well..... there is no independent supply of L-BTC, there is no "mining" in Liquid. Its not like its a chain with some free floating supply of coins (ETH, etc). L-BTC is only created when BTC is "pegged in". The supply of L-BTC is therefore auditable and can be compared 1-for-1 against the BTC peg-ins

So in order for there to be anything on Liquid chain to transact, there must be L-BTC present. So as a chain it is wholly dependent on BTC peg-ins.

In that specific aspect it is very much like LN