Watch Intro Video
Watch Intro Video
Watch Intro Video
Watch Intro Video
Watch Intro Video
The first decentralised stablecoin, native to the Bitcoin L1.
Watch Intro Video
Watch Intro Video
Watch Intro Video
Watch Intro Video
Watch Intro Video
Borrow UNIT instantly using
your BTC as collateral
The first decentralised stablecoin, native to the Bitcoin L1.
Watch Intro Video
Watch Intro Video
Watch Intro Video
Watch Intro Video
Watch Intro Video
Borrow UNIT instantly using
your BTC as collateral
The first decentralised stablecoin, native to the Bitcoin L1.
MEET DUCAT
MEET DUCAT
MEET DUCAT
How Ducat Works
Borrow UNIT using BTC as collateral.
Deposit BTC
Deposit BTC
Deposit BTC
Deposit as much BTC as you'd like to leverage within one of our vaults, and borrow UNIT against the vaulted BTC collateral.
Non-Custodial
Full Control of Funds
Risk-Based Borrowing
Risk-Based Borrowing
Risk-Based Borrowing
Set your collateralization ratio based on your risk preference—whether you’re aiming for a risky, moderate, or safe (healthy) level for borrowing UNIT.
Flexible Risk Preference
On-the-Spot Collateral Check
Borrow UNIT
Borrow UNIT
Borrow UNIT
Use your borrowed UNIT anywhere within the BTC-Fi ecosystem. Repay your vault to unlock and withdraw your BTC collateral.
Borrow, Spend, Repay. Easy.
Borrow Up To 62.5% of your vault BTC Collateral
Manage Your Risk
Manage Your Risk
Your Vault Homepage helps you track your leverage over time with the Vault Health factor, based on your own deposit & withdraw activity, and fluctuations in Bitcoin's price.
Real-Time BTC Price Updates
Dynamic Risk Indicator
HIGHLIGHTS
HIGHLIGHTS
HIGHLIGHTS
Exploring the Protocol
Learn more about Ducat's key functionalities below.
Learn more about Ducat's key functionalities below.
Ducat Protocol
Repay Bitcoin-backed loans with security and decentralization, powered by the DUCAT token using Bitcoin’s technology.
Ducat Protocol
Repay Bitcoin-backed loans with security and decentralization, powered by the DUCAT token using Bitcoin’s technology.
Ducat Protocol
Repay Bitcoin-backed loans with security and decentralization, powered by the DUCAT token using Bitcoin’s technology.
Ducat Protocol
Repay Bitcoin-backed loans with security and decentralization, powered by the DUCAT token using Bitcoin’s technology.
UNIT
The UNIT token is the first BTC-L1-native decentralised stablecoin, which you can borrow using your BTC as collateral.
UNIT
The UNIT token is the first BTC-L1-native decentralised stablecoin, which you can borrow using your BTC as collateral.
UNIT
The UNIT token is the first BTC-L1-native decentralised stablecoin, which you can borrow using your BTC as collateral.
UNIT
The UNIT token is the first BTC-L1-native decentralised stablecoin, which you can borrow using your BTC as collateral.
let acct_utxo: AcctUtxo = AcctUtxo {
txid: satpoint.txid,
vout: satpoint.vout,
value: account_inscription.value,
script:hex::encode(data:&output.scriptpubkey),
};
let account_input: TxIn = TxIn {
previous_output: OutPoint {
txid: open_vault_req.vault_input.txid,
vout: acct_utxo.vout,
};
script_sig: ScriptBuf::new(),
sequence: Sequence::from_consensus(4294967295),
witness: Witness::new(),
};
let vault_connector_in: TxIn = TxIn {
previous_output: OutPoint {
txid: open_vault_req.vault_input.txid,
vout: open_vault_req.vault_input.vout,
};
script_sig: ScriptBuf::new(),
sequence: Sequence::from_consensus(4294967295),
witness,
};
// Create the vault update scripts.let create_vault_update_script: Vec = vec! [
Builder::new()
.push_slice(vault_pub_key)
.push_opcode(OP_CHECKSIGVERIFY)
.push_slice(guard_pub_key)
.push_opcode(OP_CHECKSIG)
.into_script(),
Builder::new()
.push_slice(guard_pub_key)
.push_opcode(OP_CHECKSIG)
.into_script(),
];
let vault_utxo_output: TxOut = TxOut {
value: withdraw_vault_req.vault_input.value
- (withdraw_vault_req.change_amount
+ VAULT_WITHDRAW * withdraw_vault_req.fee rate as u64),
script_pubkey: Address::p2tr(
&secp,
internal_key,
taproot_spend_info.merkle_root(),
bdk::bitcoin::Network::Regtest,
) Address
.script_pubkey(),
};
let address: Address = Address::from_str(&withdraw_vault_req.change_address)?;
let change_output: TxOut = TxOut {
value: withdraw_vault_req.change_amount,
script_pubkey: address.payload.script_pubkey(),
};
let acct_utxo: AcctUtxo = AcctUtxo {
txid: satpoint.txid,
vout: satpoint.vout,
value: account_inscription.value,
script:hex::encode(data:&output.scriptpubkey),
};
let account_input: TxIn = TxIn {
previous_output: OutPoint {
txid: open_vault_req.vault_input.txid,
vout: acct_utxo.vout,
};
script_sig: ScriptBuf::new(),
sequence: Sequence::from_consensus(4294967295),
witness: Witness::new(),
};
let vault_connector_in: TxIn = TxIn {
previous_output: OutPoint {
txid: open_vault_req.vault_input.txid,
vout: open_vault_req.vault_input.vout,
};
script_sig: ScriptBuf::new(),
sequence: Sequence::from_consensus(4294967295),
witness,
};
// Create the vault update scripts.let create_vault_update_script: Vec = vec! [
Builder::new()
.push_slice(vault_pub_key)
.push_opcode(OP_CHECKSIGVERIFY)
.push_slice(guard_pub_key)
.push_opcode(OP_CHECKSIG)
.into_script(),
Builder::new()
.push_slice(guard_pub_key)
.push_opcode(OP_CHECKSIG)
.into_script(),
];
let vault_utxo_output: TxOut = TxOut {
value: withdraw_vault_req.vault_input.value
- (withdraw_vault_req.change_amount
+ VAULT_WITHDRAW * withdraw_vault_req.fee rate as u64),
script_pubkey: Address::p2tr(
&secp,
internal_key,
taproot_spend_info.merkle_root(),
bdk::bitcoin::Network::Regtest,
) Address
.script_pubkey(),
};
let address: Address = Address::from_str(&withdraw_vault_req.change_address)?;
let change_output: TxOut = TxOut {
value: withdraw_vault_req.change_amount,
script_pubkey: address.payload.script_pubkey(),
};
Secure Bitcoin Execution
The Ducat SDK builds BTC transactions locally according to the protocol specification which includes a series of spending conditions that allow your BTC to be permissionlessly redeemed so long as the remaining UNIT in the vault is collateralized adequately.
The Ducat SDK builds BTC transactions locally according to the protocol specification which includes a series of spending conditions that allow your BTC to be permissionlessly redeemed so long as the remaining UNIT in the vault is collateralized adequately.
Comprehensive Dashboard
Securely monitor, borrow, and manage your assets with intuitive tools designed for seamless control over your vault and liquidation processes.
Comprehensive Dashboard
Securely monitor, borrow, and manage your assets with intuitive tools designed for seamless control over your vault and liquidation processes.
Comprehensive Dashboard
Securely monitor, borrow, and manage your assets with intuitive tools designed for seamless control over your vault and liquidation processes.
Comprehensive Dashboard
Securely monitor, borrow, and manage your assets with intuitive tools designed for seamless control over your vault and liquidation processes.
Transparent
Rebuild and audit the entire protocol with on-chain data—a revolutionary upgrade to e-cash systems.
Rebuild and audit the entire protocol with on-chain data—a revolutionary upgrade to e-cash systems.
BTC L1 Security
DUCAT leverages Bitcoin’s Layer 1 for security, decentralization, and resilience.
DUCAT leverages Bitcoin’s Layer 1 for security, decentralization, and resilience.
Self-Sustaining
Borrowing and liquidation mechanisms maintain DUCAT’s efficiency and long-term protocol sustainability.
Borrowing and liquidation mechanisms maintain DUCAT’s efficiency and long-term protocol sustainability.
Non-Custodial
Any user can always mint or redeem their BTC from a DUCAT vault, so long as the user's UNIT loan has sufficient collateral.
Any user can always mint or redeem their BTC from a DUCAT vault, so long as the user's UNIT loan has sufficient collateral.
UNIT, the First BTC-Collateralised Stablecoin Native to the Bitcoin L1.
UNIT, the First BTC-Collateralised Stablecoin Native to the Bitcoin L1.
UNIT, the First BTC-Collateralised Stablecoin Native to the Bitcoin L1.
UNIT, the First BTC-Collateralised Stablecoin Native to the Bitcoin L1.
Self-Sustaining
Borrowing and liquidation mechanisms maintain DUCAT’s efficiency and long-term protocol sustainability.
Non-Custodial
Any user can always mint or redeem their BTC from a DUCAT vault, so long as the user's UNIT loan has sufficient collateral.
LIQUIDATOR
LIQUIDATOR
LIQUIDATOR
Earning Yield as a Vault Liquidator
Profit by recapitalizing a distressed vault, buying that vault's BTC at a discount while keeping UNIT's peg stable.
Profit by recapitalizing a distressed vault, buying that vault's BTC at a discount while keeping UNIT's peg stable.
Liquidated Vaults
When a vault's collateralization level falls below 135%, the protocol sells the vault to the first user willing to recapitalize that vault's BTC deficit.
Buy BTC at a discount to keep UNIT healthy
Maximize your profit
Liquidated Vaults
When a vault's collateralization level falls below 135%, the protocol sells the vault to the first user willing to recapitalize that vault's BTC deficit.
Buy BTC at a discount to keep UNIT healthy
Maximize your profit
Liquidated Vaults
When a vault's collateralization level falls below 135%, the protocol sells the vault to the first user willing to recapitalize that vault's BTC deficit.
Buy BTC at a discount to keep UNIT healthy
Maximize your profit
Liquidated Vaults
When a vault's collateralization level falls below 135%, the protocol sells the vault to the first user willing to recapitalize that vault's BTC deficit.
Buy BTC at a discount to keep UNIT healthy
Maximize your profit
TESTIMONIALS
TESTIMONIALS
TESTIMONIALS
What’s Being Said About Us
₿ Ӿ ◉ ▣
@buxord
This is fantastic. Have been thinking about how to do this for a while. Would love to chat.
Elias (🐈⬛, 🛵)
@EliasLululu
Exiting times we need a stablecoin on runes so bad lfg hope you guys really mean it
Compos Protocol
@composprotocol
we LOVE new protocols on Bitcoin 🫡
Bitfi Spaces ⚡ 🟧
@BitfiSpaces
The Next Alpha..
Expecting a Super launch
Nessie | BIP-420
@TheOnlyNessie
Ahh this is exciting
₿ Ӿ ◉ ▣
@buxord
This is fantastic. Have been thinking about how to do this for a while. Would love to chat.
Elias (🐈⬛, 🛵)
@EliasLululu
Exiting times we need a stablecoin on runes so bad lfg hope you guys really mean it
Compos Protocol
@composprotocol
we LOVE new protocols on Bitcoin 🫡
Bitfi Spaces ⚡ 🟧
@BitfiSpaces
The Next Alpha..
Expecting a Super launch
Nessie | BIP-420
@TheOnlyNessie
Ahh this is exciting
Bitflow
@Bitflow_Finance
Incredible work
L1 native stablecoin is an essential piece to unlock Bitcoin Defi! 🌊
Luka Grunt
@LukaGrunt
Congrats on being the first mover 🫡
Wondergod
@AsysShreas2
This thing could be huge and what the bitcoiner around the globe want.. I’m so in 🥳
Bitcoin Frontier Fund
Bitcoin Frontier Fund
Congrats team! LG!!!
Excited to see what’s to come
Zest Protocol 🍊
@ZestProtocol
this is amazing, when launch 👀
Bitflow
@Bitflow_Finance
Incredible work
L1 native stablecoin is an essential piece to unlock Bitcoin Defi! 🌊
Luka Grunt
@LukaGrunt
Congrats on being the first mover 🫡
Wondergod
@AsysShreas2
This thing could be huge and what the bitcoiner around the globe want.. I’m so in 🥳
Bitcoin Frontier Fund
Bitcoin Frontier Fund
Congrats team! LG!!!
Excited to see what’s to come
Zest Protocol 🍊
@ZestProtocol
this is amazing, when launch 👀
MAX CHADWICK
@maxchadwickk
Ducat is the alpha!
Uniquely.sats
@UniquelyNFT
Too bullish. Anyone who mines with any sort of scale knows exactly what this feels like
trevor.btc
@TO
Congrats!
Super bullish on you guys.
Leather — Bitcoin wallet
@LeatherBTC
Being a Runes token means it's already compatible with Leather 🖤 Congrats on the launch, we can't wait to learn more!
MAX CHADWICK
@maxchadwickk
Ducat is the alpha!
Uniquely.sats
@UniquelyNFT
Too bullish. Anyone who mines with any sort of scale knows exactly what this feels like
trevor.btc
@TO
Congrats!
Super bullish on you guys.
Leather — Bitcoin wallet
@LeatherBTC
Being a Runes token means it's already compatible with Leather 🖤 Congrats on the launch, we can't wait to learn more!
FAQs
FAQs
FAQs
We've Got the Answers
What is Ducat?
Does Ducat have risks?
What is the UNIT token?
Why would I borrow UNIT instead of selling my BTC?
What happens when my health factor is reduced?
What is my liquidation price?
How can I avoid getting liquidated?
What is Ducat?
Does Ducat have risks?
What is the UNIT token?
Why would I borrow UNIT instead of selling my BTC?
What happens when my health factor is reduced?
What is my liquidation price?
How can I avoid getting liquidated?
What is Ducat?
Does Ducat have risks?
What is the UNIT token?
Why would I borrow UNIT instead of selling my BTC?
What happens when my health factor is reduced?
What is my liquidation price?
How can I avoid getting liquidated?
