The DeFi agreement to issue stablecoins without over-collateralization Lien released the FairSwap white paper on the decentralized exchange (DEX) agreement. Its design goal is to comprehensively prevent preemptive transactions (Front running). According to the white paper, Lien FairSwap is based on the “constant product market maker” (similar to Uniswap) model, and also incorporates a frequent batch auction mechanism, mainly to solve the problem of preemptive transactions, so the DEX can not only be used to trade LBT in the Lien protocol , Other DeFi protocols can also refer to this mechanism and benefit. For the stablecoin agreement Lien, Lien will split the collateral asset ETH into two separate derivatives, called SBT (solid bond token) and LBT (liquid bond token) in the system, all of which are related to the collateral ETH The risks related to the exchange rate of the fiat currency value are absorbed and assumed by LBT, so that the price of another part of SBT remains stable, and the stable currency iDOL token is generated by this part of SBT asset collateral. Unlike other stable currency collateral systems, Lien does not need to be over-collateralized. There is no need to manually adjust the parameters to maintain the target exchange rate anchor.