Key properties include
Trustless Asset Control
Users maintain full control of their BTC throughout the process. BTU cannot transfer or use a user’s BTC without their permission, ensuring complete security and decentralization.
Permissionless Participation
Any BTC holder can participate in the BTU protocol, providing proof of their BTC balance without needing to move their assets or rely on third parties.
Higher Leverage and Liquidity
By issuing BTU, users can leverage their BTC holdings and gain access to liquidity, allowing them to participate in yield farming, staking, or other DeFi opportunities, all while keeping their Bitcoin secure.
How is works
BTU offers Bitcoin holders the opportunity to unlock liquidity without compromising their principles of decentralization and asset control.
BTCC to BTU
Deposit BTCC to obtain the stablecoin BTU. Repay BTU to reclaim the collateral BTCC. Deposit BTU to liquidateBTCC positions, acquire BTCC, then burn it. Through abridge, receive BTC.
For a more detailed explanation, we can break it down as follows: Deposit BTCC as collateral to mint the stablecoin BTU. Repay the borrowed BTU to retrieve the staked BTCC collateral. Deposit BTU to participate in liquidations of under-collateralized BTCC positions. After acquiring BTCC through liquidation, burn the BTCC tokens. Use a cross-chain bridge to redeem the burned BTCC for native BTC.
The First Bridgeless,Decentralized Stablecoin on Bitcoin
BTU introduces the first decentralized stablecoin on Bitcoin,using a Collateralized Debt Position (CDP) model that allows users to issue stablecoins directly from their BTC holdings.
BTC-Backed Stablecoin
BTU is a truly decentralized stablecoin that is fully collateralized by Bitcoin itself. By locking BTC into the BTU protocol, users can mint stablecoins without moving their assets off-chain or compromising control of their BTC.
No Bridge Required
Unlike existing solutions that rely on cross-chain bridges, BTU eliminates the need for users to move BTC across chains, keeping the entire process native to the Bitcoin network. This ensures trustless and decentralized interactions without introducing third-party risks.
Proof of BTC Without Transactions
BTU allows users to provide proof of their BTC balance without needing to move or transfer their Bitcoin. This seamless and trustless mechanism gives users control over their assets while participating in the stablecoin ecosystem.
Trustless and Decentralized CDP Model
BTU uses a decentralized CDP model to issue stablecoins. Users maintain full control of their BTC and decide when to issue or redeem BTU. The protocol cannot transfer BTC without the user’s explicit permission, ensuring that control remains in the hands of the users.
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