> For the complete documentation index, see [llms.txt](https://pstability-1.gitbook.io/pstability-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://pstability-1.gitbook.io/pstability-docs/the-pstability-protocol.md).

# The pStability Protocol

**pStability Protocol: Decentralized Borrowing on PulseChain**\
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**pStability** is a decentralized borrowing protocol live on PulseChain. This protocol allows users to draw interest-free loans against **pDAI** used as collateral. Loans are paid out in **pSTABLE** (a USD-pegged stablecoin) and must maintain a minimum collateral ratio of 110%.

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

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

If you still have questions after browsing this documentation, please join our Telegram.

pStability is part of the growing **PulseChain ecosystem**, supporting decentralized finance and the broader crypto community. Learn more about our protocol and its features here.