Piggy is a decentralized borrowing protocol that offers interest-free, efficiently collateralized loans backed by $BNB. Unlike other DeFi lenders, Piggy uses a Stability Pool mechanism instead of auctions for liquidations, allowing it to optimize capital usage and offer loans with minimum collateral ratios as low as 110%. Loans on Piggy are denominated in $PUSD, a dollar-pegged stablecoin. Users can deposit $PUSD in the Stability Pool to become Stability Providers and earn $PIGGY rewards. As Stability Providers, their $PUSD balances decrease gradually while their $BNB and $PIGGY balances increase. Stability Providers receive pro-rata shares of $BNB during liquidations and continuous $PIGGY rewards. $PIGGY is the secondary token of the protocol, which can be staked to receive a share of protocol fees and participate in the protocol's governance through a decentralized autonomous organization. With $PIGGY, users can vote on matters like Upgrades, Treasury policies, and Contributor grants in a progressive and orderly decentralization process.