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.

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 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

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

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?

Still Have Questions?

Connect with us in our Discord community and let us know what you need.

Connect with us in our Discord community and let us know what you need.

Leverage your BTC today

Leverage your BTC today.

Leverage your BTC today