Bitcoin L1 Stablecoin and Credit Protocol
Access dollar liquidity backed by your BTC while staying fully self-custodied on Layer 1.
Launch App
Access dollar liquidity backed by your BTC while staying fully self-custodied on Layer 1.
Launch App
Borrow UNIT using BTC as collateral.
Deposit as much BTC as you'd like to leverage within one of our vaults, and borrow UNIT against the vaulted BTC collateral.
Set your collateralization ratio based on your risk preference—whether you're aiming for a risky, moderate, or safe (healthy) level for borrowing UNIT.
Use your borrowed UNIT anywhere within the BTC-Fi ecosystem. Repay your vault to unlock and withdraw your BTC collateral.
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.
Learn more about Ducat's key functionalities below.
Repay Bitcoin-backed loans with security and decentralization, powered by the DUCAT token using Bitcoin's technology.
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(),
};
// 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(),
];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.
Securely monitor, borrow, and manage your assets with intuitive tools designed for seamless control over your vault and liquidation processes.
Rebuild and audit the entire protocol with on-chain data—a revolutionary upgrade to e-cash systems.
DUCAT leverages Bitcoin's Layer 1 for security, decentralization, and resilience.
Borrowing and liquidation mechanisms maintain DUCAT's efficiency and long-term protocol sustainability.
Any user can always mint or redeem their BTC from a DUCAT vault, so long as the user's UNIT loan has sufficient collateral.
Profit by recapitalizing a distressed vault, buying that vault's BTC at a discount while keeping UNIT's peg stable.
This is fantastic. Have been thinking about how to do this for a while. Would love to chat.
Exiting times we need a stablecoin on runes so bad lfg hope you guys really mean it
we LOVE new protocols on Bitcoin 🫡
The Next Alpha..
Expecting a Super launch
Ahh this is exciting
Incredible work
L1 native stablecoin is an essential piece to unlock Bitcoin Defi! 🌊
Congrats on being the first mover 🫡
This thing could be huge and what the bitcoiner around the globe want.. I'm so in 🥳
Congrats team! LG!!!
Excited to see what's to come
this is amazing, when launch 👀
Ducat is the alpha!
Too bullish. Anyone who mines with any sort of scale knows exactly what this feels like
Congrats!
Super bullish on you guys.
Being a Runes token means it's already compatible with Leather 🖤 Congrats on the launch, we can't wait to learn more!
Ducat is a decentralised non-custodial Bitcoin-native governance token in the form of Bitcoin Runes. Governance will be enabled via zero-knowledge proof circuits memorialised on Bitcoin ordinal inscriptions.
Like any DeFi protocol, there are risks including smart contract risk and liquidation risk if your collateral ratio falls below the minimum threshold.
UNIT is a dollar-pegged stablecoin backed by Bitcoin and issued natively on the Bitcoin L1.
Borrowing UNIT allows you to access dollar liquidity without selling your BTC. You maintain your Bitcoin exposure while unlocking capital.
When your health factor drops, your vault approaches liquidation. If it falls below 135%, your vault can be liquidated.
Your liquidation price is the BTC price at which your vault's collateralization falls below the minimum threshold.
Maintain a healthy collateralization ratio by depositing more BTC collateral or repaying some of your UNIT debt.
Connect with us in our Discord community and let us know what you need.
Ask us on Discord