Definition: LPS stands for "long lasting phosphatase," which refers to enzymes that degrade cholesterol in the body. Definition: A type of enzyme, long-lasting phosphatases play a crucial role in maintaining healthy blood levels of lipids and cholesterol. They are found primarily in adipose tissue and help regulate lipid metabolism by breaking down triglycerides into fatty acids for storage or releasing them as glycogen (glucose), which can be used to produce energy.