# EMBR Official Documentation

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**EMBR is an iteration of** [**Liquity**](https://www.liquity.org/)**, one of the best decentralized Stable Coins released in DeFi.**
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EMBR is a decentralized borrowing protocol built on Avalanche that allows you to draw interest-free loans against BTC.b used as collateral. Loans are paid out in ESC (a USD pegged stablecoin) and need to maintain a minimum collateral ratio of 110%.

In addition to the collateral, the loans are secured by a Stability Pool containing ESC and by fellow borrowers collectively acting as guarantors of last resort. Learn more about these mechanisms in our documentation. 

EMBR as a protocol is non-custodial, immutable, and governance-free.