before sending a larger one.

Check the network and token address before approving transfers or interacting with Liquity. Read wallet prompts carefully, especially when a site asks you to approve a contract or grant token spending permission. Avoid sharing your recovery phrase with anyone claiming to offer support. If you leave BOLD on an exchange, you rely on that company to safeguard and return your assets, and withdrawals may be limited or temporarily unavailable.

BOLD has several risks beyond ordinary wallet mistakes. Its USD peg can weaken, and market liquidity may not be enough to let you sell quickly at the price you expect. Redemption is a protocol feature, not the same as an insured bank account or an unconditional promise of immediate cash.

Borrowers face collateral risk: a loan must maintain at least a 110% collateral ratio, and a sharp fall in collateral value can put a position at risk under protocol rules. BOLD holders also rely on the Liquity protocol’s smart contracts and on the networks they use; bugs, outages, congestion or network-specific token issues can disrupt access. The Stability Pool and other borrowers provide security mechanisms, but they do not remove these risks. Do not treat BOLD as risk-free savings.