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  • Welcome
  • 🪙DUCAT
    • The Ducat Protocol
  • 🔳Unit
    • Philosophy
  • 💠How DUCAT works
    • Overview
    • Architecture
    • Vaults
      • Open Vault
      • Deposit BTC
      • Borrow UNIT
      • Repaying UNIT
      • Withdraw BTC
    • Canonical Reference Satoshis
    • Multi-Party Computation (MPC) Network
    • Indexer
    • Oracles
      • How It works
      • Price Quotes
      • Generating Keys and Signatures
  • 📊Liquidations
    • Basic Mechanics
    • Profit settlement
      • Example
  • 🤝Trust Assumptions
    • Overview
    • Asset management
    • Liquidations
    • Supply Control
  • 📩Governance
    • Governance
    • Risk Management
  • ⚠️Disclaimer
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Welcome

DUCAT || UNIT is the first Bitcoin L1-native, decentralised stablecoin.

Last updated 8 hours ago

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Ducat Protocol and its stablecoin, UNIT, form an overcollateralised primitive for Bitcoin-native DeFi, managed directly on Bitcoin via the DUCAT token.

Recent innovations in Bitcoin programmability have enabled BTC-Fi to begin closing the gap with EVM-based competitors. For the first time, this makes it possible to launch a stablecoin backed by native BTC. UNIT is 160% overcollateralised with BTC and governed by the DUCAT token.

Bitcoin Runes will be used to tokenise DUCAT, and governance will be managed through distributed consensus based on Ducat Node statistics from votes. For more details, see the governance section.

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TRUST ASSUMPTIONS

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DUCAT

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UNIT

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HOW DUCAT WORKS

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LIQUIDATIONS

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GOVERNANCE