• bitcoinBitcoin (BTC) $ 113,717.00
  • ethereumEthereum (ETH) $ 4,366.05
  • xrpXRP (XRP) $ 3.00
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 897.19
  • solanaSolana (SOL) $ 222.55
  • usd-coinUSDC (USDC) $ 0.999757
  • staked-etherLido Staked Ether (STETH) $ 4,356.35
  • dogecoinDogecoin (DOGE) $ 0.245363
  • cardanoCardano (ADA) $ 0.886718
  • tronTRON (TRX) $ 0.339704
  • wrapped-stethWrapped stETH (WSTETH) $ 5,286.15
  • chainlinkChainlink (LINK) $ 23.59
  • wrapped-beacon-ethWrapped Beacon ETH (WBETH) $ 4,703.12
  • hyperliquidHyperliquid (HYPE) $ 54.96
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 113,775.00
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • suiSui (SUI) $ 3.58
  • figure-helocFigure Heloc (FIGR_HELOC) $ 0.991628
  • stellarStellar (XLM) $ 0.383353
  • avalanche-2Avalanche (AVAX) $ 28.65
  • wrapped-eethWrapped eETH (WEETH) $ 4,688.82
  • bitcoin-cashBitcoin Cash (BCH) $ 579.53
  • wethWETH (WETH) $ 4,363.02
  • hedera-hashgraphHedera (HBAR) $ 0.233247
  • litecoinLitecoin (LTC) $ 116.27
  • leo-tokenLEO Token (LEO) $ 9.56
  • crypto-com-chainCronos (CRO) $ 0.253788
  • the-open-networkToncoin (TON) $ 3.14
  • usdsUSDS (USDS) $ 0.999678
  • shiba-inuShiba Inu (SHIB) $ 0.000013
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 113,754.00
  • polkadotPolkadot (DOT) $ 4.19
  • whitebitWhiteBIT Coin (WBT) $ 43.16
  • uniswapUniswap (UNI) $ 9.75
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.20
  • world-liberty-financialWorld Liberty Financial (WLFI) $ 0.201058
  • ethenaEthena (ENA) $ 0.790126
  • moneroMonero (XMR) $ 268.71
  • mantleMantle (MNT) $ 1.47
  • aaveAave (AAVE) $ 303.53
  • bitget-tokenBitget Token (BGB) $ 4.92
  • pepePepe (PEPE) $ 0.000011
  • daiDai (DAI) $ 0.999511
  • okbOKB (OKB) $ 193.01
  • worldcoin-wldWorldcoin (WLD) $ 1.82
  • nearNEAR Protocol (NEAR) $ 2.70
  • memecoreMemeCore (M) $ 1.96
  • jito-staked-solJito Staked SOL (JITOSOL) $ 273.51
  • bittensorBittensor (TAO) $ 342.25
  • ondo-financeOndo (ONDO) $ 1.02
  • ethereum-classicEthereum Classic (ETC) $ 21.00
  • story-2Story (IP) $ 10.29
  • aptosAptos (APT) $ 4.47
  • myx-financeMYX Finance (MYX) $ 15.91
  • usdt0USDT0 (USDT0) $ 0.999784
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.270401
  • pi-networkPi Network (PI) $ 0.344790
  • arbitrumArbitrum (ARB) $ 0.515078
  • binance-staked-solBinance Staked SOL (BNSOL) $ 238.78
  • internet-computerInternet Computer (ICP) $ 4.92
  • binance-peg-wethBinance-Peg WETH (WETH) $ 4,364.60
  • usd1-wlfiUSD1 (USD1) $ 0.999492
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.035131
  • cosmosCosmos Hub (ATOM) $ 4.67
  • kaspaKaspa (KAS) $ 0.082507
  • kinetic-staked-hypeKinetiq Staked HYPE (KHYPE) $ 55.06
  • vechainVeChain (VET) $ 0.024453
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 5.63
  • algorandAlgorand (ALGO) $ 0.238910
  • susdssUSDS (SUSDS) $ 1.07
  • render-tokenRender (RENDER) $ 3.91
  • gatechain-tokenGate (GT) $ 16.77
  • rocket-pool-ethRocket Pool ETH (RETH) $ 4,971.31
  • pump-funPump.fun (PUMP) $ 0.005560
  • fasttokenFasttoken (FTN) $ 4.49
  • sei-networkSei (SEI) $ 0.318302
  • kucoin-sharesKuCoin (KCS) $ 14.85
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 4,591.73
  • hash-2Provenance Blockchain (HASH) $ 0.037583
  • bonkBonk (BONK) $ 0.000023
  • official-trumpOfficial Trump (TRUMP) $ 8.82
  • usdtbUSDtb (USDTB) $ 0.999489
  • skySky (SKY) $ 0.073557
  • filecoinFilecoin (FIL) $ 2.49
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.654203
  • bfusdBFUSD (BFUSD) $ 0.999894
  • falcon-financeFalcon USD (USDF) $ 0.998876
  • jupiter-exchange-solanaJupiter (JUP) $ 0.533635
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 4,589.72
  • flare-networksFlare (FLR) $ 0.022266
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 4,714.64
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 113,889.00
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 1.00
  • quant-networkQuant (QNT) $ 100.26
  • xdce-crowd-saleXDC Network (XDC) $ 0.078162
  • optimismOptimism (OP) $ 0.776516
  • tether-goldTether Gold (XAUT) $ 3,652.06
  • injective-protocolInjective (INJ) $ 13.95
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 4,613.56
  • celestiaCelestia (TIA) $ 1.76
  • spx6900SPX6900 (SPX) $ 1.42
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 253.01
  • nexoNEXO (NEXO) $ 1.29
  • mantle-staked-etherMantle Staked Ether (METH) $ 4,671.32
  • wbnbWrapped BNB (WBNB) $ 897.27
  • paypal-usdPayPal USD (PYUSD) $ 1.00
  • blockstackStacks (STX) $ 0.654476
  • fourFour (FORM) $ 3.04
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 113,602.00
  • sonic-3Sonic (S) $ 0.302151
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998014
  • lido-daoLido DAO (LDO) $ 1.24
  • curve-dao-tokenCurve DAO (CRV) $ 0.789574
  • syrupusdcsyrupUSDC (SYRUPUSDC) $ 1.12
  • immutable-xImmutable (IMX) $ 0.550805
  • pax-goldPAX Gold (PAXG) $ 3,644.42
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • aerodrome-financeAerodrome Finance (AERO) $ 1.16
  • the-graphThe Graph (GRT) $ 0.098078
  • msolMarinade Staked SOL (MSOL) $ 294.15
  • pyth-networkPyth Network (PYTH) $ 0.173008
  • super-oethSuper OETH (SUPEROETH) $ 4,362.34
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 113,537.00
  • flokiFLOKI (FLOKI) $ 0.000097
  • raydiumRaydium (RAY) $ 3.45
  • kaiaKaia (KAIA) $ 0.157071
  • conflux-tokenConflux (CFX) $ 0.175878
  • dogwifcoindogwifhat (WIF) $ 0.890344
  • fartcoinFartcoin (FARTCOIN) $ 0.877804
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.52
  • clbtcclBTC (CLBTC) $ 112,432.00
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 4,277.83
  • saros-financeSaros (SAROS) $ 0.320097
  • theta-tokenTheta Network (THETA) $ 0.829351
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.28
  • pendlePendle (PENDLE) $ 4.82
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 4,367.09
  • galaGALA (GALA) $ 0.017199
  • iotaIOTA (IOTA) $ 0.194242
  • zcashZcash (ZEC) $ 47.93
  • tezosTezos (XTZ) $ 0.736533
  • ethereum-name-serviceEthereum Name Service (ENS) $ 23.45
  • vaultaVaulta (A) $ 0.467809
  • the-sandboxThe Sandbox (SAND) $ 0.299590
  • ripple-usdRipple USD (RLUSD) $ 1.00
  • ousgOUSG (OUSG) $ 112.50
  • jito-governance-tokenJito (JTO) $ 1.90
  • jasmycoinJasmyCoin (JASMY) $ 0.014358
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.10
  • morphoMorpho (MORPHO) $ 2.07
  • tbtctBTC (TBTC) $ 113,531.00
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.995549
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 4,363.36
  • flowFlow (FLOW) $ 0.415842
  • defactorDefactor (FACTR) $ 2.89
  • stader-ethxStader ETHx (ETHX) $ 4,661.96
  • newton-projectAB (AB) $ 0.008397
  • walrus-2Walrus (WAL) $ 0.440835
  • bittorrentBitTorrent (BTT) $ 0.00000064
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.245666
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 4,353.08
  • decentralandDecentraland (MANA) $ 0.321546
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 4,799.48
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 4,669.63
  • ether-fiEther.fi (ETHFI) $ 1.29
  • loaded-lionsLoaded Lions (LION) $ 0.019337
  • build-onBUILDon (B) $ 0.589821
  • swethSwell Ethereum (SWETH) $ 4,739.41
  • usual-usdUsual USD (USD0) $ 0.998328
  • global-dollarGlobal Dollar (USDG) $ 0.999890
  • beldexBeldex (BDX) $ 0.074894
  • starknetStarknet (STRK) $ 0.132955
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 113,715.00
  • bitcoin-svBitcoin SV (BSV) $ 26.06
  • vision-3Vision (VSN) $ 0.155555
  • syrupMaple Finance (SYRUP) $ 0.448910
  • benqi-liquid-staked-avaxBENQI Liquid Staked AVAX (SAVAX) $ 35.09
  • based-brettBrett (BRETT) $ 0.050358
  • aethirAethir (ATH) $ 0.044366
  • dydx-chaindYdX (DYDX) $ 0.634386
  • true-usdTrueUSD (TUSD) $ 0.996489
  • apecoinApeCoin (APE) $ 0.615395
  • usddUSDD (USDD) $ 0.999800
  • frax-etherFrax Ether (FRXETH) $ 4,337.18
  • telcoinTelcoin (TEL) $ 0.005223
  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 4,362.78
  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 112,456.00
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 1.00
  • bybit-staked-solBybit Staked SOL (BBSOL) $ 245.89
  • eigenlayerEigenCloud (prev. EigenLayer) (EIGEN) $ 1.44
  • neoNEO (NEO) $ 6.68
  • coredaoorgCore (CORE) $ 0.465178
  • arweaveArweave (AR) $ 7.13
  • instadappFluid (FLUID) $ 6.03
  • reserve-rights-tokenReserve Rights (RSR) $ 0.007718
  • thorchainTHORChain (RUNE) $ 1.26
  • wormholeWormhole (W) $ 0.093474

Bitcoin DeFi Project Elastos Debuts BTC-Backed Stablecoin BTCD

DeFi
By admin
0 22

Bitcoin DeFi Project Elastos Debuts BTC-Backed Stablecoin BTCD

A Bitcoin-blockchain based decentralized finance (DeFi) project debuted a stablecoin fully backed by bitcoin

BTC$104,748.51

tokens as part of its effort to build a financial system centered on the largest and oldest cryptocurrency.

Elastos, developer of the BeL2 protocol, unveiled its bitcoin dollar (BTCD) on Wednesday.

The project aims to create a digital version of the Bretton Woods system, the post-World War II agreement that pegged the U.S. dollar to gold, making the greenback the world’s reserve currency as a means of fostering monetary stability. Elastos said it is “reimagining [Bretton Woods] with Bitcoin at its core.”

Related Posts

Circle and Tether bug bounties aren’t enough says…

1

Perpetual futures markets heat up on Solana as…

2

Stablecoins are tokens pegged to the value of a traditional financial asset, such as a fiat currency, usually the dollar. They’re an important cog in the cryptocurrency machine because they counter the volatility of cryptocurrencies like bitcoin, allowing users to hold capital in digital assets without having to factor in wild price swings.

Dollar-pegged stablecoins are usually backed by short-term U.S. Treasuries that can easily be cashed in or purchased to meet fluctuating demand.

BTCD is backed by bitcoin, a counterintuitive choice for a token that’s mean to hold a stable value. Elastos deals with this through overcollateralization of 160%-200% of BTCD’s value in bitcoin, Ahmed IJ, the head of marketing, told CoinDesk on Telegram.

“Oracles feed the BTC-USD rate each block,” he said. “If cover falls to 110%, arbitrage may repay the debt, grab the BTC at a small discount, and erase the risk.

“When BTCD trades above a dollar, holders burn it to reclaim BTC, supply falls and the price slides. If it dips below a dollar, users mint it with fresh BTC and sell, supply rises, price lifts.”

The development of a BTC-backed stablecoin forms part of the broader development of bitcoin-powered DeFi, in which the security of the Bitcoin network and the vast reserves of BTC are used to secure and fund decentralized activity elsewhere in the blockchain world.



Source

admin 2965 posts 0 comments
You might also like More from author

Leave A Reply

Your email address will not be published.